Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: VAT Audit :: ACCOUNTING STANDARDS :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: form 3cd :: empanelment :: cpt :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: due date for vat payment :: articles on VAT and GST in India :: TDS
 
 
« News Headlines »
 A tax saver scheme with higher returns
 GST registration mandatory for TDS entities
 Govt rules out extension for filing GSTR-3B returns after December
 Tax department’s e-filing portal out of action for 2 hours
 Use ITR-2 to show salary and capital gains income
  TDS Applicability On Government Contracts Under Gst (Under Section 51 Of The Cgst Act, 2017)
  How to file ITR for FY 2016-17 and all the links you need
 All about E-way Bill under GST
 Good and simple tax: on the GST regime
 Seeks to extend the time limit for filing of GSTR-1, GSTR-2 and GSTR-3
 Good news, find Tax Return Preparers soon at a place near you; 5 things to know

End the sport of abusing tax exemption
May, 18th 2007
At the height of her career over a decade ago, Steffi Graf, an all-time great among tennis players, faced charges of tax evasion from German tax authorities.

The story ended with Steffis dad Peter spending time in jail after she said that her father had been the financial manager, handling all the earnings of the tennis star. The charges against Steffi were dropped only after she agreed to pay a fine of a million dollars or so to the government, besides a contribution to charity. Another famous tennis star, Boris Becker, also was fined by the German tax department after he was also convicted of charges of tax evasion.

Elsewhere, cases abound of celebrities such as movie and baseball stars, besides singers, who have run foul of the tax hounds. The script has been the same in all such instancesthe tax authorities have had the last word, emerging like the Indland Revenue Service as ruthless enforcers of the law irrespective of the status of the violator.

Expectations of such an even handed treatment to those who violate any law in India are fairly low. Therefore, the excitement generated for a day by the media on an adverse remark by the office of the Comptroller and Auditor General on the tax exemption granted to Sachin Tendulkar and Sunil Gavaskar, among others, may have been overdone.

The reference is to the tax waiver that Tendulkar was granted in 88-89 on foreign currency remittances received by him for sporting endorsements. A tax deduction was allowed on the grounds that he was an artiste. CAG, however, did not concur with the tax officer's interpretation. It said that the deduction was not in order since sporting endorsements and other activities are not eligible for tax breaks (under Section 80 RR of the Income Tax Act).

Many years ago, when the government first granted this tax break to sportspersons, artistes, playwrights, musicians and authors, it was done without any distinction on their income levels. So this tax break could be claimed by any sportsperson or artiste irrespective of their economic status.

To get the tax break, the beneficiaries had to provide a certificate, along with their income tax return. The certificate was meant to prove to tax officers that the deduction had been claimed according to the norms laid down under the relevant provision of the Income Tax Act.
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
SEO Company Search Engine Optimization Company US SEO Local SEO Company Website SEO Company Alabama SEO Company Alaska SEO Company Arizona SEO Company Arkansas SEO Company California SEO Company Colorado SEO Company Connecticut SEO Company Delawa

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions