Management of the income-tax function: Is India a tax haven?
Abstract
Many people believe that the corporate sector in India is probably the highest taxed in the world.
On the other haind, some people argue that the presen: system of income taxationt in India is such that it
enables a large nunmber of comtnpanies to manage their tax function such that they end up paying little or
no taxes on their inconmes.
The purpose of this paper is to take a close look at the way two large Indian companies have mana
caged their tax functions. This is done with a view to getting some idea of how high the incidence of cor
porate income taxation in India really is. The two companies are: Tata Engineering and Locomotive
Compainy and Reliance Textile Industries.
It is clear that the income-tax system, in India has many provisions that help growing companies to
reduce their tax liability to zero.
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