Call them covert SEZs. To an enterprising businessman these pockets resemble tax havens. Places such as Leh in J&K, Itanagar in Arunachal Pradesh, Shillong and Tura in Meghalaya, Aizwal in Mizoram and many others have become hotspots for big-ticket i
For the kind attention of members Guidance Note on Tax Audit Under Section 44AB of the Income-tax Act, 1961Changes approved subsequent to the publication of the Supplementary Guidance Note.For further details on the guidance note click on the followi
Individual tax payers may be in for some cheer. The tax-free investment limit for individuals may soon be hiked from the present Rs 1 lakh to Rs 1.5 lakh. The proposal that the government is deliberating has a condition though: the additional Rs 50,0
After the success of large tax payer unit (LTU) at Bangalore, the Income Tax Department is keen on setting up the facility in Mumbai, which accounted for 40 per cent of the total direct tax collections. "IT Department, Mumbai region, will be organisi
IT companies may be struggling to cope with a rising rupee, but their tax payments are on an upswing. The total advance tax collection from IT companies in September grew by 110% to Rs 507 crore from Rs 242 crore in September, 2006. September 15 was
Considering the disruption caused by floods in the State of Bihar, the Central Board of Direct Taxes, in exercise of powers conferred under Section 119 of the Income Tax Act, 1961, hereby extends the due date for filing of returns required to be furn
TAXMEN DEMAND BETTER DEAL AS COLLECTIONS TOUCH NEW HEIGHTSIncome tax officers are awaiting the day when Finance Minister P Chidambaram approves a proposal to earmark 1 per cent of annual direct tax collections for meeting the annual expenditure of th
Facilities for revision of MEF 2007-08 as detailed below will be available upto 15th October 2007 on MEF website http://www.meficai. org/mefcorrectio n0708.htm Correction of data filled in the MEF Change in the status in which application was filed (
HC: Baksheesh is official spend Shibu Thomas | TNN Mumbai: "Saab, baksheesh.'' The Persian word for tip used by everyone from the MTNL linesman to the postman at Diwali has now been accorded legal sanctity. In an important judgment that will doubtles
The Income Tax department will soon introduce a new accounting tool that will be used against business houses suspected of concealing huge income by fudging their accounts and making fake entries to concoct balance-sheets. To be called Computer Assi
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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