Income Tax

Welcome to the 'Income Tax' tag page at Technorati. This page features content from the farthest reaches of the Blogosphere that authors have "tagged" with 'Income Tax'.

Latest blogosphere posts tagged “Income Tax”

• In case of gifted Assets, indexation benefit is available from the year of acquisition of the previous owner

  
  LEGAL & FINANCIAL UPDATES FROM TAX GURU — Authority: 158
  This article summarizes a recent ruling of the Special Bench (SB) of the Mumbai Income Tax Appellate Tribunal (ITAT) [ITA No. 7315/Mum/2007] in the case of DCIT vs. Manjula Shah (Taxpayer) which held that, in the case of gifted capital asset,... [[ This is a content summary only. Visit my website www.taxguru.in for ...
  13 hours ago

• Admissibility of deduction from book profit of ‘reduction in revaluation reserve’ under MAT provisions

  
  LEGAL & FINANCIAL UPDATES FROM TAX GURU — Authority: 158
  This ruling provides guidance that withdrawal from a revaluation reserve is permitted to be reduced from the book profit, computed under the MAT provisions, only in a case where the book profit was increased by the amount of revaluation reserve in... [[ This is a content summary only. Visit my website www.taxguru.in ...
  14 hours ago

• Electronic Gadgets Like Apple iPod - A Boon or Bane

  
  beastmoon [dot] com — Authority: 138
  Chris Jensen asked: It has become a necessity. But like everything in universe, electronic gadgets too have two sides to them. I am a house wife. I remember very clearly that evening when my husband came home, beaming from ear to ear. He had got a hefty refund on filing his income tax return. And [...]
  14 hours ago

• Perquisite Valuation rules not considered the inflation and old exempt amount limit been kept

  
  LEGAL & FINANCIAL UPDATES FROM TAX GURU — Authority: 158
  The fringe benefit tax (FBT) was strongly opposed by India Inc, but there is no doubt that it was beneficial to the employees — they did not have to directly bear the tax on many perquisites. The repeal of FBT meant uncertainty on taxation of perks.... [[ This is a content summary only. Visit my website ...
  14 hours ago

• BOOT OUT THE DEMOCRATS! But Not Just For Their Machiavellian “Health Care” Law; Add Their Machiavellian Sixteenth Amendment for Income Tax

  
  eNewsChannels — Authority: 138
  COLUMN: Congress Under Democratic Control = Democratic Controlled Legislation = Corrupt Machiavellian Law: Is The Inevitability of This Formula Finally Sinking In? In this posting, we will discuss the following topics: 1. THE SOCIALISM OR SOCIALISTIC IDEALISM OF THE DEMOCRATIC PARTY 2. THE MACHIAVELLIAN PHILOSOPHY ...
  20 hours ago

• Corporate Watch - Wall Street Journal

  
  USTaxAid Services — Authority: 152
  RTT News Corporate Watch Wall Street Journal Egyptian company Orascom Telecom Holdings (SAE) said it had appealed a $596.6 million tax bill levied against its Algerian subsidiary, a dispute that … East Texas towns fear Pilgrims Pride job cuts Dallas Morning News all 234 news articles »
  1 day ago

• Concessional rate of tax for foreign oil exploration and production companies

  
  LEGAL & FINANCIAL UPDATES FROM TAX GURU — Authority: 158
  Income of foreign companies providing technical services and data to oil exploration and production companies in India will be taxed at a concessional rate, the Authority for Advance Rulings (AAR) on income tax has said in a recent decision. The... [[ This is a content summary only. Visit my website www.taxguru.in ...
  1 day ago

• Government asked to exempt NBFCs from tax at source

  
  Thaindian News — Authority: 741
  New Delhi, Dec 28 (IANS) Non-banking finance companies (NBFCs) engaged in infrastructure financing should be exempted from tax deduction at source (TDS) on interest payment to asset financing NBFCs, an industry lobby has contended.“This will give NBFCs sufficient cash flows to support their working capital cycle,” ...
  2 days ago

• Income earned by CA from audits will not be entitled to relief u/s 80RR

  
  LEGAL & FINANCIAL UPDATES FROM TAX GURU — Authority: 158
  Income earned by the assessee by exercise of his profession as a Chartered Accountant and which is nothing to do with the exercise of the profession as a author will not be entitled to relief under Section 80RR. [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]
  2 days ago

