Exemption

Notification No. 21(RE-2010)/2009-2014, New Delhi, the 10th February, 2011 Subject: Prohibition on Export of Non-basmati Rice – exemption for export of Sona Masuri, Ponni Samba and Matta rice- regarding S.O.(E)            In exercise of the powers conferred by Section 5 of Foreign Trade (Development & Regulation) Act, 1992 (No.22 of 1992) read with Para 2.1 of [...] Full Article

As per the decision of the Council, top 10 rank holders of the Professional Competence Examination (PCE)/ Integrated Professional Competence Examination (IPCE) and Final Examination effective from November, 2010 examination onwards are exempted from Full Article

Notification No. 52/2010 – Service Tax,   New Delhi, the 21st December, 2010 G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby rescinds the notification [...] Full Article

32. Whether gross expenses or net expenses (i.e. net of recovery) are to be considered for the purposes of FBT? For example, part of the expenses on various items like travel, may be recovered from the employees. Therefore, whether FBT would be levied on the gross travel expenditure or on the ‘net’ travel expenditure’? Where [...] Full Article

The finance ministry is considering a proposal to extend the tax exemption on inter-corporate dividends further down the chain of corporate subsidiaries in the upcoming Union Budget, a long-standing demand from India Inc. “The proposal is under consideration but a final decision has not been taken,” said a senior government official. The move is expected [...] Full Article

The Union finance ministry is considering an increase in the central excise duty for some of the products that had benefited from the two rounds of reductions announced by the government as part of its fiscal stimulus measures last year. In December 2008, the government had reduced the general rate of central excise duty for [...] Full Article

The government is considering a proposal to hike income-tax exemption Make these charges part of your budget available for interest payment on home loans to Rs 2.5 lakh a year, to boost demand and rebuild the slowdown-hit housing industry.The ministry of housing and urban development has urged finance minister Pranab Mukherjee to make an announcement to [...] Full Article

News Broadcasters Association has demanded exemptions in service tax, fringe benefit tax and hike in government advertisement rates as part of its pre-budget proposals. The proposals have been submitted before the finance ministry. Chief among them is the plea that advertisements in news and current affairs channels should not attract service tax. Arguing that the reach [...] Full Article