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Relief from Double Taxation with India’s Direct Tax Code
2 pagine
Pubblicato da
Nandita Verma
Relief from Double Taxation with India’s Direct Tax Code
The proposed Direct Tax Code (DTC) eases fears of double taxation, aims replace India’s 50-year-old Income tax
law and create a system that simplifies the tax structure and...
[Di più]
Relief from Double Taxation with India’s Direct Tax Code
The proposed Direct Tax Code (DTC) eases fears of double taxation, aims replace India’s 50-year-old Income tax
law and create a system that simplifies the tax structure and updates the corporate tax rates for foreign
companies.
India Direct Tax Code: Relief from Double Taxation
The DTC reinstates the current well established principle – the provisions of domestic law or Double Taxation
Avoidance Agreement (DTAA), whichever is more beneficial to the tax payer should prevail, thereby bringing a
major relief to tax payers.
However this principle will not be applicable in certain conditions including:
When the General Anti Avoidance Rule is invoked.
When Controlled Foreign Corporation provisions are invoked.
When branch profits tax is levied.
Indian companies are increasingly setting up International Holding Companies (IHC) for overseas investments to
get commercial and fiscal benefits (e.
g.
tax exemption for dividend in
[Di meno]
Tag
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companies,
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direct,
double,
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foreign,
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india,
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international,
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provisions,
taxation
