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: cpt :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: TDS :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: VAT Audit :: empanelment :: ACCOUNTING STANDARDS :: list of goods taxed at 4% :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: form 3cd
 
 
« General »
 Fall in tax collection compounds crisis
 Govt sets up task force to review income tax laws
 Tax queries: Contact employer to get Form 16 error rectified
 Finance Ministry may hike monetary limit for filing tax appeals
 Compilation of all notifications issued ON
 Banking transaction tax to have cascading effect: NIPFP
 While filing tax in India, NRIs do not have to state overseas income
 Tax ease on cards, some daily use items may become cheaper
 It’s one year of GSTN, too
 SBI home, auto loan interest rates cut, set to be effective from Nov 1
 MNCs will have to furnish extra disclosures from March 2018

ITAT upholds NDTV's tax plea
August, 24th 2016

New Delhi Television (NDTV) has got partial relief from Income Tax Appellate Tribunal (ITAT) in a case related to payment of income tax. The ITAT has disallowed a tax claim by the Income Tax department in excess of Rs 22 crore from the Delhi-based media company for the assessment years 2007-08 and 2008-09.

Earlier, the firm got tax relief under the same case from ITAT for AY2006-07. The I-T department had disallowed expenditure aggregating in excess of Rs 50 crore incurred by the media company during AY2006-07 and AY2010-11.

While, the I-T department added Rs 22.09 crore on NDTV's tax bill for the two assessment years. ITAT has asked the firm to pay Rs 12,00,000. It has "also asked the tax officer to allow additional allowance of employee stock ownership plan (ESOP) expenses. According to the claim of ESOP expenses now allowed to NDTV is Rs 43.53 crore as against original claim of Rs 21 crore. This will mean NDTV will pay even lower tax than earlier", the company informed the Bombay Stock Exchange.

After the recent order by ITAT, I-T department's additional tax claims has been disallowed for three consecutive years - AY 2006-07 to 2008-09. While, for the AY 2006-07 was struck down by the ITAT earlier, the I-T department had approached the Delhi high court against the order. The Delhi HC dismissed the appeal in July, 2016. Tax claims related to the next two assessment years are still under ITAT's purview.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Bath SEO Company Birmingham SEO Company Bradford SEO Company Brighton and Hove SEO Company Bristol SEO Company Cambridge SEO Company Canterbury SEO Company Carlisle SEO Company Chester SEO Company Chichester SEO Company Coventry SEO Compan

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