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Finally, some clarity on taxation of consortiums; infra developers to benefit

DNMUM359530 | 3/16/2016 | Author : Rahul Jain | WC :561



Consortium structures, wherein multiple companies come together to execute large scale infrastructure contracts are becoming increasingly common because such contracts are too large and complex for a single party to undertake alone. The consortium members usually have very clearly defined independent work scopes and are responsible for their own profits, losses and taxes thereon.
Getting these structures accepted for the purpose of taxation, however, has remained a challenge. The taxman contends that (i) such structures constitute a single independent taxable entity known as an Association of Persons (AOP); and (ii) that the profits cannot be assessed in the hands of each consortium members individually. This results in a proverbia
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