Suggestions on various matters - Transfer pricing, Issues in FBT, Remuneration u/s 142(2A) etc

Dear Members,

The Fiscal Laws Committee of the Institute invites your valuable suggestions on the following matters:

• Issues on Fringe Benefit tax
  Due to the complexity involved in the provisions of fringe benefit tax, the Fiscal Laws Committee has decided to come out with a publication “ Issues on FBT”. For this purpose a study group has been formed under the convernorship of CA. Jayant Gokhale, Central Council Member. You are requested to send your valuable suggestions including issues practically faced by you regarding FBT while doing tax audit under section 44AB of the Income-tax Act, 1961.
  
  
• Transfer pricing
  The Fiscal Laws Committee of the ICAI has recently decided to revise the “Guidance Note on Report under section 92E of the Income-tax Act, 1961 (Transfer Pricing)”. For this purpose, a study group has been constituted under the convernorship of CA. Padam Chand Kincha, Bangalore. We request you to send your valuable suggestions on the above-mentioned publication, which would greatly help the group to finalize the draft revised guidance note.
  
  
• Suggestions on fees to be determined under section 142(2A)
  The Finance Act,2007 has amended section 142(2A) whereby the fess payable to the accountant would be determined in accordance to the guidelines to be framed. The Fiscal Laws Committee has constituted a study group to give inputs to the government for framing the guidelines. We request you to send your valuable suggestions on the above-mentioned topic, which would greatly help the group to finalize the inputs.
  
  
• Issues on tax audit
  The Fiscal Laws Committee desires to revise its publication “Issues on tax audit”. For this purpose a study group has been formed under the convernorship of CA. Manoj Fadnis, Central Council Member, Indore. We request you to send your valuable suggestions on the above-mentioned publication, which would greatly help the Committee in revising the said publication.
  
  
• Section 195-Tax deduction at source in respect of Non-resident income
  We request you to send your valuable suggestions on tax deduction at source on non-resident income under section 195 with special reference to permanent establishments to enable us to evolve appropriate guidelines.
  
  

Your suggestions must reach flc@icai.org/graudit@gmail.com latest by 15th October 2007 to enable us to process them appropriately.

Your response is awaited.

Regards

CA. G. Ramaswamy
Chairman
Fiscal Laws Committee