Income Tax

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Latest blogosphere posts tagged “Income Tax”

• SC dismissed I-T dept’s plea to not allow French manufacturer capital gains tax benefit

  
  LEGAL & FINANCIAL UPDATES FROM TAX GURU — Authority: 446
  The Supreme Court today dismissed the Income Tax departments (I-T) plea challenging the decision of the Authority of Advanced Rulings (AAR) that allowed French firm Timken France SAS to claim capital gains tax benefits.Related posts:The option... [[ This is a content summary only. Visit my website www.taxguru.in for ...
  1 hour ago

• Does A 14 Year Old Child Have To File A Federal Income Tax Return If Earning Passive Income From A Umta?

  
  Earn Passive Income — Authority: 146
  Absolutely. The income is reported to the IRS under their SSN. If the amount is (or appears to be) more than $900 (no other income), they have a filing requirement. If they also have wages, as little as $300 can cause a filing requirement. If the unearned income is more than $1800, the part that is over $1800 is ...
  2 hours ago

• Playing petty politics with Britains economic future

  
  Family: News and advice on family matters children and parents — Authority: 975
  Telegraph View: The Thatcher revolution helped create a vibrant lowtax lightly regulated environment in which to do business. Yet the Government seems willing to jeopardise all this for the sake of scoring political points.
  8 hours ago

• Direct Tax Code, Changes in Transfer pricing regulations

  
  LEGAL & FINANCIAL UPDATES FROM TAX GURU — Authority: 446
  The issue of transfer price affects various types of taxes. Under Custom Laws, special valuation branch examines the validity of the transaction value between associated enterprises. In Service Tax law, service tax has been imposed on import of... [[ This is a content summary only. Visit my website www.taxguru.in for ...
  10 hours ago

• Income Tax department will send notice to companies who paid lesser advance tax

  
  LEGAL & FINANCIAL UPDATES FROM TAX GURU — Authority: 446
  Based on the analysis, the field formations have been asked to send demand notices to companies before December 15, the deadline for the third instalment of advance tax payment. "Most companies have posted better-than- expected second quarter... [[ This is a content summary only. Visit my website www.taxguru.in for ...
  11 hours ago

• Foreign Foreign companies or individuals, including FII can enjoy lower capital gain tax

  
  LEGAL & FINANCIAL UPDATES FROM TAX GURU — Authority: 446
  According to a recent decision of the Mumbai bench of the Income Tax Apellate Tribunal, non-resident companies and individuals are entitled to a beneficial rate of tax of 10% on long-term capital gains arising from the sale of shares of listed... [[ This is a content summary only. Visit my website www.taxguru.in for ...
  11 hours ago

• CBDT withdrawn circulars related to taxability of foreign companies and non-residents, engaged in specified business activities

  
  LEGAL & FINANCIAL UPDATES FROM TAX GURU — Authority: 446
  The CBDT has cited that such withdrawal is on account of their interpretation by some taxpayers, seeking to claim relief, which was not in accordance with the provisions of the Indian Income Tax Act (Act) or the intention behind these circulars.... [[ This is a content summary only. Visit my website www.taxguru.in ...
  11 hours ago

• If the search warrant is in joint names, an assessment in individual capacity is void

  
  LEGAL & FINANCIAL UPDATES FROM TAX GURU — Authority: 446
  As the search warrant was issued in the joint names of the assessee and her spouse, it means that the officer had reason to believe that the undisclosed assets and income were held jointly. If so, it is not open for the AO to assess the assessee... [[ This is a content summary only. Visit my website www.taxguru.in ...
  11 hours ago

• Japan Tax Revenue May Fall to 37 Trillion Yen This Fiscal Year - Bloomberg

  
  USTaxAid Services — Authority: 153
  Japan Tax Revenue May Fall to 37 Trillion Yen This Fiscal Year Bloomberg 16 (Bloomberg) — Japans tax revenue may decline to as low as 37 trillion yen ($413 billion) this fiscal year, falling short of the governments estimate … and more »
  21 hours ago

