1. Background of the dispute Tiger Global, a major US-based investment firm, invested in Flipkart (an Indian e-commerce company) through Mauritius-based entities and made a substantial capital gain (about US $1.6 billion) when it partially sold its stake to Walmart in 2018. 2. Treaty and tax claim Tiger Global claimed exemption from Indian capital gains… Continue reading Tiger Global Tax Case – Key Points
Income tax is a crucial part of a nation’s revenue system, and the Income Tax Department monitors tax compliance diligently. A taxpayers may receive an Income Tax Notice due to discrepancies or issues found in their returns or financial transactions. Receiving a notice doesn’t always mean trouble, it may simply be a routine verification. However,… Continue reading Why Did You Get an Income Tax Notice? Causes & Expert Solutions
The applicability of Tax Audit in India is governed by Section 44AB of the Income Tax Act, 1961. It lays down the threshold limits and conditions under which an audit of accounts is mandatory for businesses and professionals. Applicability of Tax Audit What is Tax Audit? A tax audit is an examination and review of… Continue reading Applicability of Tax Audit in India: Complete Guide for Businesses & Professionals
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