Income Tax : Explore the changes in taxation of debt mutual funds pre and post April 2023. Learn about impacts, benefits, and strategies. Inves...
Income Tax : In our tribute to top 25 GDP nations of the world, South Korea has shown a remarkable story to be written in golden letters. Like ...
Income Tax : Section 80P: Deduction in respect of Income of Co-operative Societies In case of all co-operative societies, except co-operative b...
Income Tax : Arjun (Fictional Character): Krishna, nowadays more and more people are making investments in mutual funds through SIPs? Krishna(F...
CA, CS, CMA : Understand the taxation rules for political parties. Learn about the conditions for excluding certain incomes and maintaining prop...
Income Tax : Reeling under the impact of global slowdown and a high interest rate regime, India Inc on Monday demanded that tax rates be retain...
Income Tax : Finance Minister Pranab Mukherjee today said the government is negotiating changes in a tax treaty with Mauritius, the country whi...
Income Tax : Five crore commemorative coins of Rs 5 denomination, unveiled recently to celebrate 150 years of taxation, will be minted for publ...
Income Tax : India signed Tax Information Exchange Agreements (TIEA) with various countries to avoid tax evasions and fiscal frauds such as mon...
Goods and Services Tax : The Maharashtra Sales Tax department is taking steps to apply more caution while disposing of VAT refund applications following di...
Income Tax : The applicant is a US-based manufacturer engaged in manufacturing of engineering goods and is also an R&D-based service provider. ...
Income Tax : The penalty proceedings and the assessment proceedings both are different. Explanation 1to section 271(1)(c) in respect of any fac...
Income Tax : A partnership firm is a separate entity than that of its partners under the Income-tax Act and therefore, partners vis-à-vis part...
Income Tax : As can be seen from the above the adjustment made by the assessee is according to the provisions of the Act. Since both the indust...
Income Tax : I have duly considered the rival contentions and the material en record. The perception of the CIT that the profit is low prompted...
Goods and Services Tax : Representations from various Trades and Associations have been received with a request to extend the due date for submission of Au...
Service Tax : Legal Consultancy Services provided from outside India, in relation to immovable property shall be deemed to be import of service...
Goods and Services Tax : In exercise of the powers conferred by sub-section (1) of section 42 of the Maharashtra Value Added Tax Act 2002 [Mah IX of 2005] ...
Income Tax : CIRCULAR NO-2/2008-Income Tax Securities and Exchange Board of India (SEBI) vide circular No.-MRD/DoP/SE/Dep/ Cir14/2007 dated 20/...
Income Tax : CIRCULAR NO. 7/2007-Income Tax The Board had issued Circular No. 790 dated 20th April, 2000, laying down the procedure for refund ...
Agriculture income is exempt under the Indian Income Tax Act. This means that income earned from agricultural operations is not taxed. The reason for exemption of agriculture income from Central Taxation is that the Constitution gives exclusive power to make laws with respect to taxes on agricultural income to the State Legislature. However while computing tax on non-agricultural income agricultural income is also taken into consideration.
1. Agricultural Income in India is Exempt from Income Tax u/s 10(1) of Income Tax Act, but agricultural income from outside India is taxable. As per entry number 82 of Union List, Central Govt. shall have the powers to levy income tax on any income except agricultural income.
Prerequisite to generate Annexure in Tally. ERP9 for filing your EVAT Return- 1. Press F11 (Company Features) –> Statutory & Taxation. In the displayed window, fill in the VAT Registration Number in the ‘VAT TIN (Regular)’ field – 2. Download the e-return templates (i.e, FORM-231.xls, FORM-232.xls and FORM-CST.xls) from the Govt of Maharashtra website ( http://www.mahavat.gov.in ) and copy to Tally.ERP 9 installed folder.
Reeling under the impact of global slowdown and a high interest rate regime, India Inc on Monday demanded that tax rates be retained at existing levels even as finance minister Pranab Mukherjee expressed concerns about challenges facing the economy.In their customary pre-Budget meeting with Mukherjee, industry leaders also demanded that healthcare services be kept outside service tax ambit, and privatise coal mines.
Finance Minister Pranab Mukherjee today said the government is negotiating changes in a tax treaty with Mauritius, the country which accounts for the maximum foreign investment in India. So far as Mauritius is concerned, we are having discussions with them for amendment of the avoidance of double taxation agreement. Talks are going on, Mukherjee told PTI when asked whether the government is looking at the possibility of imposing levies on inflows from tax havens.
Five crore commemorative coins of Rs 5 denomination, unveiled recently to celebrate 150 years of taxation, will be minted for public distribution soon. The coins, released by Finance Minister Pranab Mukherjee on February 26, will be put in public domain and will be a collector’s item. These will have no extra price, a senior Finance Ministry official said. The special coin was unveiled along with a coin in the denomination of Rs 150 on the occasion of completion of 150 years of taxation and also of the Income Tax department from 1860 to 2010.
India signed Tax Information Exchange Agreements (TIEA) with various countries to avoid tax evasions and fiscal frauds such as money laundering. Talking to mediapersons onboard the aircraft while returning from Paris after attending the G-20 summit, Finance Minister Pranab Mukherjee said: “India has initiated negotiations with other countries to prevent the black money from being stashed in foreign banks.
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The Maharashtra Sales Tax department is taking steps to apply more caution while disposing of VAT refund applications following discovery of a major refund scam involving officers of the department and traders in Palghar recently. Speaking at an even
