In yet another move to provide clarity on taxation issues, Prime Minister Manmohan Singh set up a committee to look into such matters pertaining to IT sector and research and development related activities.
The panel, headed by former Central Board of Direct Taxes (CBDT) chairman N Rangachary, will be in addition to the one set up to review the General Anti-Avoidance Rules (GAAR) provisions to address the concerns of foreign investors.
The new four-member committee will hold consultations with stakeholders and related government departments to finalise the approach to taxation of Development Centres and suggest appropriate measures.
Earlier this month, the Prime Minister had set-up a panel headed by ICRIER chief and taxation expert Parthasarathi Shome to bring greater clarity and prepare a roadmap for GAAR by September 30 for its implementation.
|Get a chance to meet who's who of Transport ecosystem in India including key policymakers from Central and State Governments. Join us at National Summit on ‘Strategy for Ports, Highways Infrastructure and Logistics Efficiency , New Delhi on Aug 13, 2018 to explore business opportunities. Like and connect with us on Facebook, Linkedin and Twitter.|