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At a time when the contours of business are undergoing major transformations on account of technological advancement across the world, issues such as those deliberated by the Kolkata Tax Tribunal in ITO v. Right Florists Limited1 were bound to arise.

Building a successful business involves more than a strong idea or initial funding. One of the most decisive yet often overlooked factors is early business structuring.

Under the Income Tax Act 1961, buy back of unlisted shares by a company attracts additional corporate tax in the hands of the company and the resulting capital gains, if any, in the hands of the shareholders are exempt from tax.

The much-anticipated Union Budget 2024, under the Modi 3.0 government, will be presented on 23 July 2024. Globally, various stakeholders are keenly awaiting what's in store in this year's budget.

Minimum Alternate Tax (MAT)1 has worked as a minimum tax protection in India's corporate tax system.

The Delhi High Court's recent ruling in the Ernst & Young U.S. LLP case has reignited the debate over cross-border employee secondments, determining that reimbursed salary costs constitute taxable technical services rather than mere fiscal pass-throughs. This decision, which closely mirrors the foundational Centrica India Offshore precedent, establishes that seconded employees who retain employment liens and social security benefits with their overseas entities remain employees of the foreign entity, thereb

Over the years, India has witnessed the rise of many prominent family empires. A family business generally starts with a small business being set up by a member, which is expanded...

Post the economic reforms of 1991, the Indian economy was opened up to integrate with the global market, which involved cross border movement of technology, personnel, capital, equipment etc.

Starting a business as a sole proprietor in India requires navigating various regulatory obligations and obtaining specific licenses based on your business type, location, and scale. While the structure itself is simple, understanding which registrations are mandatory—from GST and shop establishment licenses to sector-specific approvals—is crucial for legal operations and avoiding penalties.

Starting a sole proprietorship in India offers simplicity and flexibility, but business owners must navigate complex taxation frameworks and compliance obligations.

Such guarantees are commonly issued within corporate groups, typically by parent companies in favour of subsidiaries or related entities, to enable such entities to obtain financing from financial institutions.

Budget 2014-15 has introduced tax incentives for the real estate investment trusts regime, and also provided for relaxations in foreign direct investment regime.

In contracts involving supply, erection and installation of goods and materials, the contract has to be looked at as a whole...

India's economy grew at its slowest pace in the first quarter of the current fiscal year accompanied with a severe dip in consumer demand and investment

Alstom Transport SA – Authority for Advance Rulings (AAR).

It has been clarified that since EDI system of message exchange is still not in place, verification of genuineness of duty credit scrips shall continue to be carried out prior to registration of scrips despite deletion of such requirement vide Annual Supplement 2012-13 dated June 5, 2012 from Foreign Trade Policy.

The last week in India saw the new Union budget 2011-13 being presented in the parliament.