Income Tax News

Dividend tax rate may come down to 12.5%

12 February 2008 at 11:57

Dividend tax rate may come down to 12.5%The Union budget may reduce the dividend distribution tax (DDT) rate from 15% to 12.5%. which was hiked in the last budget, citing "vertical equity." A reduction may encourage corporates to sh

Posted in Income Tax | 5958 Views

Budget Session Commences on February 25

12 February 2008 at 10:17

Budget Session Commences on February 25 The commencement of the Budget Session will be on the 25th of February. The session will conclude on May 9, contingent on government business. The session will also have a break from March 20 to April 15 for th

Posted in Income Tax | 2547 Views

"Nano" housing loan scheme demanded by Cong.

08 February 2008 at 20:27

It was much expected that after the launch of the car "Nano" we shall see many more "Nano" concepts coming up.. and here it is the the ruling Congress party demanded that its government launch a unique housing loan scheme of Rs 1 lakh to help the poor

Posted in Income Tax | 2850 Views

Even Sportpeople cannot escape TDS:

08 February 2008 at 20:27

An announcement may be made by the finance ministry in this budget regarding TDS to be paid by professional sportspeople. They may soon have to pay at least 10.3 per cent as tax on their match fees and money for endorsing corporate logos on their app

Posted in Income Tax | 4017 Views

Equipped for industrialists:

08 February 2008 at 20:27

Value added taxTurnover for registration limit to be increased from Rs 2-5 lakh so as to exclude small and tiny dealers. The turnover for composition tax limit to be enhanced from Rs 15-40 lakh, so that small dealers are exempted from regular re

Posted in Income Tax | 2607 Views

Who is who of Retail Sector speaks their "heart out"!!

08 February 2008 at 20:27

N V Sivakumar, leader, retail practice, PricewaterhouseCoopers · Retail sector has not been fully liberalised - Foreign equity participation should be extended, especially in a situation where most foreign retailers are sensitive to the pr

Posted in Income Tax | 2655 Views

UPA, Left desires: Budget for the masses- "aam aadmi budget".

08 February 2008 at 20:27

The UPA government and its Left allies agreed on Thursday that the coming Budget should be an 'aam aadmi' Budget. According to leaders of the coalition government present at the meeting, the wish lists of the UPA partners and the Left allies mor

Posted in Income Tax | 2286 Views

Tax Administrtation Intakes IT Facility : Government

08 February 2008 at 16:03

Tax Administrtation Intakes IT Facility : Government India ranks165th, as placed by a World Bank-IFC-PricewaterhouseCoopers study called Paying Taxes, 2008. India's ranking, measured on the basis of ease of paying taxes, was marginally b

Posted in Income Tax | 2412 Views

Income Tax Surveys in full swing

08 February 2008 at 10:14

Income Tax Department had recently carried out a search operation against a group of Gurgaon engaged in development of real estate and running a private airline. On the basis of evidence collected during that search, surveys were subsequently conduct

Posted in Income Tax | 1 comments | 5055 Views

Charitable Trusts under Finance Minister's Scrutiny

07 February 2008 at 16:30

Charitable Trusts under Finance Minister's Scrutiny The government is considering a proposal to redefine and narrow the concept of "charitable activity" to ensure that only deser

Posted in Income Tax | 4230 Views