Money received by an employee of a foreign company while leaving the firm, even if it is paid as non-compete fee, will be taxable in India, going by a t ..
Requirement of PAN for Insurance ProductsCircular No: 021/IRDA/LIFE/PAN/Jul-2009Dated 23-7-2009It has been decided to mandate the requirement of PAN on all high value insurance products. All Insurers are therefore advised to collect PAN from all pers ..
Considering the complexity of issues that need to be addressed, introduction of the goods and services tax from next year appears to be difficult said the President of the Bangalore Chamber of Industry and Commerce(BCIC), Mr K.R. Girish, President, a ..
The Government proposes to set up a Centralised Processing Centre (CPC) during 2009-10 only at Bengaluru, for processing of all Income-tax returns received in the State of Karnataka and for processing of all e-returns received in the country.It will ..
The Lok Sabha was informed, on Friday that the new direct tax code will be released for public discussion by August 20. The new code will be released along with a discussion paper, the Minister of State for Finance, Mr S. S. Palanimanickam, said in a ..
With the due date of July 31 fast approaching, it is that time of the year again when the nation’s tax payers scramble to file I-T returns. After all, filing of tax return is compulsory for everyone whose gross total income exceeds ..
IT firms such as TCS, Infosys and Wipro expect their effective tax rates to go up in the coming years as more of their delivery units come out of Software Technology Parks of India. This would further impact the net profit of these companies, already ..
The Centre's net direct tax collection grew by just 3.65 per cent to Rs 59,465 crore during the first quarter of the current fiscal year-on-year, as tax authorities gave much higher refund. "Lower growth in net tax collection was mainly on accou ..
The first ever “Customs Tariff Database Online” for India was released by the Chief Economic Adviser (CEA) Dr. Arvind Virmani. This endeavour is a result of the research programme initiated by the Economic Division, Department of Economic ..
The Department of Economic Affairs (DEA) in the Finance Ministry is getting tech-savvy by the day. It has gone in for an electronic database of Customs tariffs to equip itself for better policy making on the import tariff front. The electronic databa ..
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