NEW DELHI: The small scale pharmaceutical industry has sought Prime Minister Manmohan Singh’s help to remove anomalies created by maximum retail price (MRP)-based excise duty system for medicines.The system puts small units at a disadvantage by squeezing their margins as compared to big pharmaceutical companies based in excise-free zones. The government has been levying excise […]
MUMBAI: From now on, tax cannot be levied on the money paid by a builder to a housing society or private individual for redevelopment of property, the Income Tax Appellate Tribunal (ITAT) has said in a recent order. The verdict is expected to give a boost to the redevelopment business in Mumbai which has over […]
MUMBAI: This New Year could well be forgettable if you are the Income Tax (I-T) department’s chosen one. Those with unaccounted cash stashed away inside mattresses, behind false ceilings or dummy firms, are likely to be greeted by a rather unfriendly visit by officials. All this is not without reason. Faced with a worrying situation […]
