NEWS & ADVICE : FIXED DEPOSITS
Indian Income tax offices coming up in 8 nations
By Neelima Shankar
Mar 17, 2011
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India is planning to set up Income Tax offices in countries like United States, Britain, Germany and the UAE. The major motive behind this idea is to keep track of people who evade tax and flee to foreign nations.

The government is planning to put up Income Tax Overseas Units in countries like France, Germany, the Netherlands, Cyprus, US, Britain, United Arab Emirates, and Japan in the upcoming fiscal.

Income tax offices are already operational in Singapore and Mauritius. These offices came into existence in this fiscal.

"The mandate of Income Tax Overseas Units is to assist Indian competent authorities, under the Double Taxation Avoidance Agreements and Tax Information Exchange Agreements, in its various works as well as to provide clarity on Indian taxation law in order to promote investment in India," the finance ministry said.


 


(Comments Posted : 1) Post Your Comments
1. No prudent decision. MoF needs to have a public debate on this aspect first and make analysis whether economically viable or not. Taxes of public should not go waste while the offices of respective counsilors can assist in this regard. First of all unit be opened in switzerland followed by others.

Regards
CA Ashok Aggarwal
Ashok Aggarwal (Posted: Mar 18, 2011)
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