Governmet to Exempt services provided inside SEZs from Tax
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The government is likely to exempt the services provided inside the Special Economic Zones from service tax, a move for which it is expected to seek approval from the Election Commission. Hitherto,... Read more
Cash withdrawals from bank will not attract tax
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Cash withdrawals from bank will not attract tax from Wednesday. This is following abolition of the banking cash transaction tax (BCTT) in the Union Budget 2008-09. The BCTT was introduced in Budget... Read more
Companies will have to restate their financial statements if auditors raise objections
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The era of qualified company accounts is about to close. Companies will have to restate their financial statements if auditors raise objections to any figure in annual accounts, if the government accepts... Read more
Sensex boosted by Metal, Realty, Oil & Gas Industries
The key benchmark indices were trading higher in afternoon deals led by gains in metal, realty, oil & gas and IT stocks. Volatility ruled the roost on the bourses with the Sensex recovering soon after... Read more
Government Lowered Service Tax Rates by 2% and Cuts Excise Duty to 8%
MARKET UPDATES · Tags: Cuts Excise Duty to 8%, factory gate duties, Lowered Service Tax Rates by 2%, New Excise Duty rates and service tax rates, New Excise rates and service tax rates
The Congress-led UPA government on Tuesday cut factory gate duties further and lowered service tax rates by 2% lowered service tax rates as it moved to protect the economy from the impact of the global... Read more
Comments on Interim Budget
Changes in tax structure expected after forthcoming National and state Elections. Government will review tax exemptions before March 31,2009. Bookmark It Read More →
Prosecutions will be filed on the Violated companies
The Central Government has Identifid 121 vanishing companies and prosecutions have been filed in 110 cases for violation of various provisions of the Companies Act,1956. Bookmark It Read More →
Budget Highlights
MARKET UPDATES · Tags: Asset management service, budget 2009 highlights, Budget Highlights, Centvat, Commodities Transaction Tax, Commonwealth Games, Customs duty, Direct tax proposals, Excise duty, Fringe Benefit Tax, GDP ratio, Indirect tax proposals, Jawaharlal Nehru Urban Renewal Mission, Kasturba Gandhi Vidyalaya, Loan waiver scheme, National Agriculture Insurance Scheme, National AIDS Programme, National Fund for Transmission and Distribution Reforms, National Horticulture Mission, National Plant Protection Training Institute, New tax slabs, NREGA scheme, Rajiv Gandhi Drinking Water Mission, rate of surcharge in india, Sarva Shiksha Abhiyan, Securities Transaction Tax, SIDBI
Budget Highlights Direct tax proposals to be revenue neutral. Indirect tax proposals to result in loss of Rs 5,000 crore. Banking cash transaction tax withdrawn from April 1, 2009. Commodities Transaction... Read more
Finance Bill,2009
MARKET UPDATES · Tags: 2009, Add new tag, advance tax, assessment year 09-10, Assessment year 2009-10, being a woman resident in India, Central Government, co-operative society, company, corporate tax, finanace bill 2009, finance act 2009, financial year 2008-09, firm, income tax rates, income tax rates for the year 2009-10, individual, local authority, Rates of income-ta x, section 111A or section 112, Surcharge on income-tax, tax deduction at source, tds, THE FINANCE BILL
AS INTRODUCED IN LOK SABHA ON 16TH FEBRUARY, 2009 Bill No. 6 of 2009 THE FINANCE BILL, 2009 A BILL to continue the existing rates of income-tax for the financial year 2009-10. B e it enacted by Parliament... Read more
BHEL, NHPC in joint bid to bring Myanmar project back on track
MARKET UPDATES · Tags: Bharat Heavy Electricals Ltd (Bhel), National Hydroelectric Power Corp. Ltd (NHPC), natural gas, PricewaterhouseCoopers, Tamanti hydropower project, Tamanti hydropower project in Myanmar, transmission links
State-owned Bharat Heavy Electricals Ltd (Bhel) and National Hydroelectric Power Corp. Ltd (NHPC) may together build the 2,400MW Tamanti hydropower project in Myanmar, setting the delayed Rs. 14,000 crore... Read more