TDS at a higher rate on all transactions not having PAN PROVISION TO COME INTO EFFECT FROM 1ST APRIL 2010A new provision relating to tax deduction at source (TDS) under the Income Tax Act 1961 will become applicable with effect from 1st April 2010. T ..
Two days ahead of the usual date, the Union Budget for 2010-11 is to be presented on February 26, for reasons of a holiday and an Islamic religious event. This was indicated by Finance Minister Pranab Mukherjee at an informal meeting with journalists ..
The Finance Act, 2008 received the assent of the President of India on the 10th May, 2008 which contains provisions for direct and indirect taxes for fiscal year 2008-09. The Finance Bill was earlier approved by both the houses of Parliament. Consequ ..
New Delhi: The Union Budget is likely to be presented on February 26, according to top representatives in the finance ministry. The Cabinet will meet shortly to take a decision on the Budget date. The Budget is presented in Parliament on the last day ..
The failure of the persons to appear before the AO for examination in assessment proceedings or remand proceedings tilts the scales in favour of the revenue for giving a finding that the gifts were not genuine.CASE LAW DETAILSDecided by: ITAT, DELH B ..
In the words of our present Chief Justice of India,“….. the citizens’ faith in the judicial system will begin to wane because justice delayed is justice forgotten, excluded and finally discharged “ The quote certainly does no ..
The state of Punjab has challenged in the Supreme Court the validity of Union government notification giving concessions in taxes and also providing subsidy to the new as well as existing industries in the states of Jammu and Kashmir, Himachal Prades ..
Finance Minister Pranab Mukherjee Wednesday said the initiatives taken and proposed in the new direct tax code (DTC) will check avoidable litigations with resident as well as non-resident tax payers. Addressing the Parliamentary Consultative Committe ..
The much dreaded Delhi Value Added Tax (Amendment) Bill, 2009 raising the slab of 4 per cent to 5 per cent, was passed by voice vote in the Delhi Assembly today. The Bill was passed unopposed as the Opposition BJP had walked out during Chief Ministe ..
India Inc has informed the ministry of finance that the government can unlock a whopping Rs 50,000 crore in revenue if it fast- tracks cases related to direct and indirect taxes that are pending in various tribunals and courts. The Confederation of I ..
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