The draft Direct Taxes Code that proposes to reduce the rate of corporate tax to 25 per cent from about 30 per cent may have overhauled the taxation structure and rates for companies, but experts see that in real terms companies may end up paying mo ..
Extension of time limit for filing ITR-V formThe Central Board of Direct Taxes had, vide circular No.3/2009 dated 21.05.2009, allowed assessees who file their income tax returns in electronic form without digital signature to submit their verified IT ..
Finance minister Pranab Mukherjee stuck to his Budget promise on Wednesday, releasing the draft Direct Taxes Code aimed at rationalising and simplifying India’s obtuse tax regime, while expanding the base and moderating rates. The exercise has ..
The Finance Minister today revised the direct tax collection target for the current fiscal to Rs 4 lakh crore, sources said. Commenting on the revised target, Central Board of Direct Taxes Chairman SS N Murthy said, "This is an aspiration we wil ..
FM to release ‘Direct Taxes Code’ tomorrowFinance Minister, Shri Pranab Mukherjee will release the draft of the Direct Taxes Code and a Discussion Paper tomorrow in the presence of Union Home Minister, Shri P. Chidambaram and Ministers of ..
Net direct tax collections during first four months of the present fiscal (up to July 2009) stood at Rs.73,990 crore, up from Rs.71,648 crore in the same period last fiscal, registering a growth of 3.27 percent. Growth in Corporate Taxes was 2.61 per ..
The Centre’s net direct tax collections in July 2009 stood at Rs 14,525 crore, marginally higher than the Rs 14,275 crore collected during the same month last year. For the first four months of the current fiscal, the collections stood at Rs 73 ..
A petition alleging high level corruption to evade income tax by Uttar Pradesh Chief Minister Mayawati has been filed in the Delhi High Court today.Justice Rajiv Shakdher transferred the petition to the bench of Chief Justice who hears the regular PI ..
The Supreme Court has issued a notice to Moser Baer India Ltd why it should not be asked to pay income tax to the tune of Rs 2,978 crore. A bench headed by Justice S H Kapadia sought the reply from the manufacturer of computer-related products, inclu ..
Indian Railways may have to pay service tax on revenues from advertising services that it provides to companies. The Central Board of Excise and Customs (CBEC) has directed its field officers to collect data on advertising services offered by Railwa ..
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