The income tax department’s scheme for assessing tax returns electronically without any personal contact between officials and tax payers has become effective, with the government notifying the e-assessment scheme, 2019, on Friday.
Rakesh Nangia, Managing Partner and Sandeep Jhunjhunwala, Director, Nangia Advisors(Andersen Global) share their views for following publications:
Times of India
A government panel tasked with overhauling the nearly six-decade-old Income-Tax Act on Monday recommended significant relief for taxpayers, including an across-the-board 25% tax rate for both local and foreign companies and changes in personal tax slabs to benefit middle and upper middle class Indians.
Rakesh Nangia, Managing Partner with inputs from Sandeep Jhunjhunwala, Director shares his views on aforementioned story for Livemint- Front page/ First story.
In what would bring clarity to the start-ups that have been served with notices by the income-tax department under the so-called angel tax provision, the Central Board of Direct Taxes on Thursday said the department would ‘summarily accept’ contention of start-ups recognised by the Department for Promotion of Industry and Internal Trade (DPIIT), if the notices pertained only to the angel tax section.
Rakesh Nangia, Managing Partner shares his views on aforementioned story for following publications:
Business Standard- Front page story
Hindu Business Line
The road to extend corporation tax rate reduction to 25 per cent for large firms may become challenging, with revenue foregone on account of tax incentives and exemptions growing at a rapid pace.
Rakesh Nangia, Managing Partner shares his views on Uphill climb for big firms wanting corporation tax reduced to 25% for Business Standard.