Section 80C of the Income-tax Act provides for a deduction of up to Rs. One lakh to an individual or a Hindu undivided family (HUF) for:- (i) making investments in certain savings instruments; or(ii) incurring expenditure on tuition fee and repayment
The Institute of Chartered Accountants of India (ICAI) has planned Centres of Excellence realising the power of soft skills required to become a competitive professional and to empower its members."We have decided to spend Rs 200 crore in five years
YEAR END REVIEW-2007- MINISTRY OF CORPORATE AFFAIRS The name of the Ministry has been changed from 'Ministry of Compan
Direct tax collections continued to record a growth of over 40 percent for the period 1st April to 15th December 2007. According to provisional data, net tax collections stood at Rs.1,64,407 crore, up from Rs.1,15,377 crore during the same period las
Professionals, both salaried and self employed, as well as traders should be prepared to pay more tax. The Centre is considering amending the Constitution to raise the ceiling on professional tax from Rs 2,500 per annum at present to Rs 5,000.The tax
The government is extending the due date of filing of income tax return to February 29, 2008. The centre on Friday informed the Supreme Court that the due date for of filing of income-tax return was being extended in view of the confusion regarding f
"RBI Panel is being submitted in two phases. First list is expected to be hosted by Monday, December 10, 2007. Members/ Firms falling in 1st list can check their category by inputting their MEF No. The second list is under preparation and expected to
NEW SYLLABUSThe Institute has taken a very positive approach towards providing high standard of education and training to the students andarranging continuous development programmes for the members. The new syllabus has been framed following the Inte
The Finance Ministry appears to be favorably inclined toward moderating income tax rates in view of the over 40 per cent growth in direct tax collections. "With improvement in voluntary tax compliance and tax administration, direct tax collections ar
NEW DELHI: The Supreme Court said on Tuesday professionals cannot claim depreciation under Section 32 of the Income Tax Act. The Section is applicable to an assessee carrying on business and not to a professional, the apex court said, dismissing an a
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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