"20 November 2008" Archive - Page 2

Hypothetical Tax Paid Abroad Not Income

In what would come as a relief to expat employees coming to India on a posting or Indian employees going abroad, a tax tribunal has ruled that they could exclude the amount deducted as ‘hypothetical tax’ by their employers from their taxable income in the country. The tribunal turned down income-tax authorities contention that this am...

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Posted Under: Income Tax |

ICAI to Oppose Valuation Professionals Bill

The government’s move to create a separate breed of corporate valuers in the country is set to face stiff resistance from the Institute of Chartered Accountants of India (ICAI), that trains and regulates the professional conduct of chartered accountants.The Institute is expected to tell the government that financial valuation of compani...

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Posted Under: Income Tax |

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