taxation

The government announced a slew of tax sops, including an additional Rs 10,000 personal income tax exemption and scrapping of 10 per cent surcharge, while announcing cheaper loans to farmers and incentives for export and infrastructure to attain nine per cent growth. In tune with the poll promises made by t..

Though the Budget did not contain anything that directly pertains to mutual funds, the increase in disposable income in the hands of investors is likely to pave the way for increased investments in mutual funds in the long term, said fund managers. The thrust towards infrastructure is also likely to benefit..

Fringe Benefit Tax and Commodity Transaction tax to be abolished span style="font-size: 10pt; color: black; line-height: 115%; font-family: "Arial"..

EPCs and FIEo exempted from Service Tax span style="font-size: 10pt; color: black; line-height: 115%; font-family:..

Income Tax exemption limit increased by Rs.15,000 for senior citizens and by Rs. 10,000 for others span style="font-size: 10pt; color: black; line-height: 11..

India Inc welcomed the focus on reviving economic growth to 9 per cent as also the indications for bold tax reforms, but expressed regret that the Minimum Alternate Tax was raised and Security Transaction Tax was let to continue. "Finance Minister P..

With a view to providing interim relief to small and marginal taxpayers and senior citizens, the budget 2009-10 has increased the personal income tax exemption limit by Rs 15,000 from Rs 2.25 lakh to Rs 2.40 lakh for senior citizens. Similarly it has aslo raised..

The New Pension System (NPS) has become operational since 1st January, 2004 and is mandatory for all new recruits to the Central Government service from 1st January, 2004. Since then it has been opened up for employees of State Government, private sector and sel..

A new direct tax code will be introduced in 45 days and bring changes in the indirect tax structures, Finance Minister Pranab Mukherjee Monday said while presenting the union budget for 2009-10 in the Lok Sabha Monday. span class="Apple-style-span" ..

The Government abolished the Commodity Transaction Tax (CTT) that was announced in the Budget last year, but was yet to be implemented and the commodity exchanges rejoiced the decision. Finance Minister Pranab Mukherjee announced the scrapping of the CTT..

General Budget 2009-10The Finance Minister, Shri Pranab Mukherjee has proposed to abolish Fringe Benefit Tax on the value of certain fringe benefits provided by employers to their employees. This was announced by Shri Mukherjee, ..

To allow Cenvat credit for welding electrode The benefits of the highly liberal Cenvat Rules, 2004, has not percolated to manufacturers using welding electrode. This article analyses the eligibility of welding electrode to Cenvat credit and how the change of rules during this Budget can solve the probl..

The Government may extend the tax holiday for software exporters beyond March 2010, in the Budget today. Analysts said extension of tax benefits will be a great relief to the IT sector, which is reeling under the impact of global financial crisis, which has resulted into fewer number of orders and sharp red..

The Bombay High Court has, yet again, adjourned the tax liability dispute case between Jet Airways and..

 Procedure for furnishing information under sub-section (6) of section 195 of the Income-tax Act, 1961 read with rule 37BB of the Income-tax Rules, 1962. General 1. Form 15CA should be used for furnishing information of remittances in e-mode in accordance with the provisions of section 195 (6) of the Income-tax Act, 1961. The inform..