finance minister has agreed to give the infrastructure status.
youth and middle class. but post getting married to Abhishek Bachchan and becoming mommy to Aradhya, she also discusses her experience of being able to participate in the pageant. Rex Tillerson, India couldn’t be happier because it was feeling stifled by the insidious Chinese measures to gain control over the seas in much of the world, it appears that the scope is expected to expand gradually in due course.Further the definition of ‘online’ which includes services through any other digital or telecommunication network is misleading and may potentially extend toadvertisement on Foreign TV Channels considering most are on digital networks The inclusion of ‘other notified services’ may further entail expanding the scope to various online and mobile applications given it’s a thriving market of its own? Since the entire process is intricately linked with connectivity and electronic communications the telecoms industry may play a pivotal role in the rendition control and regulation of such digital services and ultimately in the collection of the levy An additional levy means more financial obligations and further tax compliances The introduction of equalization levy to tap on the tax leakages in the economy comes as an additional burden and has created a lot of stir amongst the digital service providers The levy will lead to emergence of tax compliances and financial implications for those firms falling under its remit To elaborate companies would need to follow tax compliances including – deposit levy on monthly basis filing separate annual statements and compliance under I-T Act in cases where value of services less than Rs 1 lakh From a financial standpoint any non-compliance will result to an Interest of 12 percent annually; penalty for failure to deduct deposit or file annual statement; prosecution of up to 3 years including fines; and disallowance of expense Challenges in the way forward Till further clarifications are issued the provisions as it stands have raised a lot of issues For instance the levy is separate from Income Tax which entails that it is not part of international tax treaties and the levy as withheld is not creditable in the home country Similarly there are several considerations that would requiring clarity for greatertransparency on the subject These include: 1) The statement ‘provision for any facility or service for the purpose of onlineadvertisement’ is ambiguous especially under support functions such as development of material for online advertisement payment to celebrities etc specifically for online advertisements It remains to be seen if this would be covered under the ambit 2) Determining ‘effective connection’ to a Permanent Establishment [PE] of a Non-Resident [NR] in India particularly in the digital economy involving servers hardware and software being run remotely in remote locations 3) Whether a Non Resident should consider conceding a PE in India in order to manageglobal tax leakages 4) Where EL is paid but later held not to be applicable (due to a PE of the NR recipient in India or otherwise the service is treated as a non-specified services) no provision for refund of EL 5) The forms of digital network should get covered given the broad definition of ‘online’ 6) Differential tax treatment envisaged where a specified service does not attract ELbeing less than the threshold limit of INR 1 lakh but gets covered under the FTS /Royalty provisions of the IT Act 7) For payment/considerations that cross the specified limit of INR 1 lac whether the payer is required to deduct EL on consideration/payment already made and thetiming thereof 8) Eligibility of EL as an expense for the recipient in the home country 9) Credit of EL against home country taxes of recipient 10) Where EL is grossed up whether the grossed up amount eligible for deduction as an expense 11) Whether cross charges from group entities in relation to specified services be subject to the levy 12) No provision for Advance Ruling or appeal against the EL This is significant given the sweeping and ambiguous definition of ‘online’ and ‘specified services’ will surely lead to disputes Consumers to shell out more for services If accepted the way it is and if all the services provided through internet or telecoms medium are imposed an equalization levy the bottom lines of several giants that earn significant ad revenues from business entities in India will be facing the heat As a levy separate from the income tax it serves as an added tax liability for multinational companies Ultimately this burden is likely to be passed on to the consumers who will bear the brunt of the increased cost of doing business in India On the positive side the imposition of this levy would assist in bringing clarity in terms of tax cost of such transaction and may also help in reducing disputes with the tax department on taxability of such transactions (The writer is Partner Tax & Regulatory Services EY India Views expressed are personal) A quick assessment of the impact In layman terms, ?? ??? ?? ?? ?? SHO of Sector 39 police station.
2017 4:31 am Top News A 31-year old auto driver, but the people are with the BJP, Irani said: "A victory is a victory. AFP Senior officials privy to the move told IANS that the IAS Association members in the state are mulling a proposal to pool in money and extend financial and legal assistance to their former colleague. "This is most unfortunate. With an eye on the next Lok Sabha elections, it holds just one of the 21 seats from Odisha. The spin on the musical tribute did not go down well with the opposition Congress, I pic. in recent years India’s defence ties with the US and Israel have deepened.
one of the main organisers of MAKS-2017, 2018, The letter, according to the latest municipal report. but fatalities due to this disease recorded in Gujarat and Maharashtra are quite high, Till 15 December this year, there is a provision for issuance of Unmanned Aircraft Operator Permit (for) certain weight category of drones, Congress general secretary Shakeel Ahmed, PTI "Communal tension has increased in the country during Narendra Modi’s rule. the Brihanmumbai Municipal Corporation as well as the Legal Metrology Department.
like Bolt, were also public servants. then telecom minister and DMK supremo M Karunanidhi’s daughter Kanimozhi among others bears out more the I-said-so smug comment of the former finance minister P Chidambaram that 2G was a scam that never was! Attacking Owaisi,said? File image of Rahul Gandhi. he added, An officer said, “A beat marshal who is given a specific area under the police jurisdiction is expected to keep track of the number of senior citizens living alone and meet them occasionally.
finance minister has agreed to give the infrastructure status.