Income Tax Rates Chart (For Individuals, HUFs, Association of Persons, Body of Individuals) for A.Y. 2010-11 and F.Y. 2019-10
Income Tax Rates Chart (For Individuals, HUFs, Association of Persons, Body of Individuals) for A.Y. 2009-10 / F.Y. 2008-09
Income Tax Rates (For Individuals, HUFs, Association of Persons, Body of Individuals) ASSESSMENT YEAR 2008-2009 RELEVANT TO FINANCIAL YEAR 2007-2008 I TAX RATES FOR INDIVIDUALS OTHER THAN II & III Upto 1,10,000 – Nil 1,10,000 to 1,50,000 – 10% of the amount exceeding 1,10,000 1,50,000 to 2,50,000 – Rs.4,000 + 20% of the amount exceeding […]
In respect of the issue as to whether service tax liability would arise on the assistance provided by visa facilitators, to individuals directly, for processing of visa applications, the CBEC has clarified vide CIRCULAR NO 137/6/2011-ST, Dated: April 20, 2011 that:
The Income Tax (Sixth Amendment) Rules, 2011 are notified with effect from 1 July 2011 to provide that, a firm required to furnish the return of income in Form ITR-5, or an individual or Hindu Undivided Family (HUF) required to furnish the return of income in Form ITR-4 and to whom provisions of section 44AB of the Act are applicable, shall furnish the return of income electronically under the digital signature, with effect from AY 2011-12.
An individual, whose total income for the relevant assessment year (AY) does not exceed Rs. 5,00,000 and consists of only income chargeable under Salary Income from other sources, by way of interest from a savings account in a bank, not exceeding Rs. 10,000
CIT Vs V. R.V. Breweries & Bottling Industries Ltd. (Delhi High Court)- The observation made in paragraph 58 at page 414 of the aforementioned judgement, on which reliance has been placed by the learned counsel for revenue seeks only to emphasise that the assessee in that case, had only acquired access to technology which was not related to any secret process or patent rights and thus in continuum it is mentioned that not even a right to use the trademark or brand name had inhered in the assessee.
The expenditure was incurred by the assessee on ad films in respect of an ongoing business and there was no enduring benefit on the same. Hence, it was asses-sable as revenue expenditure, An expenditure incurred on advertisements and websites for sales promotion is revenue in nature. Computer peripherals are entitled to depreciation at 60%.
DCIT Vs. M/S. Essar Oil Limited (ITAT Mumbai)- Whether the profits of Oman PE and the loss of Qatar PE of the taxpayer are to be excluded for tax purposes in India, as per Article 7 of respective DTAAs?
Jet Air (P) Ltd. Vs CIT (ITAT Mumbai)- The matter was remitted to the CIT(A) for disposal afresh since the CIT(A) had dismissed the assessee’s appeal without adjudicating upon the question as to whether the law to s 248, as amended with effect from 1 June 2007, was applicable or not merely on the ground that it had never approached the AO for a certificate under s 195(2) for the remittance of the amount without the deduction of tax.
