The plan to encourage overseas firms to raise capital in India through Indian Depository Receipts, or IDRs, as they are popularly known, appears to have hit a road block, with the revenue department not in favour of granting long-term capital gains t ..
GMR Hyderabad International Airport (GHIAL) has received from the Andhra Pradesh Government VAT (Value added tax) relief on two counts. While the first order helps the airport company, the other benefits passengers whose purchases from the duty-free ..
This will come as a relief to a large number of citizens who diligently pay their property tax. From the next financial year when the BMC introduces the capital value-based property tax system, every citizen owning property in the city will receive ..
Having achieved 100 per cent e-filing of returns, the State Government has taken the next logical step of introducing ‘e-payment’ to all its registered VAT dealers.e-payment has been made mandatory for all TIN dealers from September 1. It ..
The Delhi High Court dismissed the plea of Microsoft India seeking a duty relief to the tune of Rs 260 crore for alleged violation of service tax norms. A bench comprising Justices A K Sikri and Valmiki J Mehta dismissed the petition by Microsoft In ..
The Finance Ministry has extended service tax exemption to five more export promotion councils (EPCs). With this move, the total number of EPCs that could avail themselves of service tax exemption has gone up to 27 across the country. Budget 2009-10 ..
Companies deferring TDS transfers, trust incomes to be under lens The interest paid on delayed compensation to land owners by companies or entities engaged in the creation of Special Economic Zones, industrial parks and infrastructure developments,an ..
The government will arm its income tax officials with details on assets of those whose tax payments are pending, a move aimed at meeting the Rs 13,153-crore target for arrear collection this fiscal. With tax arrears of Rs 2,13,646 crore due as on Apr ..
The Finance Ministry has made it clear that interest liability will arise on companies in situations where Cenvat credit had been wrongly taken, but not utilised. A clarification circular to this effect was issued by the Central Board of Excise and C ..
The Finance Ministry has now given service tax exemption on transportation of certain specified goods by rail or through inland water and coastal shipping.The exemption has been given keeping in mind the common man, a Finance Ministry official said. ..
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