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SC refuses to entertain plea by Vyapar Mandal against 45 days pay rule under income tax law

The apex court asked the MSMEs, which are a part of the Vyapar Mandal, to approach the high courts should they need any relief.

Timely payment to MSMEs rule to be enforced from April 1: Finmin officials

"Any change to it can now be brought in the next Union Budget in July. No change is feasible before that as it has to be approved by the Parliament."

CAIT seeks 1 year delay in implementation of new MSME payment rule

The trade body met Finance Minister Nirmala Sitharaman on February 14 to put forward its concerns

LIC IPO | Supreme Court refuses to interfere in the IPO process, rejects interim relief

The SC issued notice on petitions challenging passage of Finance Act 2021 as money bill and amendments made to LIC Act accordingly. The court referred the question of money bill to a larger bench.

Budget 2019| Tax boost needed to augment debt investments

The government and RBI should consider to completely exempt the interest payments on specified borrowings from withholding tax to attract more investments.

No TDS for PF withdrawals of up to Rs 50K from June 1

No tax would be deducted at source for PF withdrawals of up to Rs 50,000 from June 1.

Explanatory Notes To Finance Act, 2015

Govt amends rules to reduce Transfer Pricing disputes

The new regime will be applicable for computation of ALP of international transactions and specified domestic transactions undertaken on or after April 1, 2014, a notification said.

Govt mulls hike in service tax rate in upcoming Budget

The government is keen on a gradual hike of service tax to cushion customers. A two percent service tax rate hike could yield over Rs 30,000 crore to the cash-starved government. A service tax rate change will need amendment in the Finance Act.

All about TDS on transfer on immovable property

Tax and investment consultant Subhash Lakhotia gives a detailed explanation on the new section in the Income Tax Act of 1961- TDS on transfer of immovable property.

Budget Analysis: 3% SUV tax is fair amount of burden, says M&M CFO

For tax consultants, tax experts and tax officers in various corporates, the Budget is not done and dusted yet.

FM Lays Down Roadmap For GAAR

The Finance Act 2012 introduced the General Anti Avoidance Rules (GAAR) in the Income-tax Act, 1961 (IT Act). Thereafter, the Prime Minister set up an Expert Committee (EC) under the Chairmanship of Dr Parthasarathi Shome.

Unlisted Equity: Valuation Rules Changed

The Finance Act, 2012 inserted a new provision in the Income-tax Act which provides for taxability of money (in excess of the fair value of shares) received by a closely held company on issue of its shares to a person other than non residents.

Vodafone wins, but battle far from over, say experts

Once bitten, twice the shy, they say. But the government decided to give itself another go at Vodafone after the Supreme Court ruled in favour of the company in January in the Rs 11000 crore tax case. And again, the government has been restrained as the SC dismissed the review plea. CNBC-TV18 talks to tax experts for their first reaction.