Income Tax - In View of pressure from all quarters Finance Mister Arun Jaitley has withdrawn the Proposal to Tax 60% of EPF/Superannuation Fund Proposed in Union Budget 2016 and which was to come into effect from 01.04.2016....
Income Tax - The Finance Minister in his Budget Speech, 2015 has indicated that the rate of corporate tax will be reduced from 30% to 25% over the next four years along with corresponding phasing out of exemptions and deductions. The Government proposed to implement this decision in a phased manner....
Income Tax - It is proposed to amend clause (va) of section 28 of the Act to bring the non-compete fee received/receivable( which are recurring in nature) in relation to not carrying out any profession, within the scope of section 28 of the Act i.e. the charging section of profits and gains of business or profession. ...
Income Tax - Under the existing provisions of clause (34) of section 10 of the Act, dividend which suffer dividend distribution tax (DDT) under section 115-O is exempt in the hands of the shareholder. Under section 115-O dividends are taxed only at the rate of fifteen percent at the time of distribution in the hands of company declaring dividends....
Income Tax - At present, in cases other than fraud, suppression etc cases the Service Tax Authorities can issue Show Cause Notice (SCN) within 18 months from the relevant date for non/short payment of Service Tax. Now, vide amendment to section 73 of the Finance Act, 1994 (Act) it is being proposed to increase the limitation period from […]...
Income Tax - E-Booking of Tickets on the Concessional Passes for Journalists to be Introduced Sale of Tickets through Helpline Terminals for Short Distance Travellers The Minister of Railways Shri Suresh Prabhakar Prabhu said that Indian Railways intends to commence sale of tickets through hand held terminals for the benefit of the suburban and short ...