This could come as adampener to all those companies that rushed their employee stock option plan(Esop) offers before March 31 to avoid fringe benefit tax (FBT). The financeministry has clarified that FBT will apply on all Esop offers where the physic
Long delays in income tax refunds have promptedthe Finance Minister P Chidambaram to intervene. The Finance Ministerhas told his taxmen to get cracking and speed up the refunds.Hewants the taxmen to monitor all refund cases every month starting fromJ
The Ministry of Finance notified the salient features of new Return Forms for the AY 2007-08, whereby firms were mandatorily made liable to tax audit under s.44AB of the Income Tax Act 1961. Corporate taxpayers had an option to either file their retu
The system of tax deduction at source (TDS) could be expanded furtherto include more business under its domain. This means more types ofbusiness will have to deduct the tax, before making payments to parties.The revenue department is also considering
The trading community may soon come under greater income tax scrutiny.The finance ministry is likely to conduct income surveys based onaddresses picked up from trade directories. According to officialsources, the move would boost revenue collection a
LIKE residents, many non-resident Indians (NRIs) too have found the lure of investing in real estate irresistible. This has happened despite the fact that it is a herculean task for these NRIs to maintain their vacant apartments. Individuals who take
A division bench of the Bombay high court on Monday lashed out at the income tax department for having allegedly recovered TDS dues from an assessee within a day of serving a demand notice.The assessee's plea for two days to reply on the recovery pro
The I-T department, which believes that Hutch-Vodafone deal falls under the capital gains tax ambit in India, may scrutinise similar transactions.Transfer of beneficial interest of any asset in the country was liable to capital gains tax, a departmen
In a bid to reduce harassment of tax payers, the income-tax departmentis mulling setting up five centralised return processing centres indifferent parts of the country. Theconcept is to provide one-stop service to a tax payer at onecentralised place
The government is planning to place the income-tax rates in the newdirect tax code schedule. The schedule is akin to an annexure to theAct. This will give the government flexibility to change them withoutdisturbing the whole Act."Weare looking at sub
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
