Giving relief to companies engaged in leasing and financing business, the Income Tax Appellate Tribunal has ruled that they are not required to pay interest tax, applicable to other credit institutions. "Since substantial earnings is made from such ( ..
The Central Board of Direct Taxes have vide notification S.O.No.752(E) dated 28.3.2008, notified the return forms for the assessment year 2008-09. With a view to enabling tax-payers to file returns in the electronic mode, these returns (except ITR-7) ..
Doctors, lawyers and other professionals, both salaried and self-employed, may now have to pay a higher professional tax. Acceding a long-pending demand of the state governments, the Centre has decided to raise the ceiling on professional tax from Rs ..
Imposing some checks on arbitrary actions of taxmen, the Income Tax Appellate Tribunal has made it tougher for the Assessing Officers (AO) to impose penalty on common taxpayers. Setting aside the orders of the AO and Commissioner of Income Tax (Appea ..
conditions for updation of informations in websiete under kvat act,[Notification No.KSA.CR.155/2007-08, Dated: 06.10.2008]I)Whose (only companies) output tax exceeds Rs.1,00,00,000/- for the financial year ending on 31.03.2007.[Notification No.KSA.CR ..
The Central Board of Direct Taxes has decided to relax norms on scrutiny of tax payers whose premises have been surveyed by the officials, a step aimed at encouraging evaders to pay up. "The decision is likely to provide relief to thousands of taxpay ..
Authority for Advance Rulings has ruled that the revenue earned by foreign firms by referring business clients to domestic companies is not taxable in India. The Indian companies paying referral fees will also "not be required to withhold any tax und ..
Concerned by rising tax evasion especially by exporters and certain big manufacturers, the government today announced that the tax man could provisionally attach the property of evaders to recover dues. The property of the manufacturers and service p ..
Belying fears of economic slowdown impacting government revenue, direct tax collections have gone up by 38.6 per cent in the first quarter this fiscal at Rs 57,373 crore compared to Rs 41,391 in the year-ago period."The growth in direct taxes has bee ..
The petroleum ministry has said that the income tax holiday of gas production would not be available to oil companies bidding for blocks under the seventh round of the New Exploration Licensing Policy (Nelp VII), which closes on Monday."It is clarifi ..
© 2024 LAWyersclubindia.com. Let us grow stronger by mutual exchange of knowledge.
