A tax official said that the tax department may not object to a merger or restructuring plan but can still question the treatment of goodwill.
Category: Income Tax
Just 15% of outstanding arrears of corporate tax recovered in five years – The Hindu BusinessLine
The government has been able to recover just 15 per cent of the total outstanding arrears of corporate tax of Rs 20,78,267 crores in the
The SEBI diktat on auditor resignations is welcome – The Hindu BusinessLine
But a remedy needs to be found for auditors who are consistently negligent in their duties Implementing its proposals from its July discussion paper, the
All you wanted to know about E-Assessment – The Hindu BusinessLine
Following the Finance Minister’s announcement that faceless scrutiny will be implemented from Vijayadashami day, i.e. October 8, 2019, the Central Board of Direct Taxes recently
Income tax | Individual residential status: How is the residential status of an individual determined for income tax–Economic Times
The residential status is determined based on the number of days of presence of the taxpayer in India. The residential status of taxpayers plays a
Corporate tax cuts and growth | Business Standard Column
On September 20, Finance Minister Nirmala Sitharaman announced major changes in the structure of taxation for large Indian companies: The basic rate of company income tax was
Income Tax Returns: You can file ITR for FY 18-19 by December 31 – The Financial Express
By Chirag Nangia I missed filing ITR for FY18-19 (AY19-20) as I was abroad from June to August end. Can I file it now with
58,000 cases filtered for e-assessment: CBDT chairman – The Economic Times
Central Board of Direct Taxes (CBDT) chairman PC Mody on Monday said that 58,000 cases have been filtered for electronic assessment for the year 2018-19. “By using
Doesn’t make sense to let go MAT credits: Vedanta’s Pallavi Joshi Bakhru | Business Standard Column
Doesn’t make sense to let go MAT credits: Vedanta’s Pallavi Joshi Bakhru Pallavi Joshi Bakhru, group head taxation, Vedanta Limited, the metals-cum-mining conglomerate, explains why
The macro arithmetic of corporate tax cuts – The Hindu BusinessLine
C Rangarajan / DK Srivastava The changes in corporate income tax (CIT) changes announced last month by the Finance Minister constitute an important milestone in
No MAT credit, additional depreciation if you chose new lower tax rates – The Economic Times
The Central Board of Direct Taxes (CBDT) on Tuesday evening said that companies that opt for the new tax rate will lose out on the Minimum Alternate Tax (MAT)
Norms tightened, chartered accountants complain of compliance burden – The Financial Express
Earlier this month, NFRA asked auditors to provide client information on fees received by auditor for statutory audit, tax audit, non-audit services and out-of-pocket expenses.
Haven’t received your tax refund yet? Validate your bank account first | Business Standard News
If you have not received your tax refund, there’s a high probability that you don’t have a pre-validated bank account. From this year onwards, the tax department has made
Budget extends tax on NRIs for receiving gifts from resident Indians – The Economic Times
The Economic Survey said while the sustainable impact of the Insolvency and Bankruptcy Code (IBC) would be known in due course, green shoots had already emerged and
All you need to know about…Buyback tax – The Hindu BusinessLine
Finance Minister Nirmala Sitharaman in her maiden Budget, proposed to levy a tax on buybacks by listed companies. The tax, at 20 per cent, may
File tax returns if you have foreign trips, steep electricity bills – The Hindu BusinessLine
Here is why even those high spenders whose taxable income is below the threshold exemption limit of Rs 5 lakh should also file their returns.
IL&FS: Change in I-T Act may lure buyers to IL&FS–Economic Times
Since the NCLT has allowed recasting of accounts for IL&FS, whether the losses incurred in the recast financial results will be allowed to be carried
I-T will ‘suo motu’ allot PAN to those only furnishing Aadhaar: CBDT chairman – The Economic Times
The taxman will “suo motu” allot a fresh PAN to a person who files I-T returns with only Aadhaar as part of a new arrangement to link
ITR filing: Budget 2019 proposes to make filing ITR easier by providing data from various sources | Income Tax Return
To make tax return filing easier for taxpayers, Finance Minister Nirmala Sitharaman has announced that pre-filled ITR forms will be made available. These forms will now contain
Home Loan: Budget 2019 hikes tax break on interest paid on loan for affordable housing by Rs 1.5 lakh
This will translate in to benefit of Rs 7 lakh to the middle class home buyers over a loan period of 15 years. Budget 2019 proposes
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