Income-tax amendments expand exemptions, tighten cross-border transfer pricing, and institute rules for infrastructure debt fund withholding and compliance. Revisions establish income-tax and withholding rates for the 2011-2012 year, adjust surcharge and cess treatment, expand or create targeted exemptions and deductions (including for charitable receipts, specified non-commercial bodies, infrastructure debt funds and scientific research), broaden specified-business categories for investment-linked deductions, strengthen transfer pricing and cross-border compliance by empowering tax officers and treating transactions with persons in notified jurisdictions as international transactions with enhanced documentation and deduction restrictions, impose special withholding on interest from infrastructure debt funds to non-residents, and modify assessment, information-exchange and settlement procedures including time-limit and reporting adjustments.
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Provisions expressly mentioned in the judgment/order text.
Income-tax amendments expand exemptions, tighten cross-border transfer pricing, and institute rules for infrastructure debt fund withholding and compliance.
Revisions establish income-tax and withholding rates for the 2011-2012 year, adjust surcharge and cess treatment, expand or create targeted exemptions and deductions (including for charitable receipts, specified non-commercial bodies, infrastructure debt funds and scientific research), broaden specified-business categories for investment-linked deductions, strengthen transfer pricing and cross-border compliance by empowering tax officers and treating transactions with persons in notified jurisdictions as international transactions with enhanced documentation and deduction restrictions, impose special withholding on interest from infrastructure debt funds to non-residents, and modify assessment, information-exchange and settlement procedures including time-limit and reporting adjustments.
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