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Articles by Ankit Dangayach

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A short course on short sales

  Ankit Dangayach    24 December 2007 at 22:41

Securities and Exchange Board of India (Sebi) on Thursday allowed short-selling by all classes of investors in the Indian stock market. The date of implementation will be announced after the stock exchanges and depositories put the required systems i



FBT formula may stay same on all streets

  Ankit Dangayach    05 November 2007 at 22:27

NEW DELHI: Valuation guidelines for fringe benefit tax (FBT) on employee stock options (Esops) may be tweaked slightly. Companies listed on select international stock exchanges may get to follow the norm meant for listed companies in India as the go



Recent Amendments In Clause 49

  Ankit Dangayach    13 October 2007 at 02:44

Sebi has recently revised Clause 41 of the Equity Listing Agreement, which governs the submission of quarterly results to stock exchanges. The revision aims to rationalise formats and the submission process. The revised Clause 41 is applicable in res



No consistency in PE income attribution

  Ankit Dangayach    10 October 2007 at 01:51

No consistency in PE income attribution There has been a debate on the taxability of turnkey contracts where portion of a contract is executed outside India. In Ishikawajma-Harima Heavy Industries Ltd case, the Supreme Court, in 2006, ruled that mere



SOX Act of 2002: Overview

  Ankit Dangayach    05 October 2007 at 23:55

The Sarbanes-Oxley Act of 2002 (SOA or SOX) "The Act does not differentiate between U.S. and Non U.S. companies in its application."What is Sarbanes Oxley Act of 2002?Legislation passed by the US Congress providing new corporate governance rules, re



Depreciation on leasing

  Ankit Dangayach    01 October 2007 at 23:35

Depreciation on leasing? An ageing puzzleUnder the Income Tax law, two most important conditions for tax depreciation claim pertain to ownership and usage of the asset. As is the case on any other contentious matter, history is replete with judicial



Revenue tries to pierce the corporate veil

  Ankit Dangayach    01 October 2007 at 22:56

Revenue tries to pierce the corporate veil In the recent past, controversy in relation to taxability of offshore sale or transfer of security in a foreigncompany (offshore special purpose vehicle (SPV)) has been consuming the energy of taxpayers and