If you thought life's getting easier with online filing of tax returns (e-filing), here's a counter-point. The taxman is working hard to deter you. Starting this year, individuals who file tax returns online will have to use a digital signature. If ..
The party could end soon for domestic and multinational companies that do tax planning only to avoid paying taxes in India. The government is set to usher in the next stage of reforms in taxation, framing anti-abuse rules that will ..
Exporters may be spared from having to pay taxes on any services availed during the course of their business, and could just file a return as a proof, if the finance ministry accepts a proposal being readied by the commerce department for inclusion i ..
The Centre is unlikely to bring down the ceiling rate on the central sales tax (CST) from the existing two per cent to one per cent, it is reliably learnt. The current thinking in the Finance Ministry is that the CST should be wholly phased out at th ..
The Madras High Court has set aside an order of Chief Commissioner of Income-Tax, Coimbatore, levying interest under Sections 234A, 234B and 234C of the Income-Tax Act for assessment years 1991-92 and 1992-93. Allowing writ petitions by the assessee, ..
INCOME TAXATION OF LIMITED LIABILITY PARTNERSHIPSBy T.N. PandeyThe legislation for Limited Liability Partnership (LLP for short) has already been passed by the Parliament and is now one of the enacted laws of the Republic of India. The statement of o ..
Biscuit manufacturers have sought abolition of excise duty and reduction in value added tax by as much as 4 per cent in the Budget, stating that the product is consumed by common man and also distributed as relief material.In a pre-budget memorandum ..
The Union finance ministry is considering an increase in the central excise duty for some of the products that had benefited from the two rounds of reductions announced by the government as part of its fiscal stimulus measures last year. In December ..
Gem and Jewellery Export Promotion Council (GJEPC), the all-India apex body of the industry representing 5,500 members, has proposed to replace all forms of direct taxes with a levy of one per cent turnover tax. In its pre-budget memorandum to the G ..
The Union budget is expected to provide clarity on taxation of limited liability partnerships (LLPs) by treating them like partnership firms for tax purposes. A corporate tax is likely to be levied on the income of an LLP, with the partners being exe ..
© 2024 LAWyersclubindia.com. Let us grow stronger by mutual exchange of knowledge.
