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New TDS, TCS limits for FY2025-26 for interest, dividends, prize money, rent announced in Budget 2025: Thresholds hikedLandlords, travellers and parents sending children abroad for education will also benefit- Staff not liable if employer under IBC fails to deposit TDS: Bombay HCThe Bombay High Court has ruled that employees are not responsible for depositing tax deducted at source if their employer, undergoing reso...
- OECD comes out with multilateral convention to ensure MNCs fair share of taxes where they operateThe OECD has introduced a new multilateral convention to address base erosion and profit shifting, aiming to ensure that multinational corp...
- Government tightens rules on global credit card transactions by Indian travellers abroad, LRS comes into playThe Indian government has ended a key relaxation on the use of international credit cards (ICCs) by residents touring abroad. Such transact...
- FEMA rejig clears decks for 20% FDI in LICFEMA notification was required to operationalise provisions DPIIT issued through press note including FDI policy changes that will allow la...
- From crypto taxation to hike in 80C limit, what the market expects from BudgetWhile Indian corporates are expecting some key announcements which will enable them to reset their growth agenda, individual taxpayers are ...
- Cashless exercise of stock options taxable as capital gains, not as salary: Karnataka High CourtDasannacharya exercised his right under the stock option by way of “cashless exercise” where the underlying shares were not allotted but he...
- CBDT notifies revised Form 26AS, to now include real estate, share transaction detailsForm 26AS is an annual consolidated tax statement that can be accessed from the income-tax website by taxpayers using their Permanent Accou...
- Govt should keep in abeyance equalisation levy on non-resident e-commerce cos: ExpertsThe government should consider keeping in abeyance the 2 per cent equalisation levy on e-commerce companies as there are ambiguities surrou...
- CBDT notifies safe harbour rates for 2019-20 fiscalTransfer pricing implies the prices at which various overseas divisions of a company transact with each other. Generally, safe harbour is d...
- B2B firms exempted from using only BHIM, RuPay for accepting paymentsThe relaxation has been issued for B2B companies, “If at least 95% of aggregate of all amounts received during the previous year, including...
- CBDT defers requirement of registration of charitable, religious trusts by 4 months till Oct 1Earlier, such registrations/approvals were granted without any specific expiry period unless specifically withdrawn by concerned tax author...
- Global MNCs and startups seek delay of equalisation levyThe government in its Budget of FY 2020-21 put in place a new 2% levy on the online sale of goods and services into India by non-resident e...
- Firewall for China: New rules cover foreign indirect investment as wellIndian government has not prohibited such investments but only seeks to regulate them.
- I-T department watchful of transactions with companies from tax havens“The idea is to be vigilant towards such transactions,” said a department official. The department wants deeper enquiries into these transa...
- I-T return forms being revised to allow assessees to avail benefit of timeline extensions: CBDTThe Central Board of Direct Taxes (CBDT) said in a statement that it will revise the income tax return forms - Income-tax Return (ITR) Form...
- Donation by employees to PM-CARES fund through employer to reflect in Form 16 TDS certificateIn a notice, the Central Board of Direct Taxes has said that in cases where donation is made by an employee through his/her employer, a sep...
- Govt extends validity of lower withholding tax orders by 3 months till June due to COVID-19The Central Board of Direct Taxes (CBDT) in its order gave a major relief to taxpayers whose application for lower or nil deduction of TDS/...
- Change in transfer pricing regulations to help MNCsThe Union budget 2020-21 has proposed to amend the Section 92CB of the Income Tax Act that empowers the Central Board of Direct Taxes to fr...
- MNC Digital companies may face a minimum level of taxMultinational technology and digital companies may have to cough up a minimum level of corporate tax. The OECD seeks to use financial accou...
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