The door is wide open now for lawyers, chartered accountants and other professionals with entrepreneurial zeal to join hands to run innovative businesses that would also attract venture capital investments.The Budget has cleared the air of uncertaint ..
Expenditure made of more than 20000 in cash allowed to transporterEnhancement of limit for disallowance of expenditure made in the case of transporters Under the existing provisions of the Income-tax Act, where an assessee incurs any expenditure, in ..
Rationalisation of provisions relating to tax deduction at source (TDS) Tax deduction at source is a method of collecting taxes on behalf of the Government at the time of payment or credit. The Income-tax Act casts a legal responsibility on the deduc ..
Under criticism from Mulsim groups, Supreme Court judge Justice Markandeya Katju apologised for his controversial comments that Muslim students cannot insist on sporting beards as it would lead to ‘Talibanisation’ of the country.A bench o ..
Budget 2009-10 did not announce any big bang change in the country’s indirect tax regime, but yet succeeded in making the Centre’s intent very clear.Finance minister Pranab Mukherjee on Monday continued with the existing rates for centra ..
Employees will have to pay tax on Esops, superannuation and ‘other amenities’. First, the good news. The finance minister has removed the fringe benefit tax (FBT) on the value of certain benefits like employee stock options (Esops), sweat ..
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 ..
The economic slowdown has severely dented the Centre’s tax collections, with indirect taxes bearing the brunt. Having fallen throughout the 1990s, the Centre’s tax-GDP ratio had registered a steady increase from 8.97 per cent to 12.56 per ..
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. T ..
Fringe Benefit Tax and Commodity Transaction tax to be abolished NO CHANGE IN CORPORATE TAXES – MAT TO BE INCREASED TO 15% SUN-SET CLAUSES FOR DEDUCTION OF EXPORT PROFITS UNDER INCOME TAX TO BE EXTENDED BY ONE MORE YEAR DONATION TO ELECTORAL ..
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