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SECTION 115BAA
Taxpayers denied new tax regime benefits for not filing Form 10IC; get relief from ITAT Mumbai for this reasonTaxpayers can now claim new tax regime benefits even if Form 10IC is filed late. The ITAT Mumbai ruled that technical errors or oversight s...- Income Tax Tribunal move to back 22% tax on capital gains sparks rowA tax tribunal's unusual decision has surprised many. It supported the tax department's move to charge 22% tax on capital gains. This is ba...
- I am 46 and I own a house. Should I buy a second property or invest in REITs for rental income?I am 46, and own a house. Should I invest in a second property to generate rental income, or should I consider REITs instead?
- What are REITs? What are the pros and cons of investing in them?If you are confused by personal finance terms, jargon and calculations, here’s a series to simplify and deconstruct these for you. In the 6...
- LTCG Tax: Govt weighing proposals to tweak its big tax move in BudgetIndia Inc had requested a phased transition to the new long-term capital gains tax regime proposed in FY25's budget, which eliminates index...
- CBDT extends date for domestic cos to gain 22% tax benefit under form 10-ICThe Central Board of Direct Taxes (CBDT) has granted an extension for filing Form 10-IC, which is required for domestic companies opting to...
- Income tax slabs for proprietorship businesses, professionals, partnership, domestic companiesGiven below are the income tax slabs for sole proprietorship business, professionals, partnership firms and domestic companies registered u...
- Long term capital gain surcharge capped at 15% for all assets, how will it impact you"This benefit was earlier available only for listed equity shares and mutual fund units. The extension of this benefit to unlisted asset wi...
- Assocham seeks 200% tax deduction for expenditure on COVID vaccine developmentThe chamber in its pre-budget memorandum to the Finance Ministry stated that for the purpose of section 35 of the Income Tax Act, “scientif...
- Whirlpool of India Q2 results: Net profit at Rs 134.67 crTotal income during the quarter under review stood at Rs 1,634.31 crore. It was at Rs 1,432.15 crore in the year-ago period last year, Whir...
- Income tax return forms for FY 2020-21 notifiedTaxpayers including individuals, Hindu undivided family, professionals and businesses, will be able to avail benefits of savings or investm...
- Buy Birla Corporation, target price Rs 650: Anand RathiThe brokerage believes that the company will benefit from its strong brand focus, higher blended cement/trade sales and investment in WHRS/...
- EEPC India seeks expansion of Sabka Vishwas scheme to matters relating to customsIn a letter to the Central Board of Direct Taxes (CBDT) , the EEPC India has stated that the Sabka Vishwas (Legacy Dispute Resolution) Sche...
- ITC net up 29% in Dec quarter on FMCG, hotel businessIt has filed an insurance claim, which is under process.
- Typo in tax bill? Bill says lower MAT not this yearHowever, while the Ordinance said that the lower MAT will be effective immediately, the Bill said the reduced MAT will come into effect fro...
- Corporation Bank net profit rises 26% to Rs 130 cr; bad loans come downThe bank had posted a net profit of Rs 103.01 crore in the corresponding quarter of 2018-19.
- Syndicate Bank reports Rs 251 crore Q2 profitTotal income in the September quarter increased to Rs 6,153.10 crore against Rs 5,888.87 crore in year-ago period.
- MAT credit not available to companies opting for lower corporate tax rateFirms that opt for the new tax rate will lose out on the Minimum Alternate Tax credit lying on their books.
- Infra companies, SEZ units unclear on use of MAT creditsWhile the ordinance enacting the lower tax does not ban companies from availing MAT credit, there is no clarity on how MAT credit will be a...
- View: Before abandoning the old regime of corporate tax, exercise cautionHere's an analysis of how the new regime of corporate taxation will affect India Inc.
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