The government has allowed multinationals flexibility in valuing their transfer of intangibles such as brand to their Indian subsidiaries without any fear of the tax department. The new rule will allow multinationals to use any arms-length methodology to value intangibles such as brand name, goodwill and dealer network that are transferred to their Indian subsidiary, withdrawing any discretion to the tax officer to question the value so determined. Transfer pricing is a key focus area for the income tax authorities to check trade mispricing, one of the most widely used ways to evade taxes.
The Public Gambling Act, 1867 also known as the "Gambling Act" is the primary law which governs gambling in India. However, the state legislatures, under the Constitution of India, are currentl More
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