Income Tax : whether the losses of an undertaking of the Taxpayer which is not eligible for tax holiday (Non- eligible Undertaking), are requir...
Income Tax : The issue before the SB was that, while computing the amounts eligible for tax holiday under the Indian Tax Law (ITL), whether the...
Income Tax : Supreme Court (SC) [2010-TIOL-04- SC-IT] in the case of Oracle Software India Ltd. (Taxpayer) on the issue of whether the process ...
Income Tax : This article summarizes a recent ruling of the Supreme Court (SC) [2009-TIOL100-SC-IT] in the case M/s Liberty India (Taxpayer)...
Income Tax : Taxpayers in the infrastructure sector are often engaged in the execution of construction activities, which form a minor portion o...
Income Tax : State-owned Indian Oil Corp (IOC) has sought a two-year extension of tax breaks available for refineries so that its delayed Rs 29...
Income Tax : The finance ministry has rejected the petroleum ministry’s demand for giving a seven-year income tax holiday to those who win se...
Income Tax : The government today rejected the demands for tax exemption on setting up power plants, state maritime boards and port trusts, say...
Income Tax : Himachal Pradesh chief minister Prem Kumar Dhumal on Monday said commerce and industry minister Anand Sharma has recommended exten...
Income Tax : The government is likely to ease the incidence of minimum alternate tax, or MAT, on infrastructure companies. The department of re...
Income Tax : ITAT states that, it has to be pointed out that any tax holiday can be granted to a person who declares a truthful return. It cann...
Income Tax : The Karnataka High Court, in its recent ruling, in the case of CIT v. Expert Outsource Pvt. Ltd. held that deduction under section...
Income Tax : Where an undertaking existed in the same place, form and substance and did carry on the same business before and after the change ...
Income Tax : The option of choosing the initial year for claiming tax holiday under the Section for a consecutive period of 10 out of 15 years ...
Income Tax : Under the Indian Tax Laws (ITL), a taxpayer carrying on the business of generation of electricity, which qualifies for income-link...
The Finance Minister announced a slew of amendments on both income-tax and service tax fronts to achieve the objective of generating economic activity in the present environment of economic slowdown
No changes made in the Corporate Tax rates. For the Limited Liability Partnerships, the provisions of Income Tax are the same as applicable in the case of Partnership Firms formed as per the Indian Partnership Act’ 1932.
Freeing petrol and diesel prices from official control, restoring tax breaks on natural gas production and tax holiday for private oil refiners should be part of the government’s agenda in the first 100 days, industry wished. The Petroleum Federation of India, apex body of public and private oil firms, has submitted to the oil ministry a […]
Local city development agencies, such as Delhi Development Authority and Noida Development Authority, which have been raking in the moolah for some time from their housing projects, have drawn the attention of taxmen. The Central Board of Direct Taxes has sounded an alert to its field forces asking them to keep a tab on tax payments by […]
21. Five year tax holiday for hotels located in specified districts having a world Heritage Site 21.1 Section 80-ID of the Income-tax Act provides for a five year tax holiday to new hotels of two, three and four star categories and convention centres. It is a requirement that such hotel must be constructed and has […]
20. Five year tax holiday to hospitals located in certain areas 20.1 Sub-section (11B) of section 80-IB provides for a tax holiday for five consecutive assessment years, beginning from the initial assessment year, to an undertaking deriving profits from the business of operating and maintaining a hospital in a rural area. The undertaking is required […]
