The Firm

Raising STT: To Do Or Not To Do!

Recently, the report submitted by the Parthsarathy Shome Committee has recommended that the short term capital gains tax on securities should be abolished and to make up the loss, the Securities Transaction Tax (STT) charged on sale and purchase of equities in the stock markets should be raised.

AAR: 'Cannot Shut Eyes To Illegality'!

This PwC news alert summarizes the recent ruling of the Authority for Advance Rulings in the case of Mahindra-BT Investment.

Answers To FAQs On APA

In this alert, PwC has addressed most common questions that the taxpayers may have related to the recently issued Indian Advance Pricing Agreement Scheme

VAT On Sale of Flats: Timeline Extended For Maharashtra

This EY Tax Alert analyses the applicability of VAT in the State of Maharashtra in connection with sale of flats following the decision of the Bombay High Court in the Maharashtra Chamber of Housing Society (MCHI) case.

SC's Boost To Commercial Arbitration

In this update, VERUS Advocates analyze the Supreme Court ruling of 6 September 2012 in Bharat Aluminium Co. v. Kaiser Aluminium which is expected to have far reaching implications on the development of international commercial arbitration.

SC Overrules Bhatia International

The Supreme Court has today laid down that the ratio in Bhatia International v Bulk Trading SA and Satyam v Venture Global does not flow from the provisions of the Arbitration and Conciliation Act, 1996 (Act) and accordingly, the same has been overruled.

APA: The Mystery Unravelled!

The SKP Tax Knowledge team has analysed the new APA scheme and their report is attached below...

Foreign investments & e-commerce activities

Recently pink papers covered a story stating Flipkart‘s ambitions to raise USD 100 million. (around Rs. 555 Crore.) However, there has been a great deal of debate surrounding online shopping sites in India who have become a medium for sourcing foreign investments in the country.

GAAR: Shome Committee Draft

EY's tax team has analysed the suggestions put forth in the GAAR 2nd Draft Report. Here is a short note on the EY report...

Advance Pricing Agreement Scheme

Earlier this week the CBDT notified the much awaited Advance Pricing Agreement Scheme. Here in the Revenue's words are some key features

Sahara: Emotionally Speaking

On Friday the Supreme Court ruled that SEBI has jurisdiction over the OFCDs issued by 2 unlisted Sahara Group companies, raising almost Rs. 26,000 cr.

SC ruling: Goodwill eligible for Depreciation

This EY Tax Alert summarizes a recent ruling of the Supreme Court in the case of SMIFS Securities Ltd on the issue of whether goodwill is an intangible asset eligible for depreciation.

Why CCI Held AB Nuvo's Notice As Invalid?

This VERUS update seeks to draw a comparison between the Indian law on merger control notification triggers and the corresponding provisions under EU, UK and US merger control laws.

Legal Ownership Prevails Over Beneficial Ownership

This alert by BMR Advisors summarizes the AAR ruling in the case Copal Research Limited.

AS 11: Additional Relief!

The attached KPMG Alert summarizes the Ministry of Corporate Affairs recently circular extending the scope of exchange differences.

Govt's 'Perform, Achieve and Trade' Scheme

The update by VERUS Advocates on the Government's 'Perform, Achieve & Trade' (PAT) Scheme notified under the Energy Conservation Act, 2001.