Income Tax India News
Aish gets tax relief on US, UK earnings
Actress Aishwarya Rai has got tax relief for earnings from the UK and the US. The Income-Tax Appellate Tribunal (ITAT), Mumbai has allowed the actress to take credit for the tax already paid in the UK and the US on these earnings.
Categories: Income Tax India News
I-T dept attaches Pyramid Saimira’s bank accounts
It is turning out to be a long season of bad news for Chennai-based theatre chain, Pyramid Saimira Theatre (PSTL).
Categories: Income Tax India News
Four million private PF subscribers may lose tax benefits
Over four mn employees affiliated to over 2,500 private provident funds face the threat of losing income tax benefits on their PF contributions, as the government seems to be having second thoughts over giving these bodies permanent recognition.
Categories: Income Tax India News
Automatic calculation of your capital gains tax liability
ET Portfolio Tracker’s Tax Wizard will automatically calculate your tax liability. Make your tax life easier, register and enter your transaction information now.
Categories: Income Tax India News
Know how to take advantage of tax deductions
Do your homework on various tax deductions available & take full advantage to save your hard-earned money. Investment Tips | Tax investments: Don't wait till March
Categories: Income Tax India News
Tax exemption on grounds of charity to be closely scrutinised
To curb the misuse of tax exemption given to charitable organisations, the government will now closely scrutinise accounts of large entities, which include NGOs and trade bodies, after it was found that some of them were allegedly indulging in commercial activities.
Categories: Income Tax India News
Now, send a SMS to pay your property tax
The new service, activated from January 1, promises to reach up to 14 lakh citizens.
Categories: Income Tax India News
I-T misses target by a mile, sets up a chase
This New Year could well be forgettable if you are the Income Tax (I-T) department’s chosen one.Those with unaccounted cash stashed away inside mattresses, behind false ceilings or dummy firms, are likely to be greeted by a rather unfriendly visit by officials.
Categories: Income Tax India News
MNC liaison offices may get tax breather
In a recent decision, the Authority for Advance Rulings (AAR) said that the liaison office of Ikea Trading (Hong Kong) does not earn any income in India because its activities are confined to the purchase of goods that are exported by Indian vendors to the company or its nominees.
Categories: Income Tax India News
GCC mulls income tax levy by 2012
Six Gulf countries have given in-principle approval to implement corporate and individual income tax by 2012, and are now mulling to bring the deadline closer.
Categories: Income Tax India News
Salaried crorepatis double in 2 years
Majority of millionaires earn between Rs 10- 20 lakh. In 2007-08, more than 1.5 lakh employees were earning in this income bracket. Richest Indians | Investment Tips
Categories: Income Tax India News
Advance warning, Tax mop-up dips 22%
Indicating slowdown in economic growth, advance tax collections declined in the third quarter, ending December, by over 22% to Rs 42,600 crore from Rs 54,900 crore a year ago.
Categories: Income Tax India News
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 circular clarifying activities that are termed as charitable and be eligible for income tax benefits.
Categories: Income Tax India News
CBDT gives new meaning to charity
Industry Chambers and other such trade organisation that were apprehensive of coming under tax net after the government expanded the dfinition of "charitable organisations" in the budget 2008-09 can breathe easy now.
Categories: Income Tax India News
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 agreements India has with other countries.
Categories: Income Tax India News
Panel suggests tax on solid waste management services
With the aim of meeting financial resources for effective waste management services, a parliamentary panel has recommended imposition of tax for the services provided.
Categories: Income Tax India News
JP Morgan launches tax saver fund
JP Morgan Asset Management said it has launched an open-ended equity linked savings scheme called JP Morgan India Tax Advantage Fund.
Categories: Income Tax India News
Investment declaration: Here’s a checklist
The most important document in an investment declaration is the investment proof. For home loans, it is the provisional repayment statement.
Categories: Income Tax India News
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 services exporters are believed to be pending.
Categories: Income Tax India News
Capital gains tax on property
A person may reduce the capital gains tax by complying with the provisions specified under the Income Tax Act. The Act contains provisions regarding taxation of capital gains arising out of transfer of house property.
Categories: Income Tax India News
