After days of number crunching and close to four rounds of hearing with Vodafone, the Income Tax Department on October 22, 2010, raised an order demanding the final amount of Capital Gains Liability Tax that the UK based telecom giant will have
The involvement of as many as 30 judges in the multi-crore provident fund scam has shaken the confidence of people in the judiciary, attorney general G E Vahanvati told the Supreme Court on Thursday while arguing for CBI’s application seeking transfe
Disgraced Satyam chief B Ramalinga Raju could be ruing his fate after the Supreme Court on Tuesday cancelled his bail but the apex court’s directive has brought a smile on the face of the state prison chief. The state prisons department is toying wit
Capital market regulator the Securities and Exchange Board of India (Sebi) has allowed domestic exchanges to introduce European style stock options, a move that is expected to boost volumes in these contracts. Currently, stock options on Indian excha
An employee becomes eligible for gratuity on the termination of his employment after he has rendered continuous service for not less than five years, according to Section 4(1) of the Payment of Gratuity Act, 1972. He is also entitled for interest on
The Institute of Company Secretaries of India (ICSI) in collaboration with Gurukul Online Learning Solutions (GOLS) have come up with an initiative in the form of e-MSOP. The e-MSOP is basically a web-based training (WBT) wherein physical presence of
The Delhi High Court on Tuesday directed the Centre to implement its National Sports Policy under which the upper age limit for the heads of sports federations has been fixed at 70 years. A bench headed by Chief Justice Deepak Misra gave the direct
The government has clarified that institutions like NGOs, charitable institutions and others who are eligible for tax benefits and can also issue tax benefit receipts to those paying donations would not need to renew their status unless it is withdra
TAX is payable on import of all software , even if the sale does not involve exercise of copyright, according to a Delhi tax tribunal order in a case relating to Microsoft . While the order, passed on October 28, is significant in terms of the liability to withold tax from payments made while importing software, the Delhi Income-Tax Appellate Order (ITAT) attracted the attention of tax professionals on account of its observation that questioned the sanctity of tax treaties.
Bombay High Court held in above case that the assessee is entitled to avail Cenvat credit on outdoor ‘catering services’ provided in the factory for employees. Ratio of Maruti Suzuki judgment been applied in the case.
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