taxation

The finance ministry will soon unveil a new format for income-tax returns that will hopefully make tax filing easier for the salaried and pensioners. Theoretically, redesigning a returns form should not be as complex as, say, rewriting archaic income-tax laws. Taxmen have, however, b..

The Central Board of Excise and Customs (CBEC) has made it mandatory for assessees who have paid Rs 10 lakh or more as service tax for 2008-09 to file returns electronically through internet banking from this year. Notifications issued by the government also specify the same for cent..

Tax evasion could land you behind bars if the country’s direct taxes authority has its way. The central board of direct taxes wants to prosecute tax evaders under the tough anti-terror financing law, even as it looks to adopt a more friendly approach towards honest tax payers. ..

Following criticism and pressure from the Opposition, Sheila Dikshit-led Delhi government today withdrew a four-per-cent value-added tax (VAT) on cooking gas, resulting in a Rs 12-13 relief to consumers. The Delhi government, however, did not roll back the withdrawal of the Rs-40 sub..

The Confederation of Real Estate Developers’ Associations of India (Credai) today said it would consider taking the government to court if its demand for excluding land cost from the proposed service tax on housing complexes under construction was not met. “There is an op..

The Indian Cellular Association (ICA) has made a representation to the West Bengal Government for bringing down the value added tax (VAT) across all types of mobile handsets to five per cent, according to ICA's National President, Mr Pankaj Mohindroo. The State Budget had propose..

The Maharashtra Government has decided to levy one per cent Value-Added Tax on property sale from April 1, 2010 in its Budget for 2010-11. All sale agreements registered on or after April 1 will attract one per cent on the contract price of flats mentioned in the agreement of sale. F..

In a judgement that will clear the air on the tricky issue of the income-tax department’s power to levy penalties on assessees, the Supreme Court has held that a penalty cannot be levied merely because the I-T authorities and taxpayers hold divergent views on calculation of inc..

After introducing unique account numbers for taxpayers (PAN) and those for tax deductors (TAN), the government will this fiscal introduce a unique document identification number (DIN) to be quoted on "every" income tax related communication. The department will soon put in ..

Delhiites will have to shell out more from their pockets for virtually everything from cooking gas to diesel with Delhi government withdrawing subsidy on LPG and increasing VAT on many items to "generate" additional revenue. Presenting the budget amid vociferous protests by..

The validity of reopening an income tax (I-T) assessment has to be determined on the basis of the law as it stands on the date of reopening and not on the basis of a retrospective amendment in the law, the Bombay High Court has said. The recent court order came in a case involving Ra..

Payments made by an Indian arm of a multinational to its US or UK-based affiliate for professional support service will not be taxed here in India, the Authority for Advance ruling has said in a recent ruling. The decision brings more clarity on taxation of fee for technical services..

Hello learned friends, I am the legal manager of a software firm. As part of our IT solutions, , we buy/obtain license/sub license soft ware and customise/implement the same to our clients. In a recent instance, the entity from whom we buy the software has charged Service Tax over and above the applicable CST. They might give online support in future if the need arises...

All the manufacturers, dealers and service providers who have to pay Central Excise duty and service tax of Rs 10 lakh or more should file their returns electronically from April 1. The e-payment could be made through 23 designated banks the list of which is available on the portal o..

The Maharashtra Government has not taken a final decision on levying entertainment tax on the IPL, said the Chief Minister, Mr Ashok Chavan, on Wednesday while addressing the media on the eve of budget session. When it was pointed out that the State Cabinet said on January 20 that en..