Tag Archives: Shailesh Kumar

Businesses Seek More Clarity on Royalty Payments in India – Shailesh Kumar

Digital companies want more certainty and guidance on tax and royalty charges for India-based operations as they become increasingly embroiled in court disputes with authorities. Recent rulings from the Indian courts and tax departments have sent contradictory messages to digital companies, creating uncertainty about what they consider to be royalty payments that are taxable.

 

  1. Shailesh Kumar, Director shares his views on aforementioned story for Bloomberg BNA .

businesses-seek-more-clarity-on-royalty-payments-in-india-shailesh-kumar

Five income tax notices you can get and what they mean – Shailesh Kumar

The last date for filing returns for AY17 and AY18 was 31 March 2018. According to the income tax department, there is substantial increase in the numbers of registered users on its e-filing portal, which has translated into more returns filed. As on 30 April 2018, there were about 73.9 million registered users on the e-filing portal and about 67.5 million people e-filed their returns during financial year (FY) 2017-18.

 

  1. Shailesh Kumar, Director shares his views on Five income tax notices you can get and what they mean for
Five income tax notices you can get and what they mean
Five income tax notices you can get and what they mean

Flipkart deal: Bumpy road ahead for Walmart on tax implications – Shailesh Kumar

As per public information, in proposed deal, shares of holding company Flipkart Singapore (i.e. a foreign company) would be transferred to Walmart. Generally, any gain arising from sale of shares of a foreign company is not liable to income tax in India. However, pursuant to Vodafone controversy, ‘indirect transfer’ provisions were introduced under domestic tax laws, providing that gains from transfer of shares of foreign company could be taxed in India, if such shares derive its value substantially from assets situated in India, which would be apparently satisfied in Flipkart’s case, since entire business of Flipkart is situated in India.
Flipkart deal: Bumpy road ahead for Walmart on tax implications