Posts Tagged ‘income tax’
IT raids in MP and Chhattisgarh, IAS Officers in net
The income tax department raided the residential premises of government officials, including several IAS officers, and officials of ICICI Prudential, a private insurance company on Thursday here.
perquisite taxation era to return
The much awaited rules for valuation of perquisites provided by an employer to its employees have finally been released by the Central Board of Direct Taxes (“CBDT”).
Goods and service tax with its implications
India may move to a dual Goods and Services Tax (GST) regime next year, but the Cenvat (excise duty) related exemptions, especially area-based ones, will not be withdrawn at one go for ushering in the new tax system.
Lets takes a look at this tax and its implications.
Resurgent India Inc pays more advance tax
India Inc seems to have posted a healthy performance so far this financial year if advance tax payments for the third quarter of 2009-10
are any indication with several companies shelling out much more than they had in the corresponding period last year.
Property tax goes up 5%, professional tax comes in
Besides the 5-per cent flat hike, the budget proposes tax for rented and self-owned luxury commercial properties be charged at 20 per cent and 15 per cent respectively. These luxury commercial properties — starred hotels, malls, air-conditioned gyms, swimming pools and clubs, among others — are charged a 10-per cent tax at present.