Vodafone - Page 7

Central Board of Direct Taxes (CBDT) is fighting many battles all at once – SSN Moorthy

The Central Board of Direct Taxes (CBDT) is fighting many battles all at once -- from the Vodafone tax case to pacifying India Inc on certain provisions of the direct taxes code, to voicing concerns on a hurried shift to IFRS. Haste makes waste. Th...

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Posted Under: Income Tax |

Supreme Court adjourns hearing on Vodafone tax case to 15th Nov

The Supreme Court on Monday adjourned hearing in the tax case against Vodafone to 15th November after the telecom company sought time to go through the Rs. 11,218 crore tax notice sent by the Income Tax department. ...

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Posted Under: Income Tax |

Income Tax Demand of Rs.11,218 Crore Raised on Vodafone for failure to deduct tax as required under section 195

The Income Tax department today issued an order raising a tax demand of Rs.11,217.95 crore on Vodafone International Holdings BV treating it as an assessee in default under section 201(1) of the Income Tax Act, 1961 (the Act) for failure to deduct ta...

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Posted Under: Income Tax |

Vodafone not agent of Hutchison- Files petition in HC

Vodafone said on Friday it has filed a petition in Bombay High Court defending itself against a new step by tax authorities treating the telco as an 'agent' of the seller in its $ 11-billion (about Rs 50,000 crore) takeover of Hutchison Telecom in 20...

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Posted Under: Income Tax |

SC refuses to offer any immediate relief to Vodafone

The Supreme Court on Monday refused to offer any immediate relief to Vodafone, which has challenged the Bombay High Court order allowing the government to tax the company's $11 billion deal with Hutch. The tax department had raised a demand for Rs 12,000 crore (Rs 120 billion) as tax on the 2007 deal. While refusing to stay the high court...

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Posted Under: Income Tax |

'No capital gains in Hutch deal; no tax payable'- Vodafone

Sticking to its claim that it does not have a tax liability, Vodafone today said it made no capital gains in the USD 11 billion (about Rs 50,000 crore) Hutchison buyout deal and would take necessary action to defend its position....

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Posted Under: Income Tax |

Supreme court declines to stay Bombay HC order in Vodafone tax plea case, Fresh Demand Notice soon

The Income Tax Department on Monday said that it will issue a demand for over R12,000 crore to Vodafone within four weeks, following a Supreme Court verdict to that effect. “We will be raising tax demand on Vodafone within four weeks,” CBDT Chairman S.S.N. Moorthy said. He said a few similar cases are also under the I-T department’s...

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Posted Under: Income Tax |

No SMS service to bank customers for transactions

Bank customers and equity trading account holders have stopped getting transaction alerts on their mobiles as the government has put a ban on bulk SMS service in wake of the pending judgement in the Ayodhya title suit. In view of the Government of In...

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Posted Under: Income Tax |

Ban on Bulk SMS and MMS Extended

The Ministry of Communications and Information Technology has today issued orders in consultation with the Ministry of Home Affairs to all Mobile Telecom Service Providers in the country that all bulk SMS and all bulk MMS messages shall remain banned...

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Posted Under: Income Tax |

Supreme court likely to hear Vodafone case on September 27

The Supreme Court is likely to hold a preliminary hearing in the landmark Vodafone International Holdings case on Monday next (September 27). British telecom operator Vodafone had on September 14 filed an appeal with the Supreme Court, after the Bomb...

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Posted Under: Income Tax |

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