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Demerger may not be tax-neutral if holding company issues shares: Mumbai ITATMumbai ITAT ruled demerger share issuance by holding company invalidates loss carry-forward. A subsidiary receiving business must issue sha...- Rs 17 lakh income tax refund claim was denied as taxpayer did not e-verify ITR since he was busy taking care of late father; ITAT Delhi allows refund for this reasonA Delhi landlord, busy caring for his ailing father, missed the deadline to e-verify his income tax return, leading to a denied Rs 17 lakh ...
- Balance sheet trick: Decoding another manipulation, and how to spot a bad apple in your portfolio before othersThere is one line in the accounts that most investors skip because it looks routine. But behind that line can sit disputed demands, old los...
- Budget 2026: Small tax fixes & a big ‘GIFT’ could power India’s energy ambitionsUnion Budget of India 2026: Amid geopolitical tensions, volatile prices, and the energy transition, Budget 2026 may steer cross-border inve...
- Industry seeks 15 per cent concessional tax rate extension, set-off of lossesIndustry bodies in India have submitted their wish list for the interim budget for 2024-25. They are requesting an extension of the concess...
- Extend concessional tax rate of 15% to domestic infra industry, LLPs: India IncIndustry groups are proposing several direct tax measures for the Vote on Account, including extending the concessional tax rate of 15% to ...
- Govt proposes changes in Banking Regulation Act, other laws to enhance investors' protectionTo facilitate certain strategic disinvestments, it is proposed to allow carry forward of accumulated losses and unabsorbed depreciation all...
- Potential bidders seek tax benefits on IDBI's lossesIDBI Bank is 95% owned by Life Insurance Corp of India (LIC) and the government, but the Reserve Bank of India (RBI) has classified it as a...
- Budget 2018: Government to provide tax relief to facilitate insolvency resolutionAmendments would be effected in the Income Tax Act in order to provide relief with respect to Minimum Alternate Tax (MAT) and carry forward...
- Budget 2018 must fill the biggest hole in reforms roadmap: High corporate taxesIt is pertinent to note that the present taxation regime for dividends is inefficient and increases the effective tax cost for the distribu...
- CBDT relaxes norms for MAT on firms facing insolvencyAppropriate legislative amendment in this regard will be made in due course, a Central Board of Direct Taxes statement said on Saturday.
- Indian companies under POEM to be taxed at 40 per centCentral Board of Direct Taxes has put up a draft notification for stakeholder comments. It has already issued norms for determining POEM of...
- Budget 2012: Make amalgamations in industrial sector more conducive, says CIII-T Act should be expanded to cover all services including activities of financial companies like NBFCs, insurance companies, hospital and ...
- Kingfisher-Deccan may get to carry forward lossesAs the combined loss of the two airlines is estimated at Rs 2,000 crore, the move may come as a major boost to the merged entity.
- Can MAT help ensure equity among corporate taxpayers?In India minimum alternate tax (MAT) provisions were introduced, as a measure of ‘equity’, to tax companies on the basis of their ‘ability ...
- CII seeks fiscal reforms for banking sectorCII has said there is need to initiate further fiscal reforms in the country's banking sector.
- PHDCCI for rationalisation of corporate taxThe PHD Chamber of Commerce and Industry (PHDCCI) has asked the government to rationalise the effective corporate tax structure.
- AI-Indian merger may cost Rs 300 crThe proposed mega merger of Air India and Indian would turn into a costly affair - with an estimated bill of Rs 300 crore.
- Loss-making companies get a sweet pillFor banks, tax relief will now ease the dead-weight of taking over another bank with accumulated losses. The Budget has allowed banks to ca...
- Kelkar retains sting despite cutsThe final report of the Kelkar panel on direct taxes is not very different from the initial consultation paper.
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