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Oct 29, 2014
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Indian businesses in US risk higher penal taxes on fund transfer
Indian entities having businesses in the US risk higher penal taxes in the US on any fund transfer to the country if New Delhi fails to endorse a pact for information exchange by December 31 on grounds of confidentiality.New Delhi will find it difficult to sign the US proposed Foreign Account Tax Compliance Act, or FATCA, in the wake of Supreme Court's insistence for disclosure of information on foreign accounts even as government pleaded doing so would violate bilateral tax treaties.
Source -
http://economictimes.indiatimes.com
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