Tax Exemption - Page 6

Tax relief for IT firms; 100% I-T Waiver for SEZs Set up under Parent Cos

In a move that will significantly ease the tax burden on India’s biggest information technology companies, the government has decided to amend the law relating to tax exemption for units operating out of special economic zones (SEZs). SEZs set up by IT majors like Infosys, Wipro and Tata Consultancy Services (TCS) under the parent compa...

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Posted Under: Income Tax |

Norms relaxed for scrutiny of company tax returns

In what could be a major relief to the corporate sector, the Central Board of Direct Taxes (CBDT) has decided not to scrutinize tax returns of more than 1,000 top companies provided no serious disputes are pending against them. The annual returns of tax complying companies would not be scrutinized this year. The decision has been taken by...

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Posted Under: Income Tax |

Term 'wholly charitable or religious' u/s 11 of I-T Act

THE variety of information which is nowadays being sought under the RTI Act has indeed grown in quality and magnitude. One such quality question was volleyed at the CBDT which is related to Sec 11 of the Income Tax Act....

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Posted Under: Income Tax |

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