The Central Board of Direct Taxes has proposed that the sale of capital assets of a company operating in India, but registered overseas
The government, under the Finance Act, 2020, had allowed tax exemption for SWFs and pension funds in the case of incomes from investment in 34 key infrastructure sectors, including hotels, cold chains, educational institutions, hospitals, and gas pipelines.
The Opposition party asked whether the prime minister will take responsibility for the 'deadliest rail tragedy' of this century.
Ganesh Chaturthi celebrations will not be held at Bengaluru's Idgah Maidan, the Supreme Court said on Tuesday while refusing to grant permission for the function and ordered status quo on the plot by both parties. Noting that no such function as Ganesh Chaturthi was organised at Idgah Maidan for the past 200 years, the top court asked the parties to approach the Karnataka high court for the resolution of the dispute.
"Have you (counsel for the petitioner) seen the film? Have the people, who are burning cinema halls seen the film? By this kind of petitions you are encouraging the people who are agitating," the bench observed.
The passengers included 10 foreigners, according to the state-run Nepal Television.
Excise duty and other tax exemptions for attracting industries to hilly states may not go away, but could be limited to fresh investments in the Budget for 2007-08.
The Central Board of Direct Taxes on Tuesday notified the norms for valuation of employee stock option plans (ESOPs) for calculating fringe benefit tax (FBT). The rules will take effect from April 1, 2008, and apply from assessment year 2008-09. The notification said the value of stock options of listed companies would be the listing value - the average of opening and closing price - on the day the options were vested with the employee.
The Central Board of Direct Taxes (CBDT) is likely to increase the exemption limit for tax deducted at source on rental income to Rs 2,00,000 a year from Rs 1,20,000 at present.
The move is being viewed as an effort by the government to expand the taxpayer base.
The Central Board of Direct Taxes has asked all Chief Commissioners of Income Tax across the country to make special arrangements and keep open the I-T offices and receipt counters on March 29 (Saturday), March 30 (Sunday) and 31st (Monday) for the normal duration of office hours.
The guidelines on the valuation of employees' stock option plans (ESOPs) for calculating fringe benefit tax (FBT) will be issued by September 8.
The Central Board of Direct Taxes has clarified that employees are not to be taxed when they are issued non-transferable food coupons usable only at food outlets.
The Reserve Bank on Wednesday barred Mastercard Asia Pacific from onboarding new credit, debit and prepaid card customers with effect from July 22 as it failed to comply with data storage norms. The supervisory action will not impact existing customers of Mastercard, the Reserve Bank of India (RBI) said. Taking action against Mastercard, RBI said, "notwithstanding lapse of considerable time and adequate opportunities being given, the entity has been found to be non-compliant with the directions on Storage of Payment System Data".
The commodities transaction tax is likely to come into force within the next two months as the details, including the collection, payment and the procedures for filing returns, will take some more time to be firmed up. The CTT, which will be administered by the Central Board of Direct Taxes, will be levied at the rate of 0.017 per cent on sellers of commodity futures as well as options. Purchasers of options, who exercise them, will pay 0.125 per cent
The Delhi high court on Thursday sought the stand of the central government and Central Waqf Council on a PIL seeking to declare that the Waqf Act is in violation of the Constitution and that private properties of citizens can only be governed by a Uniform Civil Code.
The CBDT said this is "the final opportunity being provided to the taxpayers to regularise their pending ITRs pertaining to AYs 2009-10 till 2014-15.
Mumbai bids adieu to its iconic red double-decker buses.
The polling body said any such film that subserves purpose of any political entity or individual should not be displayed in the electronic media.
Kaizen Commercial had offered an initial capital of Rs 3 crore to Reliance Infocomm. In return, the company was offered 30 million shares at par.
Ruling out extension of July 31 deadline for filing income tax returns, IT authorities said on Monday special counters will be opened from July 28 in major cities to meet the eleventh hour rush.
The CBSE sent a confidential note to all examination centres in Delhi on Saturday, which carried a set of 10 instructions to be followed to introduce the new system.
The court said fresh counseling will start on Monday.
The Income Tax department has suggested an amendment for taxation of bad debt to the Central Board of Direct Taxes
Couples -- young and old -- celebrated Valentine's Day on Tuesday with flowers and gifts even as a few right-wing outfits played spoilsport in some parts of the country.
If indeed the issues involved between the government and RBI are of immense public interest, why not make public the arguments of both the government and the RBI, irrespective of the outcome of the process, says Tamal Bandyopadhyay.However, the Act is silent on what happens if the governor's views differ from that of the government. If Patel does not want to budge from his stance the government can either see merit in the Governor's arguments and decide against going ahead with its plan or overrule him. My guess is that the issues raised by the government need to be sorted out not at the November 19 board meeting but between the Governor and the government, says Tamal Bandyopadhyay.
The small investors must heed the advice of mutual funds and remain invested.
Comptroller and Auditor General has pulled up the finance ministry for flaws in double taxation avoidance agreements
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances