a few months' time the taxman will coming knocking on your door. However, he cannot tax you on the following 14 important items of income and receipts, as they are fully exempt from income tax and which a resident individual Indian assessee can use with profit for the purpose of tax planning.Under the provisions of Section 10(1) of the Income Tax Act, agricultural income is fully exempt from income...
|
Supreme Court has decided to examine the issue of whether foreign law firms charging professional fees from Indian companies and businessmen are liable to pay income tax in the country.A bench headed by Justice S H Kapadia has issued notices to a London-based law firm on a petiition filed by the Income Tax Department.The law firm in turn claims that it is not liable to pay any income tax in India as...
|
Income Tax Department has issuednotices to seven persons including three Madhya Pradeshministers and asked them to file their Income Tax returnsregularly.The Income Tax officials issued the notices to them asthey were not furnishing their tax returns despite severalreminders sent to them, official sources said here today.The ministers against whom the notices were issued areRural Development Minister...
|
The Income Tax Department has issued notices to seven persons including three Madhya Pradesh ministers and asked them to file their Income Tax returns regularly. The other four are former ministers. The Income Tax officials issued the notices to them as they were not furnishing their tax returns despite several reminders sent to them, official sources said here today. The ministers against whom the...
|
NAMAKKAL: The Income Tax Department has relocated its office to new premises in Namakkal town on Friday.Chief Commissioner of Income Tax, Tiruchirappalli, Prema Malini Vasan declared open the office in LMR Shopping Arcade.The office was equipped with modern facilities to assist the taxpayers in e-filing their tax returns and e-payment of taxes.The new facilities are expected to enhance the taxpayer...
|
income tax (IT) department has issued notices to seven persons comprising three present and four former ministers and asked them to file their income tax returns regularly.The income tax officials issued the notices to them as they were not furnishing their returns despite several reminders sent to them, official sources said here today.The sitting ministers, against whom the notices were issued, are...
|
investors are looking for safer investments that generate income, most think about bonds. There are many types of bonds, from corporate, government, and municipal bonds. These types of investments are different from stocks as they try to generate regular income as opposed to increase in value due to capital gains. But one class of bonds are unique in that they are generally exempt from federal, and...
|
KUMBAKONAM: The Income Tax collection target for the year 2009-10 was Rs.3.70 lakh crore for the entire country, said S.S. Palani Manickam, Union Minister of State for Finance, at Kumbakonam on Friday.Laying the foundation stone for a new annexe building at Ayakar Bhavan in Kumbakonam, the Minister said that against this target, till October, collection was Rs. 1.73 lakh crore.Indirect tax loss is...
|
