Thursday, November 1, 2018

United States ups the ante, warns of retaliatory action over UK Digital Tax

Senior leader of the Republican Party in the US and Chairman of the House Ways & Means Committee, Kevin Brady, issues strongly worded statement warning European nations and specifically the UK, over the Digital Services Tax (DST) proposal; Mr. Brady terms the 'unilateral' DST proposals as 'troubling' and that it seeks to pre-empt the ongoing global dialogue on the taxation of digital economy; Finally, he warns of "appropriate actions" by the USA through a review of America's tax & regulatory approach, to ensure a level playing field in global markets. 

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Kolkata ITAT holds Husband's HUF not falling in the definition of ‘Relative’ of a Wife for gift-tax purposes under Income-tax

  Kolkata Tribunal has recently ruled that HUFs cannot be treated as “relatives” under the gift-tax provisions of the Income-tax Act, thereb...