https://www.taxtmi.com/circulars?id=55667 The Finance Act, 2016 revises direct tax rates and withholding rules; phases in POEM residence with a transition chapter for first time resident foreign companies; implements BEPS style master file and Country by Country reporting with penalties; introduces sectoral tax measures including exemptions for strategic oil storage, DDT exemption for SPV distributions to business trusts, a new securitisation trust regime, start up and patent incentives, and phased out investment deductions; creates an exit tax for charities converting to non charitable entities; tightens penalty and compliance frameworks including electronic data processing; and establishes the Direct Tax Dispute Resolution Scheme and an Equalisation Levy on specified digital services. en-us Fri, 20 Jan 2017 00:00:00 +0530 Tue, 07 Feb 2017 12:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=55667 The Finance Act, 2016 revises direct tax rates and withholding rules; phases in POEM residence with a transition chapter for first time resident foreign companies; implements BEPS style master file and Country by Country reporting with penalties; introduces sectoral tax measures including exemptions for strategic oil storage, DDT exemption for SPV distributions to business trusts, a new securitisation trust regime, start up and patent incentives, and phased out investment deductions; creates an exit tax for charities converting to non charitable entities; tightens penalty and compliance frameworks including electronic data processing; and establishes the Direct Tax Dispute Resolution Scheme and an Equalisation Levy on specified digital services. Circulars Income Tax Fri, 20 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/circulars?id=55667