Shipping charges using non-resident shipping are not liable to TDS u/s 172(8) as supplemented by CBDT Circular No. 723/1995
ITAT Amritsar, in a recent judgment has held that shipping charges (Inland haulage charges, Terminal...
Keyman Insurance Policy (KIP) Premium is an allowable business expenditure
In a recent judgment, ITAT Amritsar has endorsed that Premium of Keyman Insurance Policy (KIP) ...
New Interest Rate of PPF, NSC, KVP, SCSS, SSA and Post Office Deposits
The interest rate cut of small saving schemes (PPF, NSC, SCSS, SSA, KVP etc) is sharp. This interest...
Exemption u/s 10(22A) 10(23C)(iiiac)-Nexus between activities of hospital/institution and the income is essential for claim
In a recent judgment, Calcutta High Court has held that to claim exemption under section 10(22A),&nb...
Expenditure incurred for software development are capital expenditure
Calcutta High Court in a recent judgment has held that expenditure incurred for software develo...
Inclusion of Interest Income in the Return of Income filed by Persons liable to Pay Tax
Press Information Bureau Government of India Ministry of Finance 23-March-2016 17:29 IST Inclusion o...
Reminder from tax department to pay tax on interest income, revise returns if required
In last year’s tax returns a disclosure in tax returns was added for bank accounts held by a tax p...
Section 194I: TDS on Rent | Rates |Limit
Section 194I deals with TDS on rent paid. Whenever a person is liable to pay an amount exceeding the...
CBDT asks assessees to file/revise return by including correct interest income for AY 2014-15 and 2015-16
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RE...
Why middle class people always remain under pressure?
In a world, we find three types of people rich, poor and middle class. Out of these three middle-cla...