CAclubindia News

Pay FBT in advance

13 March 2007 at 23:25

TAX payers will now have to pay FBT when they make payments for advancetax to the governments. Budget 2007-08 has aligned the due dates forpayment of FBT with advance corporate or income tax.Finance Minister P Chidambaram has proposed amendments in t

Posted in Corporate Law | 8211 Views

Esops too are fringe benefits, to be taxed

13 March 2007 at 23:19

Companies may not be as generous with Esops since it would result in a rise in their tax expenses. Employee stock option plans (Esops) will now be brought under the purview of the fringe benefit tax (FBT). Thus,companies will now have to pay tax at f

Posted in Corporate Law | 6429 Views

Ministry orders e-filing of excise, service tax

13 March 2007 at 23:04

After the launch of the e-filing process for income tax returns, it is now the turn of excise and service tax departments.Thefinance ministry has made it mandatory for all assessees paying exciseand service tax of Rs 50 lakh and above, to pay the tax

Posted in Corporate Law | 6519 Views

Government may levy income tax on dividends

13 March 2007 at 23:03

Income from dividends, which is at present taxed in the hands of the companies, could soon be added to one's income and may have to shell out the applicable income tax.

Posted in Income Tax | 7242 Views

Exemption - Form & Contents of Accounts

11 March 2007 at 11:42

In certain situations, a company can seek exemption from therequirements of Sec. 211 of the Companies Act, 1956 relating to theForm & Content of Balance Sheet and Profit & Loss Account.Application to Central Government -Sec.211(4) provides th

Posted in Corporate Law | 7788 Views