India gives collection relief
November 01, 2007
The Income Tax department says Indian companies can enjoy same benefits as US companies
The Indian government has agreed to stop collecting taxes from Indian companies which are engaged in transfer pricing disputes. The decision follows representations from local companies which had seen the double tax treay conventions with the US benefit American companies.
The Income Tax Department has said that it will suspend collection of taxes if the mutual agreement procedure (MAP) is invoked by a US-based entity under article 27 of the India-US double taxation avoidance convention (DTAC).
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