RENTING OF IMMOVABLE PROPERTY IS SERVICESukumar MukhopadhyayMember, Central Board of Excise & Customs (rtd) A very recent judgement of the Delhi High Court[1][1] holding that renting of immovable property is not a service has created ..
Mr S.P. Swain has taken over as Director-General of Income Tax, Hyderabad. Mr Swain, who joined Indian Revenue Service in 1976, served as Director (international taxation), in Bangalore before the current assignment, according to a release. ..
The Central Government on Thursday decided to extend the full rate of duty refunds including excise to merchant exporters who purchased goods from the local markets for overseas shipments.The Central Board of Excise and Customs (CBEC) said in a circu ..
The newly formed Union cabinet is expected to decide shortly on the vexed issue of a tax holiday for natural gas production, which is key to attracting overseas bidders to India’s biggest auction ever of 70 oil and gas blocks. Lack of clarity o ..
SERVICE TAX ON RENT-UNCONSTITUTIONAL KIRIT S. SANGHVI, CA As per the news item the Honourable Delhi High Court has struck down the provisions of service tax in relation to renting of immovable property for use in the course of furtherance of business ..
FRINGE BENEFIT TAX MUST GO T.C.A.RAMANUJAM Fringe Benefit Tax was introduced in the Income tax Act, 1961 through the Finance Act, 2005 which incorporated Chapter XII-H in the Act w.e.f 1.4.2006. It contains provisions relating to definitions, charge ..
RECENT CHANGES IN THE PROVISIONS REGARDING TAX DEDUCTION AT SOURCE (TDS) AND TAX COLLECTION AT SOURCE (TCS)DR. VINOD K. SINGHANIA This article examines the impact of the amendments made by the Income-tax (Sixth Amendment) Rules, 2009, Income-tax (Sev ..
There is a difference of opinion in the Finance Ministry on the way the Cenvat rate (excise duty rate) should move in the coming days. Different groups are pulling in different directions. Some senior officials advocate that the median Cenvat rate sh ..
The income-tax department has the right to carry out a raid and attach property, if it has reason to suspect that income is likely to escape tax net in absence of prompt action, a division bench of the Bombay High Court has ruled. The division bench, ..
Some five months after the government issued a notice asking charitable trusts to pay tax on revenue they earn from commercial activities, it is framing guidelines to check tax evasion at such entities, including Indian cricket’s governing boar ..
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