• Advance Ruling on taxability of an American Institute for rendering certain work and service to FICCI-DRDO Innovation programme

  
  LEGAL & FINANCIAL UPDATES FROM TAX GURU — Authority: 158
  The services/activities provided by the American Institute to DRDO pursuant to the agreement entered into between FICCI and the American Institute do not fall within the purview of Article 12(4)(b) of the Indo-US DTAA and the payments received by... [[ This is a content summary only. Visit my website www.taxguru.in ...
  2 days ago

• Income from trading of shares will be speculative business within meaning of provision of Explanation to section 73

  
  LEGAL & FINANCIAL UPDATES FROM TAX GURU — Authority: 158
  Where assessee is engaged in trading in share of other companies, the business carried on by the assessee will be in nature of speculative business and profit or loss arising therefrom will be the speculative profit/loss. [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]
  2 days ago

• Determination of ALV of a let out property

  
  LEGAL & FINANCIAL UPDATES FROM TAX GURU — Authority: 158
  In respect of the properties where restriction under Rent Control Act is not applicable, the annual letting value has got to be determined after taking into consideration various factors and the standard rent or Municipal valuation may be adjusted... [[ This is a content summary only. Visit my website www.taxguru.in ...
  2 days ago

• ‘Investment company not suing Nicolas Cage for fraud’

  
  Thaindian News — Authority: 741
  Washington, Dec 28 (ANI): Nicolas Cage is not facing a lawsuit of 36.7 million dollars from an investment company, according to reports.People magazine has clarified Christmas reports suggesting that the ‘City of Angels’ star was on the verge of a huge financial battle with Red Curb Investments, indicating that ...
  2 days ago

• Even promise to render services at a future date would entitle Assessee to deduction u/s 80O of the Income Tax Act, 1961

  
  LEGAL & FINANCIAL UPDATES FROM TAX GURU — Authority: 158
  As rightly pointed out by Shri Pardiwalla, even a promise to render services at a future date would entitle the assessee for deduction u/s 80-O in view of the specific wordings in the section. [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]
  2 days ago

• Donation made for business purpose is allowable expenditure

  
  LEGAL & FINANCIAL UPDATES FROM TAX GURU — Authority: 158
  But now, we have to consider the alternative claim of the assessee, whether the assessee is entitled for deduction u/s.37(1) of the Act, of donation made in lieu of appeal made by the GOG as the abovementioned amount was paid because Gujarat State... [[ This is a content summary only. Visit my website www.taxguru.in ...
  2 days ago

• Two GOP candidates: get rid of corporate income tax - Radio Iowa

  
  USTaxAid Services — Authority: 152
  Two GOP candidates: get rid of corporate income tax Radio Iowa “I know folks in Sioux City would be very interested in this proposal because they have to compete with a state that has a zero corporate income tax ,” …
  2 days ago

• E-filing saves paper, time: RI to mail out fewer tax forms - Providence Journal

  
  USTaxAid Services — Authority: 152
  E-filing saves paper, time: RI to mail out fewer tax forms Providence Journal The Rhode Island Division of Taxation has begun the annual process of printing and distributing personal income - tax booklets in preparation for tax -filing …
  2 days ago

• Tom Davis: Make SC tax code fair, competitive - Greenville News

  
  USTaxAid Services — Authority: 152
  Tom Davis: Make SC tax code fair, competitive Greenville News Next, look at the fruits of those lobbyists labor: Our tax code has 112 sales tax loopholes . There is no rhyme or reason to these tax breaks; … and more »
  2 days ago

• School tax-credit deadline looming - Arizona Republic

  
  USTaxAid Services — Authority: 152
  School tax - credit deadline looming Arizona Republic This year marks the 11th year Arizona has offered tax credits for school donations. The public-school program would not exist if it were not for a similar … and more »
  2 days ago

• E-filing saves paper, time: RI to mail out fewer tax forms - Providence Journal

  
  USTaxAid Services — Authority: 152
  E-filing saves paper, time: RI to mail out fewer tax forms Providence Journal For example, a federal law enacted in February makes the first $2400 of unemployment benefits free from federal income tax for 2009. …
  2 days ago

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