Patent Box Regime for Intellectual Property A Patent Box Regime is a special tax regime for Intellectual Property (IP) revenues. It is also known as IP-Box or Innovation-Box. The concept of Patent Box was first introduced by Irish and French Tax Authorities. In a Patent Box Tax Regime, a lower rate of tax is applicable […]
Tag Archives: Income Tax updates
Applicability of wealth tax from assessment year 2016-17 As per my understanding, wealth tax is not payable from assessment year 2016 in view of amendment brought vide THE FINANCE ACT, 2015 w.e.f. 1st day of April, 2016. After amendment, the applicable charging provision ( from AY 1993-94 to 2015-16), that is sub-section (2) of section […]
Income Declaration Scheme: Government assures complete confidentiality Income Declaration Scheme not be extended beyond September 30 ,2016 : Revenue Secretary The Government has assured complete confidentiality to those declaring their income under the Income Declaration Scheme 2016. Addressing a press conference in Mumbai today, the Revenue Secretary, Government of India Shri Hasmukh Adhia said “no […]
Pullovers for Start-ups With the unveiling of “Start-up India, Stand up India Scheme”, the Hon’ble Indian Prime Minister boosted the spirit of entrepreneurs and potential entrepreneurs & business managers to define their talents, skills and competence on a global scale. This is evident from Nasscom’s latest report published in 2015, where India stands third globally […]
IFRS Impact on Oil and Gas Sector Introduction International Financial Reporting standards (IFRS) are a set of accounting standards developed by the International Accounting Standard Board (IASB). IFRS is based more on principles when compared with US GAAP which is more rule based standard. One of the reasons for adapting to IFRS is the need […]