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CHAMBER OF TAX CONSULTANTS
Finance ministry may review MOOWR benefits for battery storage importsThe Finance Ministry is set to discuss customs warehousing benefits for imported battery storage systems. Industry groups have raised conce...
ITR filing deadline extension: Bombay HC orders tax dept to allow these taxpayers claiming 87A rebate to file ITR till January 15, 202587A tax rebate: The Honourable Bombay High Court said recently, "By way of interim relief, the... Central Board of Direct Taxes is hereby d...
Charitable trusts gasp under new regime, plead more timeWell-known firms of audit and tax professionals have requested the finance ministry to defer the new reporting forms.
JCCI calls for strike on Sat against J&K property taxJCCI president Arun Gupta said the strike call was taken after a series of meetings with civil society members and other organisations of t...
CBDT clarification on tax on freebies could create complications for unlisted companies, say expertsThe government had introduced a new section (194R) to the Income-tax Act, under which a 10% TDS was to be levied from July 1 on transaction...
It’s taxing: Selling assets and buying a new house? Beware of the tax pitfallsWhen a taxpayer earns long-term capital gains from any asset (other than a house), the I-T on the gains can be saved by taking the benefit ...
It’s taxing: Pay tax on long-term cap gains, even if your taxable income is below Rs. 5 lakhThe latter stand to benefit because of a rebate mechanism, that was introduced by the interim budget of 2019. A rebate is a deduction from ...
It's double taxation: Share buyback tax should go, like DDT, says TV Mohandas Pai in a BCIC reportThe buyback taxation should go just like the MoF did with the dividend distribution tax (DDT) that companies paid earlier, they said. “Shar...
Bombay High Court directs CBDT to clarify government’s stand on ‘Faceless Appeal Scheme’The Chamber of Tax Consultants has challenged the constitutional validity of provisions dealing with the ‘Faceless Appeal Scheme’.
Tax consultants challenge constitutional validity of 'Faceless Appeal Scheme’ in Bombay HCOne of the oldest industry bodies of professionals has argued that there is a reasonable apprehension in the mind of the taxpayers that thi...
Extend transfer pricing timelines due to Covid: Multinationals and their tax advisors tell governmentSome of the tax advisors have also reached out to the finance minister and the Central Board of Direct Taxes (CBDT) in this regard. Transfe...
India Inc to pitch for simplified I-T laws with FM Arun Jaitley tomorrowIn their pre-budget consultation with Jaitley tomorrow, industry chamber CII is likely to demand lowering of corporate tax rate to near 20 ...
New black money law creating panic, confusion: AssochamThe new black money law is creating panic and confusion among taxpayers, Assocham said, while asking the government to hold wider consultat...
Assocham seeks tax sops, GST in budget to revive growthAssocham shared its suggestions for reviving growth and boosting the manufacturing sector in a pre-budget consultation meeting with Revenue...
GAAR timing not right, defer it till 2018: CIIThe current guidelines are subjective and prone to misuse, and the timing is not right for such a regime, the apex business chamber said.
- Foreign univs offering services to non-profits not in tax net
A recent Authority for Advance Rulings decision makes business with the Indian non-profit sector more attractive for the foreign universiti...
- Foreign varsity's consultancy income not taxable in India: AAR
The income foreign universities earn by providing consultancy services to industry chambers or other non-profit organisations in India is n...