Tax – Sudit K. Parekh & Co. LLP, Chartered Accountants, Mumbai, India

Budget 2026 – A Structural Reset of Safe Harbour Provisions and Fast Track APA for IT Services

admin — Mon, 09 Feb 2026 13:07:00 +0000

Union Budget 2026 marks a subtle yet decisive inflection point in India’s transfer pricing framework. Rather than introducing new compliance layers, the Budget focuses on simplifying existing mechanisms and embedding certainty into routine cross-border transactions.

MNEs Trumped by Tariffs: Rethinking Value Chains Through Transfer Pricing

admin — Thu, 17 Jul 2025 13:54:27 +0000

President Donald J. Trump Declares National Emergency to Increase our Competitive Edge,
Protect our Sovereignty, and Strengthen our National and Economic Security, the Fact Sheet1
published on 2 April 2025 read as POTUS announced sweeping tariffs on 85 countries, including EU,
China, India, Japan & South Korea to address national emergency arising out off America’s massive
trade deficit. On top of a baseline tariff of 10% throughout, USA announced country specific tariffs of
34% on China, 26% on India, 20% on EU, 24% on Japan & 25% on South Korea. Specifically, tariffs
on Chinese imports surged to 145%, while China retaliated with tariffs up to 125% on US goods. For
countries other than China, the reciprocal tariffs are under a 90 day pause period.

Key highlights of FTA’s guide on determining taxable income

admin — Fri, 09 Aug 2024 13:36:57 +0000

The Federal Tax Authority’s (FTA) recent guide on determining taxable income provides valuable insights for businesses operating in the UAE.

Will Union Budget bring more good news for NPS subscribers?

admin — Fri, 26 Jul 2024 07:22:08 +0000

The NPS is a government-backed retirement savings scheme. The scheme allows individuals to contribute towards their retirement throughout their working life. NPS was launched in 2004 by the Pension Fund Regulatory and Development Authority (PFRDA) and was originally intended for government officials but was made available to all individuals in 2009, The NPS offers a number of benefits which include safe returns, tax efficiency, low cost etc.

Income Tax Union Budget 2024-25 Expectations LIVE: Will Budget 2024 tweak capital gains tax to reduce burden from the taxpayers?

admin — Fri, 26 Jul 2024 07:16:57 +0000

Investors are expecting some good relief in the Budget 2024 as far as taxation of capital gains is concerned. They are of the view that rationalization is long awaited and is the need of the hour. There is an expectation of increase in the LTCG limits from the existing Rs 1 lakh. There are different rates of taxation for different types of stocks / assets. there is an expectation of rationalization in the rates. Further, investors have to bear multiple layers of tax such as STT, GST, income tax etc. It is expected that an all inclusive tax rate will make it easier for investors / tax payers. Also the time period for LTCG is different for different assets making it confusing and difficult. This should also be looked into.

Budget 2024: Key Expectations From Transfer Pricing (TP) Perspective Amidst The Economic Vision of Govt

admin — Fri, 26 Jul 2024 07:14:31 +0000

The Annual Budget 2024 will be presented in the Monsoon Session of Parliament. The Annual Budget 2024 is expected to build upon the principles of “Reform, Perform, and Transform.” It is most likely that the finance minister would declare India’s commitment to ‘Pillar 2’, aiming to implement a global minimum effective corporate tax rate of 15%. The initiative of the Organization for Economic Cooperation and Development (OECD), supported by the G201 targets multinational enterprise groups with annual consolidated revenues of at least 750 million euros.

Significant Changes in Capital Gains Tax and Buyback Rules

admin — Thu, 25 Jul 2024 11:46:32 +0000

Nishit Parikh highlights the crucial updates from revamping the capital gains tax regime as mentioned in the Union Budget 2024. He acknowledges the government’s sincere effort to simplify the tax compliances surrounding capital gains even though tax rates have been raised.

Budget 2024: Key Expectations From Transfer Pricing (TP) Perspective Amidst The Economic Vision of Govt

admin — Tue, 23 Jul 2024 06:25:50 +0000

Budget 2024: Higher standard deduction, tax bracket adjustment on cards for salaried class?

admin — Tue, 23 Jul 2024 06:20:09 +0000

Considering the fact that for the last many years, the cap on deductions has remained unchanged and are very meagre amounts, the amount of deductions need to be increased.