Innovation is central to growth dynamics of any nation. Startup ecosystem serves as the backbone for transforming India into a global hub of innovation and entrepreneurship. It caters to the need of g...
In a high-stake matter involving tax amount of approximately INR 19,000 crore, Cognizant India filed an appeal before the Madras High Court against the decision of the Chennai Tribunal. The matter involves determination of whether purchase of shares (prior to June 1, 2016) will constitute capital gains income in the hands of the shareholders or deemed dividend subject to levy of Dividend Distribution Tax. This article summarises the underlying issue and the decision of the Chennai Tribunal.
