Expenditure made of more than 20000 in cash allowed to transporterEnhancement of limit for disallowance of expenditure made in the case of transporters Under the existing provisions of the Income-tax Act, where an assessee incurs any expenditure, in ..
Rationalisation of provisions relating to tax deduction at source (TDS) Tax deduction at source is a method of collecting taxes on behalf of the Government at the time of payment or credit. The Income-tax Act casts a legal responsibility on the deduc ..
Budget 2009-10 did not announce any big bang change in the country’s indirect tax regime, but yet succeeded in making the Centre’s intent very clear.Finance minister Pranab Mukherjee on Monday continued with the existing rates for centra ..
Employees will have to pay tax on Esops, superannuation and ‘other amenities’. First, the good news. The finance minister has removed the fringe benefit tax (FBT) on the value of certain benefits like employee stock options (Esops), sweat ..
The government announced a slew of tax sops, including an additional Rs 10,000 personal income tax exemption and scrapping of 10 per cent surcharge, while announcing cheaper loans to farmers and incentives for export and infrastructure to attain nine ..
Though the Budget did not contain anything that directly pertains to mutual funds, the increase in disposable income in the hands of investors is likely to pave the way for increased investments in mutual funds in the long term, said fund managers. T ..
Fringe Benefit Tax and Commodity Transaction tax to be abolished NO CHANGE IN CORPORATE TAXES – MAT TO BE INCREASED TO 15% SUN-SET CLAUSES FOR DEDUCTION OF EXPORT PROFITS UNDER INCOME TAX TO BE EXTENDED BY ONE MORE YEAR DONATION TO ELECTORAL ..
EPCs and FIEo exempted from Service TaxThe Export Promotion Councils (EPCs) and the Federation of Indian Export Organisations (FIEO), will be exempted from service tax on the membership and other fees collected by them till 31st March, 2010. This was ..
Income Tax exemption limit increased by Rs.15,000 for senior citizens and by Rs. 10,000 for others 10% SURCHARGE ON PERSONAL INCOME TAX TO GOThe Finance Minister Shri Pranab Mukherjee in his Budget Speech today in the Lok Sabha proposed in increase t ..
India Inc welcomed the focus on reviving economic growth to 9 per cent as also the indications for bold tax reforms, but expressed regret that the Minimum Alternate Tax was raised and Security Transaction Tax was let to continue."Finance Ministe ..
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