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 me ..
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 di ..
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 communicatio ..
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 ..
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 cour ..
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 tax ..
The decision by the RBI to hike the repo and reverse repo rates by 25 bps last Friday signals the start of a tightening cycle which will keep the INR well supported. The RBI has stressed that developments on the inflation front are a source of growi ..
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 ..
The Commerce and Industry Ministry is not in favour of allowing foreign direct investment through automatic route in companies of limited liability partnership (LLPs) structure due to security concerns, an official said on Sunday. LLP, the new form ..
The Reserve Bank today raised its key short-term lending and borrowing rates by 25 basis points each as part of its tight money policy to combat inflation, which the government feels is a cause of concern. (Watch ) The repo and reverse rate (short-t ..
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