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We are dependable and trustworthy knowledge processing partner. Although we are a separate entity, we are an integrated part of your organization, like.

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Presentation on theme: "We are dependable and trustworthy knowledge processing partner. Although we are a separate entity, we are an integrated part of your organization, like."— Presentation transcript:

1 We are dependable and trustworthy knowledge processing partner. Although we are a separate entity, we are an integrated part of your organization, like a slice of a wholesome pie. NEWSLETTER – JANUARY 2015

2 INDEX Direct Taxation Indirect Taxation Corporate & Other Laws International Taxation Statutory Due Dates January 2015 Statutory Due Dates Newsletter – January 2015

3 DIRECT TAXATION IndexIndex CBDT Signed first bilateral advance pricing agreement The Central Board of Direct Taxes (CBDT) on Friday,19th December 2014 signed a bilateral Advance Pricing Agreement (APA) with a Japanese company. This is India’s first bilateral APA. The APA is for five years. APAs will improve the investment climate in the country. This APA has been finalized in a period of about one-and-a-half years, which is shorter than time normally taken in finalising APAs internationally.The scheme has been introduced to bring about certainty and uniformity in transfer pricing matters of multinational companies and reducing litigation. Tax payers can approach AAR for tax liabilities on deals above 100 Cr In a positive move to cut tax litigation, the Central Board of Direct Taxes (CBDT) has notified that resident taxpayers who plan transactions valuing Rs 100 crore or above can approach the Authority for Advance Rulings (AAR) for determination of their tax liabilities under such transaction. This step will help reduce litigation on mergers and acquisitions (M&As) and transfer-pricing orders issued by the tax department after a transaction is announced. Earlier, this facility was available only for multinational companies (MNCs) and their overseas arms. However, with this change, the local subsidiary of an MNC can approach the AAR for advance tax rulings. Newsletter – January 2015

4 INDIRECT TAXATION IndexIndex Major relief for Indian steel exporters Indian steel exporters received a major relief with the World Trade Organization (WTO) ruling against the US for imposing heavy countervailing duty (CVD) on steel imports from this country. The government will now demand withdrawal of CVDs on at least seven other items by the US, imposed using the same formula in the steel case that was found to be “inconsistent” with various provisions of WTO’s Agreement on Subsidies and Countervailing Measures. Newsletter – January 2015

5 CORPORATE AND OTHER LAWSIndexIndex RBI extends deadline to exchange pre-2005 currency notes to 30 th June 2015 The Reserve Bank of India (RBI) has extended the deadline to exchange pre-2005 currency notes to June 30, 2015 from the earlier deadline of January 1, 2015.The central bank in a notification said that the notes could be exchanged for their full value till June 30. It has also clarified that all such notes continue to remain legal tender. Newsletter – January 2015

6 INTERNATONAL TAXATIONIndexIndex Nations may come together to stop abuse of Tax pacts India's attempts to amend tax treaties with countries such as Mauritius may have drawn a blank so far, but its efforts are about to get a huge boost with several nations getting together to ramp up work on a global convention to plug treaty abuse. Multilateral convention will supplement tax treaties. World is moving towards multilateralism. There would be communiqués that would be binding on all. Newsletter – January 2015

7 STATUTORY DUE DATES FOR JANUARY 2015 Index Index Statutory Due Dates Calendar for January 2015 Newsletter – January 2015 Due DateStatutory Compliance 5 th January 2015Payment of Service Tax/ Excise duty 7 th January 2015Payment of TDS 10 th January 2015Excise Return (if monthly) 15 th January 2015Payment of Provident Fund contribution/ Profession Tax 15 th January 2015Quarterly Filing of TDS Return 21st January 2015Payment of VAT

8 Get in Touch www.nyaasa.com +91.20.6500 1753 +91.20.6500 8738 contact@nyaasa.com

9 Newsletter – January 2015 THANK YOU !

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We are dependable and trustworthy knowledge processing partner. Although we are a separate entity, we are an integrated part of your organization, like.

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We are dependable and trustworthy knowledge processing partner. Although we are a separate entity, we are an integrated part of your organization, like.

We are dependable and trustworthy knowledge processing partner. Although we are a separate entity, we are an integrated part of your organization, like.
We are dependable and trustworthy knowledge processing partner. Although we are a separate entity, we are an integrated part of your organization, like.

We are dependable and trustworthy knowledge processing partner. Although we are a separate entity, we are an integrated part of your organization, like.
We are dependable and trustworthy knowledge processing partner. Although we are a separate entity, we are an integrated part of your organization, like.

We are dependable and trustworthy knowledge processing partner. Although we are a separate entity, we are an integrated part of your organization, like.
We are dependable and trustworthy knowledge processing partner. Although we are a separate entity, we are an integrated part of your organization, like.

We are dependable and trustworthy knowledge processing partner. Although we are a separate entity, we are an integrated part of your organization, like.
We are dependable and trustworthy knowledge processing partner. Although we are a separate entity, we are an integrated part of your organization, like.

We are dependable and trustworthy knowledge processing partner. Although we are a separate entity, we are an integrated part of your organization, like.
We are dependable and trustworthy knowledge processing partner. Although we are a separate entity, we are an integrated part of your organization, like.

We are dependable and trustworthy knowledge processing partner. Although we are a separate entity, we are an integrated part of your organization, like.
We are dependable and trustworthy knowledge processing partner. Although we are a separate entity, we are an integrated part of your organization, like.

We are dependable and trustworthy knowledge processing partner. Although we are a separate entity, we are an integrated part of your organization, like.
We are dependable and trustworthy knowledge processing partner. Although we are a separate entity, we are an integrated part of your organization, like.

We are dependable and trustworthy knowledge processing partner. Although we are a separate entity, we are an integrated part of your organization, like.
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