A crucial shift from the use of the London Interbank Offered Rate (LIBOR) is gaining momentum, with news looking at the end of LIBOR by December 2021. This raises an alarm for a closer relook and maybe a tweak, on all transactions involving the use of this historically dependent base rate. Key tax/transfer pricing implications … Continue reading LIBOR Waning – The Countdown has begun – Is India geared up for the transition?
Access all the links in this article by signing up for free with Riverus Research Map for income tax here. There are some heads of income which are considered tax-free or exempt for the purposes of the Income Tax Act (“Act”). On the other hand, the Act allows certain expenses incurred exclusively for earning income … Continue reading Disallowance under Section 14A: an Analysis
The Bangalore ITAT recently delivered its judgment in Flipkart’s appeal against the move of the tax authorities to levy tax on the discounts given by the e-commerce giant to its customers as capital expenditure. Let's put the argument made by the tax department in graphic form. The argument as you know didn't hold. We thought … Continue reading Don’t Discount This