• A Tax a Day - Wall Street Journal

  
  USTaxAid Services — Authority: 153
  A Tax a Day Wall Street Journal This would convert the Medicare levy into a de facto version of the income tax . The tax on expensive health plans would at least provide some incentive to … and more »
  21 hours ago

• Industry group’s agenda shifts from home-buyer tax credits to lending issues - MarketWatch

  
  USTaxAid Services — Authority: 153
  KEPR 19 Industry groups agenda shifts from home-buyer tax credits to lending issues MarketWatch SAN DIEGO (MarketWatch) — After successfully lobbying for an extended and expanded home-buyer tax credit , the National Association … Lenders Torpedo Home Sales United Press International Report: ...
  21 hours ago

• New York to Lead Biggest Week for Muni Bond Sales Since April - Bloomberg

  
  USTaxAid Services — Authority: 153
  New York to Lead Biggest Week for Muni Bond Sales Since April Bloomberg New York has twice previously sold Build America bonds backed by personal income tax revenue through the states Dormitory Authority. …
  21 hours ago

• Industry group’s agenda shifts from home-buyer tax credits to lending issues - MarketWatch

  
  USTaxAid Services — Authority: 153
  KEPR 19 Industry groups agenda shifts from home-buyer tax credits to lending issues MarketWatch "The problem has been to convince lenders, federal agencies and Congress to push the money from Wall Street to Main Street," Giovaniello said. … Lenders Torpedo Home Sales United Press International ...
  21 hours ago

• Stimulus payout may come back to bite you at tax time

  
  Stupidica — Authority: 166
  That little extra bit of money in the form of a larger paycheck tied to the Obama stimulus plan could end up taking a bite out of your federal income-tax refund or even leave you owing taxes, say observers. The stimulus plan lowered federal income-tax withholding rates, which results in more take-home pay but less ...
  21 hours ago

• Tips On Managing Federal Taxes For Freelancers

  
  Understanding Marketing — Authority: 428
  One of the areas often difficult for a small business owner or entrepreneur is taxes, especially on a freelance level. With so many people writing on the side now (including bloggers looking to make it a profession), Meryl Evans put together some great tips on how to manage federal income taxes. She makes a ...
  1 day ago

• Loan to buy a site

  
  Prajna Capital - An Investment Guide — Authority: 128
  Some conditions usually applicable to avail a loan to buy a plot of land A loan to buy a site is available if you want to purchase a plot of land and construct a house on it later. Usually, the bank insists that the site be purchased from a recognised authority like a development authority such as the Bangalore ...
  1 day ago

• 29 Palms Band v. Schwarzeneggar State Income Tax Case

  
  Turtle Talk — Authority: 140
  As this article reports, the 29 Palms Band sued the State of California over gaming-related income on behalf of its off-reservation members. The court granted an earlier motion to dismiss, but allowed the Band leave to file an amended complaint on whether IGRA preempts state taxation. Here are the materials so far: ...
  1 day ago

• NRI status for Gift Tax

  
  Plan Your Investment — Authority: 128
  IntroductionIn this article I will be writing about the one of the important point regarding sending the gift as NRI and how long one has to maintain the NRI status to avail the gift tax exemption. This article explains the same. Read this article to know more about the NRI status. Please subscribe to our articles ...
  1 day ago

• PAN Meaning, Significance, who can apply and Procedure to Apply for the same

  
  LEGAL & FINANCIAL UPDATES FROM TAX GURU — Authority: 446
  Permanent Account Number (PAN) is a ten-digit alphanumeric identifier, issued by Income Tax Department. Each assessee (e.g. individual, firm, company etc.) is issued a unique PAN.Related posts:Revised procedure for acceptance of address proof... [[ This is a content summary only. Visit my website www.taxguru.in for ...
  1 day ago

• Outside directors caught ZBB tax error - Milwaukee Journal Sentinel

  
  USTaxAid Services — Authority: 153
  Outside directors caught ZBB tax error Milwaukee Journal Sentinel "Its a fairly unusual situation" to have a withholding tax problem of this kind involving a corporate officer, Rittenberg said. "You always feel bad when … and more »
  1 day ago

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