Articles and Updates

• -

In an interview with NDTV, tax expert Aseem Chawla of Phoenix Legal explained the queries related to GST. From July 1, the country will move to a new indirect tax regime as GST or goods and services tax will subsume nearly a dozen of central and state taxes. From the consumer's point of view, the biggest advantage would be in terms of reduction in overall tax burden on goods. For businesses, it means reduction in a multiplicity of taxes and a much simpler tax regime with fewer rates and exempt

• -

Stepping up its fight against tax evasion, the Centre has made it mandatory to quote the Aadhaar number for opening bank accounts and for transactions exceeding ?50,000. With the amendments to the Prevention of Money Laundering (Maintenance of Records) Rules, 2005 notified earlier this month, banks will have to demand both Aadhaar and the Permanent Account Number (PAN) for verification of identity, starting June 1.

• -

New Delhi, May 30: India’s decision to sign the multilateral convention on tax treaty related measures under the OECD-G20 BEPS project should spell music for several taxpayers faced with economic double taxation or transfer pricing issues. This is because the signing of the multilateral instrument (MLI) at Paris on June 7 could open the doors for India to entertain bilateral advance pricing agreements (APAs) or mutual agreement procedures (MAP) with several countries for resolving transfer pricing issues, say ta

• -

We understand that law firm Phoenix Legal is defending journalist Arnab Goswami’s freshly launched news channel Republic TV in the Delhi high court, against news channel TV Today’s writ that alleges that Republic is violating telecom law to gain unprecedented television ratings (TRP). LPJ & Partners is acting for TV Today, which is the India Today Group’s English and Hindi television news channel. TV Today has alleged that Republic violates the Telecom Regulatory Authori

• -

Phoenix Legal and senior counsel Ramji Srinivasan won for Arnab Goswami’s new TV news venture Republic in the Delhi high court, after the India Today Group withdrew its writ that we had first reported yesterday, which challenged Republic for allegedly violating the telecom law to gain unprecedented TV ratings (TRP).