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Bank liable to pay Income Tax on Interest on Sticky Loans/NPAs on Receipt Basis: Himachal Pradesh HC [Read Order]

A Division Bench of the Himachal Pradesh High Court recently held that, the assessee-Kangra Central Co-operative Bank Limited is liable to tax only...

Family Pension Taxable as “Other Income”, TDS u/s 192 of Income Tax Act Not Applicable: CBDT...

CBDT Clarifies Rates and Other Significant Issues relating to TDS on Salaries [Read Circular]

Income Tax Addition u/s 69A can't be based on Doubt: ITAT [Read Order]

Income Tax Dept Warns Taxpayers about Fake Account Posing as Customer Care/Helpline

Section 115BBE of Income Tax Act not to be triggered by modifying premise of revisional directions: ITAT [Read Order]

A Division Bench of the Income Tax Appellate Tribunal ( ITAT ), Delhi held that Section 115BBE of Income Tax Act, 1961 not to be triggered by modifying premise of revisional directions. The...

Relief to BBC: No Income Tax on Receipt from Distribution of News in India, rules ITAT [Read Order]

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has recently ruled that BBC World Distribution Limited (BBCWD) is not liable to income tax for distribution of channels in India. BBCWN, the...

Expenses towards Development of Abandoned Software Eligible for Income Tax Deduction: Bombay HC [Read Order]

A division bench of the Bombay High Court has held that the expenses incurred in respect of the development of an abandoned software would be eligible for income tax deduction as the same constitute...

Income Tax Deduction u/s 43B not applicable to Mine Closure Fund: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench held that Income Tax Deduction u/s 43B of Income Tax Act, 1961 not applicable to Mine Closure Fund. The assessee-company,Gujarat Mineral...

B. Com Vacancy in TMF Group

TMF Grouphas invited applications for the post of Executive - Accounting and Taxation. Qualifications Graduate/Post graduate/MBA (Fin) with minimum 2 years of industry experience.Must have...

CII Advocates Lower Income Tax Rates, Reduce GST on Consumer Durables ahead of Union Budget

While submitting the suggestions for the direct and indirect taxes, the industry body Confederation of Indian Industry (CII) urged the Government to slash income tax rates and reduce 28% GST on the...

CII - Advocates - Lower - Income - Tax - Rates - Reduce - GST - Consumer - Durables - Union - Budget - TAXSCAN

Hindi Sahitya Sammelan eligible for Income Tax Exemption u/s10(23C) (vi) of Income Tax Act: ITAT [Read Order]

The Allahabad bench of Income Tax Appellate Tribunal (ITAT) has held that the Hindi Sahitya Sammelan is eligible for Income tax exemption under section10 (23C) (vi) the Income Tax Act. The...

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