With a view to providing interim relief to small and marginal taxpayers and senior citizens, the budget 2009-10 has increased the personal income tax exemption limit by Rs 15,000 from Rs 2.25 lakh to Rs 2.40 lakh for senior citizens. Similarly it has ..
The New Pension System (NPS) has become operational since 1st January, 2004 and is mandatory for all new recruits to the Central Government service from 1st January, 2004. Since then it has been opened up for employees of State Government, private se ..
A new direct tax code will be introduced in 45 days and bring changes in the indirect tax structures, Finance Minister Pranab Mukherjee Monday said while presenting the union budget for 2009-10 in the Lok Sabha Monday.Reiterating his commitment to ex ..
The Government abolished the Commodity Transaction Tax (CTT) that was announced in the Budget last year, but was yet to be implemented and the commodity exchanges rejoiced the decision.Finance Minister Pranab Mukherjee announced the scrapping of the ..
General Budget 2009-10The Finance Minister, Shri Pranab Mukherjee has proposed to abolish Fringe Benefit Tax on the value of certain fringe benefits provided by employers to their employees. This was announced by Shri Mukherjee, while presenting the ..
To allow Cenvat credit for welding electrode The benefits of the highly liberal Cenvat Rules, 2004, has not percolated to manufacturers using welding electrode. This article analyses the eligibility of welding electrode to Cenvat credit and how the c ..
The Government may extend the tax holiday for software exporters beyond March 2010, in the Budget today. Analysts said extension of tax benefits will be a great relief to the IT sector, which is reeling under the impact of global financial crisis, wh ..
The Bombay High Court has, yet again, adjourned the tax liability dispute case between Jet Airways and Sahara India Commercial Corporation to July 15. The Court drove home the point that the parties should sit across the table and discuss the matter. ..
Procedure for furnishing information under sub-section (6) of section 195 of theIncome-tax Act, 1961 read with rule 37BB of the Income-tax Rules, 1962.General1. Form 15CA should be used for furnishing information of remittances in e-mode inaccordanc ..
The government is likely to extend the tax benefits on exports earnings of the information technology (IT) units, operating from the Software Technology Parks of India (STPI), to March 31, 2010 in Budget. The scheme was expired in March 2009. Under t ..
© 2024 LAWyersclubindia.com. Let us grow stronger by mutual exchange of knowledge.
