The government is considering to re-introduce one-pager ‘‘Saral'' form for filing income tax return. The form was discontinued in 2007-08 and instead of that ITR-1, ITR-2, ITR-3 and ITR-4 were introduced for individual taxpayers. A senior ..
The Supreme Court has held that Pepsico India Holdings Private Limited is entitled to Sales tax exemptions in the state of Kerala as per the state government notification dated November 3, 1992, vide which the state government had invited investment ..
A recurring issue in service tax law is regarding the effective date of coming into force of various provisions, as contained in the Finance Act 1994. These provisions could pertain to introduction of new conditions and definitions as also changes in ..
In an order that could provide great relief to many tax payers, who missed the opportunity to make proper claim before the tax authorities and consequently ended up paying additional taxes, an Income-Tax Appellate Tribunal (ITAT) held that it has the ..
In an order that could provide great relief to many tax payers, who missed the opportunity to make proper claim before the tax authorities and consequently ended up paying additional taxes, an Income-Tax Appellate Tribunal (ITAT) held that it has the ..
The Central Board of Direct Taxes is likely to defer introduction of Unique Transaction Number (UTN) for filing Income-Tax returns. Last month CBDT had issued a circular stating that I-T assessees should furnish UTN when they file their returns from ..
Banks have sought tax relief on interest earned on infrastructure lending in the federal budget for FY10, to enable them to lend more to the sector. "We are in favour of exemption of interest income from lending to infrastructure sector, to hel ..
We are a firm of consultants advising numerous Indian and international companies on infrastructure projects. We are currently paying service tax under the taxable service category of ‘management or business consultant’s service’. R ..
All Central government employees who joined service after 2004 would stand to lose in terms of tax benefits under the new pension scheme. Contribution to the new pension scheme is tax deductible under Section 80CCD of the Income Tax Act wherein emplo ..
Income tax department pitches for three slabs.The government is considering a proposal to streamline rates applicable for tax deducted at source (TDS).This follows a recommendation from the income tax (I-T) department that TDS rates should be structu ..
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