Tax Exemption

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

In a move that will significantly ease the tax burden on India’s biggest information technology companies, the government has decided to amend the law relating to tax exemption for units operating out of special economic zones (SEZs). SEZs set up by IT majors like Infosys, Wipro and Tata Consultancy Services (TCS) under the parent companies [...] Full Article

THE variety of information which is nowadays being sought under the RTI Act has indeed grown in quality and magnitude. One such quality question was volleyed at the CBDT which is related to Sec 11 of the Income Tax Act. Full Article