Goa Govt. reduces 2% VAT on Petrol
In a significant move to reduce the petrol price in state, Goa Government has reduced the Value Added Tax (VAT) on petrol from 9% to 7%. The...
![Income Tax Exemption cannot be denied to a Trust deriving income from developing / selling of land under Statutory Scheme: Punjab & Haryana HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/06/Punjab-and-Haryana-High-Court-Tax-Scan.jpg "Income Tax Exemption cannot be denied to a Trust deriving income from developing / selling of land under Statutory Scheme: Punjab & Haryana HC [Read Judgment]")
Loss or Profit earned in derivative/future arbitrage can be Set Off against the Profit/Loss of delivery based Share Transactions: ITAT Mumbai [Read Order]
The Mumbai bench of the ITAT, recently in the case of J.M. Financial Services Ltd v. Joint Commissioner of Income Tax, held that the loss or profit earned in derivative/future arbitrage can be set off...
![Loss or Profit earned in derivative/future arbitrage can be Set Off against the Profit/Loss of delivery based Share Transactions: ITAT Mumbai [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/09/ITAT-Ahmedabad.jpg "Loss or Profit earned in derivative/future arbitrage can be Set Off against the Profit/Loss of delivery based Share Transactions: ITAT Mumbai [Read Order]")
Restaurants Billing ‘Service Charges’ in addition to Taxes is Optional: Consumer Affairs Department
Consumer has discretion to pay ‘service charge’ or not, says Department of Consumer Affairs . A number of complaints from consumers have been received that hotels and restaurants are following...
ITAT Ahmedabad allows Claim for Depreciation on Goodwill without a Revised Return during Assessment Proceedings [Read Order]
In a recent ruling, the division bench of the Ahmedabad ITAT held that Depreciation on 'goodwill' arising on amalgamation claimed by assessee company during course of assessment proceedings vide a...
![ITAT Ahmedabad allows Claim for Depreciation on Goodwill without a Revised Return during Assessment Proceedings [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/09/ITAT-Kolkata-TaxScan.jpg "ITAT Ahmedabad allows Claim for Depreciation on Goodwill without a Revised Return during Assessment Proceedings [Read Order]")
Central Indirect Taxes, Excise Duty up by 43.5%, Service Tax up by 25.7 % & Customs Duties up by 5.6% till 30 Nov,2016, Says FM Arun Jaitley
In a press conference held today, the Union Finance Minister Arun Jaitley made statement on ‘Remonetisation and its impact’ to media today. “On the November 8, the Prime Minister had asked for the...
