It's official: The goods and service tax (GST) regime, India's biggest-ever tax reforms attempt, scheduled to roll out on April 1, 2010, will miss the deadline by a wide margin. After a meeting in the capital on Wednesday, chairman of the empowered ..
The Delhi Bench of the Income – tax Appellate Tribunal (Delhi Tribunal), in the case of Vertex Customer Services (India) Pvt. Ltd. (the taxpayer) held that exclusion of provision of doubtful debts from the operating expenses being a debatable i ..
A person earning over Rs 30,000 per month may have to pay a ‘professional tax’ of Rs 100-200 under new tax proposals unveiled by the MCD in its 2010-11 budget, which also envisaged a hike of five per cent in property tax rates. The civic ..
The taxpayer was a wholly owned subsidiary of Denso Thermal Systems, Italy. The taxpayer was engaged in the business of manufacturing certain automobile products and selling the same in India and abroad. For the impugned assessment year, the taxpayer ..
google_protectAndRun("ads_core.google_render_ad", google_handleError, google_render_ad);Directions form part of revenue maximisation measures. The Central Board of Excise and Customs (CBEC) has directed its field formations across the country to op ..
Thursday, December 03, 2009 The Government has taken necessary steps to rationalize and simplify the tax structure for the food processing industry.100 percent tax exemption for first five assessment years beginning with the initial assessment year i ..
SUMMARY OF CASE LAWS. 43B (b) provides that any sum payable by way of contribution to a provident fund etc shall be allowed as a deduction only in the year of payment. The second proviso to s. 43B provided that the sums referred to in s. 43B (b) woul ..
CBDT issues clarification on procedure for remittances abroad by diplomatic missionsThe Government has clarified that while remitting consular receipts abroad, diplomatic missions in India will be required to submit only a self certified undertaking ..
Granting Income Tax relief to companies for deductions for contributions to provident fund (PF), the Supreme Court (SC) on Wednesday dismissed over 60 appeals by the commissioner of income tax. The Finance Act 2003, which operated from April 1, 2004, ..
Promotion on performance is a positive signal every organisation whether in private or public sectors intends to send to all stakeholders. This is what the Selection Panel headed by the Supreme Court Judge has also tried to do in the case of ITAT. It ..
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