Compensation including interest on cancellation of contract not taxable in the absence of Permanent Establishment of the non-resident in India under India-UK tax treaty
In the Union Budget 2010, Finance Minister, Pranab Mukherjee proposed a new section 80CCF under the Income Tax Act of 1961. From financial year 2010-11, section 80CCF would provide an additional tax deduction, over and above the existing 80C deductio
Infrastructure Development Finance Company (IDFC), an integrated infrastructure finance company, has launched infrastructure bonds, giving a tax deduction of up to Rs 20,000 under Section 80CCF. The tax deduction will be above Rs 1,00,000 under Secti
The Centre is unlikely to propose a fresh set of constitutional amendments to facilitate the goods and services tax, or GST, having already bent backwards enough to accommodate concerns of the states.
India and Norway are all set to expand the scope of their double taxation avoidance agreement (DTAA) to facilitate greater information exchange on potential cases of tax evasion. After changes to the Indo-Swiss tax treaty this would be the second suc
NSDL has released new RPU 2.2 for e-TDS/TCS return preparation as well as correction statements. The key feature of new RPU 2.2 are as follows. Preparation of quarterly e-TDS/TCS statements (regular and correction) pertaining to FY 2010-11
Congratulations to the speculators of the Wall Street. They made the US stock market to climb 11000 mark, filled the pockets of the Wall Street through the stimulus packages and the CEO of the companies made their bad assets recovered from the tax sa
