CBDT Directive Reg Phasing Out Plan For Deductions Under Income-tax Act
The CBDT has issued a press release dated 20.11.2015 stating that the Finance Minister in his Budget Speech, 2015 has indicated that the rate of corporate tax will be reduced from 30% to 25% over the next four years along with corresponding phasing out of exemptions and deductions. This is a step towards simplification of tax laws, which is expected to bring about transparency and clarity. The CBDT has identified the precise provisions that will be affected as a result of the phasing out plan. The CBDT has invited comments on the aforesaid phasing out plan within 15 days
How To Become A Successful Tax Professional
Shri. N. M. Ranka, Senior Advocate, has enumerated in a succinct manner the qualities that professionals need to develop in order to be successful in the practice of taxation lawTDS As Per Section 194-I Where Use Of The Land Was Only Minor And Insignificant, Incidental One: Whether Applicable?
Shri. Akhilesh Kumar Sah, Advocate, has examined the controversial issue as to whether payments for use of services involving use of land and building can be characterized as "rent" so as to warrant deduction of TDS under section 194-I of the Act. He has analyzed all the latest and important verdicts on the issue
NOTHING IS CERTAIN – EXCEPT DEATH AND TAXES!
CA Vinay Kawdia has explained in a comprehensive manner the entire law relating to the implications arising out of the death of an income-tax assessee with reference to the pending and impending assessment, recovery, penalty, prosecution and appeal proceedings. All important judgements relevant to the issue have been referred to
Regards,
Editor,
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Latest:State Bank of Patiala vs. CIT (Supreme Court)
S. 2(7) Interest-tax Act: Right to charge overdue interest on discounted Bills of Exchange is not "interest" as it does not arise on account of delay in repayment of any loan or advance. The right arises on account of default in the payment of amounts due under a discounted bill of exchange
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