[aaykarbhavan] BUDGET 2014 - Analysis of the key Direct Tax Proposals [1 Attachment]

BUDGET 2014 - Analysis of the key Direct Tax Proposals

The Union Budget for the year 2014-15 was tabled by the Finance Minister Mr Arun Jaitley on 10 July 2014.  Certain significant tax proposals contained in the Finance (No.2) Bill, 2014 were made by the Finance Minister during the Budget 2014-15 speech.  In relation to the retrospective amendments made in earlier Budgets, the Finance Minister recognized the harsh implications in the international business community. The Finance Minister proposed that all fresh cases of indirect transfer taxation arising will be scrutinized by a high level committee. Unfortunately, contrary to expectations, the budget does not contain any proposal to provide relief to taxpayers who are already in litigation on this matter. Most of the direct tax proposals in the Finance Bill, 2014 are effective from the financial year commencing on 1 April 2014, unless otherwise specified. An analysis of the same is attached herewith.

DISCLAIMER: The information contained in this communication is intended solely for the use of the individual or entity to whom it is addressed and others authorized to receive it. These updates shall under no circumstance be construed as any kind of professional advice or opinion.

--
Regards
Paras Sheth & Associates
Chartered Accountants

__._,_.___

View attachments on the web

---

Posted by: Malav Sheth <shethmalav@gmail.com>

---

receive alert on mobile, subscribe to SMS Channel named "aaykarbhavan"
[COST FREE]
SEND "on aaykarbhavan" TO 9870807070 FROM YOUR MOBILE.

To receive the mails from this group send message to aaykarbhavan-subscribe@yahoogroups.com

Visit Your Group

• Privacy • Unsubscribe • Terms of Use