Income Tax Deptt. Wants Transparency In Financial Operation Of MNC’s

More Transparency for MNC in india
In India Multinational companies operating will soon have to disclose details of their operations at the country of residence and their revenue income to the Income Tax authorities.
According to sources some provisions related to BEPS are likely to be included in the Budget 2015-16. These may include the MNCs providing their details of operations at their headquarters or the country from where they are operating their business in India.
This step would help in assessment of future tax liability of subsidiaries of MNCs in India as the details would help bring in clarity in transfer pricing.