Corporate taxpayers can now hope for speedy justice. The Bombay High Court has set aside an order of the Income Tax App
Pending tax refund up to Rs 25,000 to be given soon
Quick income-tax refunds may come because the government has asked the I-T department to soon process refund claims up
Service exporters yet to get Rs 1k cr in tax refunds
Even as the government steps up efforts to stimulate flagging exports, more than Rs 1,000 crore in refund claims to ser
I-T department to investigate frozen demat accounts
The income-tax department will start investigation into lakhs of frozen demat accounts to unearth black money and undis
Speedy disposal of I-T cases
The Bombay High Court has directed the president of the Income Tax Appellate Tribunal to frame and lay down the guideli
Now, brokerage & insurance services likely to come under TDS ambit (2008-09)
Brokerage, insurance and business auxiliary services are some of the services which may soon be brought under the tax d
Corporate advance tax collections in Mumbai falls first time in 5 years
Corporate advance tax collections in Mumbai, which contributes about 35-40% to the country's tax kitty, have fallen bel
CBDT has issued a new Form of report for claiming deduction u/s 80-IB(11C)
CBDT has issued a new Form of report for claiming deduction under sub-section (11C) of Section 80-IB of the Income-tax
CBDT gives new meaning to charity
Chambers and other such trade organisation that were apprehensive of coming under tax net after the government expanded
No tax on membership fee of industry bodies
Industry chambers apprehensive of losing tax benefits can breathe easy. The Central Board of Direct Taxes has issued a
New tax code to stop treaty shopping
The government may introduce provisions in the new direct tax code to prevent misuse of double taxation avoidance agree
Advance warning, Tax mop-up dips 22% for Dec 2008
Indicating slowdown in economic growth, advance tax collections declined in the third quarter, ending December, by over
HC relief for foreign law firms on tax payment
In a significant order, a division bench of the Bombay high court has ruled that foreign law firms, even though working
Income Tax exemption on home loans may be doubled
The government is considering a proposal to double the income tax exemption limit on housing loans to Rs 3 lakh from th
PENDING TAX REFUND UP TO RS 25,000 TO BE GIVEN SOON: GOVT
The government has asked the I-T department to soon process refund claims up to Rs 25,000 for every assessee whose tax
CAs to be restricted from taking non-audit work
The government will be preventing Chartered Accountants from offering consultancy and advisory services to the companie
Tax sword looms large on cross-border acquisitions
Since August last year, the world has been watching. It all began with a show cause notice issued to Vodafone BV (based
COST INFLATION INDEX (CII) for FY 2008-09 (AY 2009-10)
SECTION 48, EXPLANATION (V) OF THE INCOME-TAX ACT, 1961 - NOTIFIED COST INFLATION INDEX FOR FINANCIAL YEAR 2008-09NOTIF
MVAT E-FILING OF RETURNS MADE APPLICABLE TO ALL DEALERS
The Commissioner of Sales Tax, Maharashtra State has issued Notification dated 20th December, 2008 making the E-filing
Service Tax For Dry cleaning Services
Dry cleaning services provided to a customer by a dry cleaner is liable to service tax. Dry cleaner has been defined as
Service tax Levy For Fashion Designers
The government, in a circular dated 1 August 2002, has clarified that sometimes fashion designers not only provide desi
Taxation Of Mutual Funds - Investment Or Stock In Trade
Normally it should be taken that the units are held as investments. You can claim the income distributed by the mutual
Basics Of Calculating HRA Exemption
House Rent Allowance(HRA) is part of salary packagecalculation of HRA exemption.Least of following three will be exempt
DEPARTMENT ISSUING NOTICE TO CHARITABLE TRUST IF THEY COLLECTING ANY FESS , CESS OR OTHER CONSIDERATION FOR SERVICES RENDERED
Recently, many industry organisations in the country have received notices from the Income-tax department asking them t
TAX STRUCTURE IN INDIA
1) Qus. : What are you doing? Ans.: Business. Tax: PAY PROFESSIONAL TAX! 2) Qus. : What are you doing in Business? Ans
Department activities to increase tax collections
The income tax department is set to act tough on state governments, many of which have been defaulting on deducting tax
Difference between TDS and TCS
Tax deduction at Source (TDS)Persons responsible for making payment of Income covered by the scheme of tax deduction is
Tax Refund Status
visit the link below to know your TAX REFUND STATUSTax Refund Status
Check Your TDS Deposited Amount Details Here
TIN facilitates a PAN holder to view its Annual Tax Statement (Form 26AS) online. Form 26AS contains» details of tax de
Definition Of PROFESSIONALS Expanded By CBDT
The Central Board of Direct Taxes (CBDT) expanded the scope of professional services to cover sportspersons, umpires an
Income Tax Return After Due Date-Anlysis
Last Month was a very busy one for Income tax offices, as Offices were overcrowded bu tax payers due to last date of Fi
205A. Unpaid dividend to be transferred to special dividend account
Unpaid dividend to be transferred to special dividend account (1) Where, after the commencement of the Companies (Amend
Tax implications of foreign house ( Sec - 54)
Conceptually, there is no ground to give Section 54 benefit to a person who acquires a house property or constructs it
Certain Tax Terms & Meaning
Service tax on construction The construction industry is growing rapidly, mirroring the overall growth in the economy.
Tuition and Fees Tax Deduction
You may deduct up to $3,000 of qualifying higher education tuition and fees as long as your modified adjusted gross inc
IRA Deductions
An individual retirement arrangement, or IRA, is a personal savings plan which allows you to set aside money for retire
you can save up to Rs 44,000 Tax a year
From the point of retail investors the budget is good; he has given tremendous relief for income tax. Salaried professi
Vodafone challenges Indian tax law
Vodafone Challenges US$2bn Indian Tax BillLondon, June 23: British telecom major Vodafone is challenging in t
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