October 14, 2013
Bangalore tribunal rulings would likely encourage more companies to give employees flexi allowances as a part of salary.
New Delhi, Oct. 7
Need not fulfil KYC norms separately for opening bank account »
October 5, 2013
I am a public sector bank employee and will be retiring in October this year. My terminal benefits include gratuity and leave encashment. What will be the income tax liability on these benefits...
New Delhi, Sept. 29
At long last, tax authorities in India have been equipped with the right weapon to deal with aggressive tax planners who use sophisticated structures to avoid taxes.
By notifying the rule...
New Delhi, Sept. 28
Unable to sort e-filing muddle, taxman loads burden at 11th hour
New Delhi, Sept 26
The government today extended the last date for uploading audit reports of income tax returns by a month to October 31.The due date, which was earlier September 30, has been extended in the...
New Delhi, Sept 18
Net direct tax collection rose 12.7 per cent to Rs 2.38 lakh crore in first six months of the ongoing fiscal mainly on account of growth in personal income tax collection.The net direct tax...
Mumbai, Sept 16
Reflecting the economic slowdown, the advance tax remitted by the top 100 companies in the Mumbai region registered a growth of only nine per cent. Banks and firms in the financial secto...
Hyderabad, Sept 14
The Institute of Chartered Accountants of India today said that it will conduct an inquiry into the matter of the 21-year-old CA student allegedly hacking the Income-Tax account of industrialist A...
New Delhi, Sept 13
The Income-Tax Department has asked electronic filing taxpayers not having sent their returns copy for the two previous assessment years by post to its centre in Bangalore, to do so early....
October 12, 2013
I would like to transfer Rs 10 lakh to my father's account. He is an agriculturist and his income is exempt from tax. Since I have to pay tax on that money, would my father also be required to...
October 6, 2013
A tax loophole helped Vodafone. Nokia may not be as lucky in its royalty dispute. »
New Delhi, Sept. 30
The Central Board of Direct Taxes (CBDT) has extended the due date for filing of income tax returns from September 30 to October 14 in the case of income tax assessees in Gujarat. This f...
September 29, 2013
The characterisation of additional payments received as interest or capital gains has been a vexed issue.
Hyderabad, Sept. 27
The Managing Director of Kitty Steels Ltd, Hyderabad, has been sentenced to 3 months along with a fine of Rs 5,000 each for two offences related to the Income Tax Act.
The Court of the Sp...
Mumbai, Sept 26
The Mumbai Police, probing the alleged hacking by a CA student into industrialist Anil Ambani’s e-filing of income-tax returns account, have stumbled upon another CA student who not only accessed...
New Delhi, Sept. 17
The Income Tax Department on Tuesday extended the date to November 30 for filing of applications by Electoral Trusts for getting tax benefits on donations given to political parties.
September 14, 2013
I am a Union Government pensioner and my total pension exceeds the basic exemption limit applicable to senior citizens. Canara Bank from this fiscal has started deducting TDS every month. ...
Mumbai, Sept 13
A young chartered accountant student from Hyderabad has allegedly hacked into the e-filing of income tax returns account of leading industrialist Anil Ambani, with an intention to know his income...
Mumbai, Sept. 12
The court also directed the Department to hear Idea’s stay application “afresh”.