Major challenges that India face in key areas of fiscal policy Introduction Fiscal policy plays an increasingly important role in India. Decisions on fiscal policy, especially if properly synchronized with monetary policy, can help smoothen busi
NO TDS ON SERVICE TAXWith the advent of service tax, an interesting question has arisen whether tax is deductible at source under the IT Act even in respect of the service tax component of the pro
No Service Tax on Commercial Rent Section 65(105)(zzzz) of the Finance Act, 1994 defines taxable service of Renting of immovable property to mean any service provided or to be provided “in relation to” renting of immovable property for u
Whether Rental Income or Business Income ?The question whether income from property should invariably be taxed under the head “income from house property” is to be decided after taking into consideration the cumulative effect of all facto