News

Dramatic refunds decline aids direct tax collection shoot up in April-May

Net direct tax collections up by 172.64% in Apr-May of FY 2012-13; Tax refunds decline by over 50%; Gross corporate

Jun 13,2012

Rising litigation a serious concern, CIT(A) to dispose cases quickly, says FM

FM raises concerns over pendency of CIT(A) cases; Calls for deployment of sufficient manpower and reduction in disposal time to

Jun 12,2012

Direct Tax collections up by 13% in FY 11-12

Gross direct tax collections up by 13% in FY 11-12; Gross corporate tax collections up by 11.5%; STT collections down

Jun 06,2012

FM approves issue of Circular to avoid multilevel TDS on software u/s 194J

FM approves issue of Circular to avoid multilevel TDS on software u/s 194J

Jun 04,2012

President gives nod to Finance Bill, 2012

President gives nod to Finance Bill, 2012

May 28,2012

HC : No re-opening of pre- 2001 assessments beyond 6 years

IT Department not entitled to initiate re-assessment proceedings u/s 147 pre- 2001 beyond 6 years: Delhi HC

May 25,2012

Govt's White Paper : Hutch-Voda misused corporate structure for tax avoidance

Hutch-Voda misused corporate structure for tax avoidance; Round-tripping, Opaque tax-avoidance structures, major causes of black money generation; Exchange of information,

May 22,2012

Export testing fees taxable under IT Act, HC reverses ITAT ruling

Fees paid by Havells to US agency for testing & certification of exported products, amounts to 'fees for technical services'

May 21,2012

FM releases White Paper on Black Money, identifies Transfer Pricing as key cause

FM releases White Paper on Black Money, identifies Transfer Pricing as key cause

May 21,2012

FM refuses to concede an inch on retro amendments as Rajya Sabha clears Finance Bill

Rajya Sabha clears Finance Bill 2012; Retro amendments done by many FMs but why hue and cry only now, questions

May 16,2012

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