The Supreme Court has stated that when a tea company has composite income from agriculture and manufacture, both the Income Tax Act and the agricultural tax law of the state would apply. The court was dealing with the tax assessment of a public ltd t ..
[TO BE PUBLISHED IN THE GAZZETE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) New Delhi, the 26th June, 2008 Notification No. 29/2008 ..
New Delhi: About 92 per cent of the income-tax refund claims for fiscal 2007-08 will be settled without the taxpayers needing to produce TDS certificates, as the government has relaxed the criteria in this regard.According to the relaxed criteria on ..
A five-day hearing starts in the Mumbai High Court today to decide whether Vodafone could owe the Indian tax authorities some $2bn (£1bn) for its $11.2bn takeover of one of the subcontinent's major mobile phone networks.When Vodafone bought a control ..
India on Wednesday signed a revised double taxation avoidance agreement with Syria to ensure that the companies are taxed in countries where they have permanent establishments. The agreement, signed by External Affairs Minister Pranab Mukherjee and S ..
About 92 per cent of the income-tax refund claims for fiscal 2007-08 will be settled without the taxpayers needing to produce TDS certificates, as the Government has relaxed the criteria in this regard. According the relaxed criteria on settling the ..
The income-tax department has asked two leading film and entertainment companies to pay tax on the income generated from sale of distribution rights even though they are based in tax havens such as Cyprus and Mauritius. The department, in two separat ..
India's collected 71.3 percent more direct tax in the first two months of fiscal 2008/09 from a year ago, the government said on Wednesday, as receipts from individuals and companies grew strongly.The Central Board of Direct Taxes said in a statement ..
Aviation leader Jet Airways today said that authorities are investigating alleged service tax evasion by Sahara Airlines, which it had bought from Sahara Group, and asserted that any liability would be with previous owner. "As per the provisions of ..
The Appellate Commissioner of Income-Tax can no longer levy additional tax if it discovers a source of income that was not taken into account by the income-tax department at the time of assessment. A recent decision of the Mumbai bench of the Income- ..
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