The Income Tax Department will now mail to individual assessees the details of the tax deducted at source (TDS) on their income from different sources like banks, employers or post offices. Officials said the move is aimed at preventing any discrepan ..
Merchant exporters have good news. They will be entitled to full rate of duty drawback (including the excise portion) against export of goods they purchase from the market. This is a complete reversal of the stand consistently taken by the Central Bo ..
With the communications and IT ministry working on framing the draft rules for certain provisions of the IT (Amendment) Act, 2008, industry bodies and the legal fraternity have queered the pitch for more progressive regulation. The ministry had sough ..
The Income Tax Department is probing tax evasion of Rs 800 crore by some stock brokers who are believed to be diverting profits, earned on trading in NSE, BSE and commodity markets, to “non-deserving” clients through manipulation of clien ..
UPA-II’s first Budget may bring some relief for individual taxpayers. The finance ministry is considering a proposal to hike the Rs 1-lakh limit for tax-deductible investments under Section 80C of the Income Tax Act, 1961 by another Rs 50,000. ..
In a verdict that will have a bearing on tax exemptions given to Indian trusts, especially educational trusts, the Authority for Advance Ruling has held that tax is to be paid in India on all cross-border transactions, even if the parties involved ar ..
Financial services players on Friday made a strong pitch for measures to promote investment in the forthcoming budget, central to which they said is the rationalisation of taxes by doing away with fringe benefit tax (FBT) and secur ..
Financial services players on Friday made a strong pitch for measures to promote investment in the forthcoming budget, central to which they said is the rationalisation of taxes by doing away with fringe benefit tax (FBT) and securities transaction t ..
Fiscal benefits such as tax holidays are on the menu for the food processing sector, said Mr Subodh Kant Sahay, Union Minister for Food Processing Industries, at a press conference here on Friday. This was after the Minister met industry leaders earl ..
The Karnataka Government, on Friday, extended tax concessions of up to Rs 80 crore for a three-year period to Toyota Kirloskar, which is expanding its manufacturing facility at Bidadi on the city’s outskirts. Toyota Kirloskar, as part of its ex ..
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