taxation

 The finance ministry is likely to withdraw the Commodity Transaction Tax (CTT), which was introduced more than year ago but was not imposed. The CTT, which was introduced by the then Finance Minister P Chidambaram in his Budget for 2008-09, was not levied due to stiff resistance from commodity exchang..

The Tirunelveli District Chamber of Commerce and Industry has made a plea for waiving service tax on telephones. In a letter to Mr Pranab Mukerjee, Union Finance Minister, the Chamber Secretary, Mr S. Chandramouli, said that telephone calls facilitate only conveying of information and need not be classified..

 The industry has demanded abolition of the commodity transaction tax (CTT) even before it is implemented. Industry bodies CII, Ficci and Assocham in their pre-budget recommendations have asked the finance ministry to withdraw the..

Reliance Industries, paid less tax than a year ago, while tax payments by State Bank of India, the country's largest lender, rose, according an income tax official who declined to be named. Reliance Industries, the biggest private..

The finance ministry is contemplating diluting provisions of Fringe Benefit Tax (FBT), by which companies may not have to pay taxes on certain perks and allowances availed of by employees. Although industry has been pleading for a complete abolition of F..

The consensus on tax rates developing around the goods & services tax (GST) means finance minister Pranab Mukherjee is unlikely to tinker with the service tax rate in the forthcoming Budget. While discussions are still on between the Centre and the s..

 If you thought life's getting easier with online filing of tax returns (e-filing), here's a counter-point. The taxman is working hard to deter you. Starting this year, individuals who file tax returns online will have to use a digital signature. If they don't, ..

The party could end soon for domestic and multinational companies that do tax planning only to avoid paying taxes in India. The    governme..

Exporters may be spared from having to pay taxes on any services availed during the course of their business, and could just file a return as a proof, if the finance ministry accepts a proposal being readied by the commerce department for inclusion in the upcomi..

The Centre is unlikely to bring down the ceiling rate on the central sales tax (CST) from the existing two per cent to one per cent, it is reliably learnt. The current thinking in the Finance Ministry is that the CST should be wholly phased out at the time of introduction of the goods and services tax (GST)..

The Madras High Court has set aside an order of Chief Commissioner of Income-Tax, Coimbatore, levying ..

INCOME TAXATION OF LIMITED LIAB..

Biscuit manufacturers have sought abolition of excise duty and reduction in value added tax by as much as 4 per cent in the Budget, stating that the product is consumed by common man and also distributed as relief material. In a pre-budget memorandum to ..

 The Union finance ministry is considering an increase in the central excise duty for some of the products that had benefited from the two rounds of reductions announced by the government as part of its fiscal stimulus measures last year. In December 2008, the government had reduced the general rate of..

 Gem and Jewellery Export Promotion Council (GJEPC), the all-India apex body of the industry representing 5,500 members, has proposed to replace all forms of direct taxes with a levy of one per cent turnover tax. In its pre-budget memorandum to the Government, Mr Vasant Mehta, Chairman, GJEPC, said the..