Archive for July, 2009

Provision amended in Budget related to Profession Tax, Bombay Stamp Duty Act, and Bombay Motor Vehicle Tax Act applicable w.e.f. 01.07.2009

Notification for the Maharashtra Tax Laws (Levy, Amendment and Validation) Act, 2009 FINANCE DEPALRTMENT Mantralaya, Mumbai 400 032, dated the 29th June 2009 NOTIFICATION Maharashtra Tax Laws (Levy, Amendment And Validation) Act, 2009. No. VAT 1509/ C.R. 78/ Taxation-1.—In exercise of the powers conferred by clause (a) of sub-section (2) of section 1 of the Maharashtra Tax [...]
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Clarification regarding deduction under section 80-IB(10) in respect of undertakings developing building and housing projects

Instruction No. 4/2009, dated 30-6-2009 Under sub-section (10) of section 80-IB an undertaking developing and building housing projects is allowed a deduction of 100% of its profits derived from such projects if it commenced the project on or after 1.10.1998 and completes the construction within four years from the financial year in which the housing [...]
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