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: list of goods taxed at 4% :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt :: VAT RATES :: ACCOUNTING STANDARDS :: TDS :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: empanelment :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT :: Central Excise rule to resale the machines to a new company :: form 3cd :: VAT Audit
 
 
« 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

Income Tax dept moves SC against Infosys
September, 11th 2007

The Income Tax department on Monday moved the Supreme Court challenging the Karnataka High Court order holding that IT major Infosys Technologies was not liable to deduct tax at source on employees stock option plan.

A bench of Justice S H Kapadia tagged the matter with another similar petition pending before it.

According to the department, the high court, which upheld the Income Tax Appellate Tribunal's order, was wrong in holding that Infosys was not liable to deduct TDS on the stock option plan extended to its employees.

It has sought the apex court's directions as to whether a stock option scheme, which had been exempted since 2000 onward can be treated as having exempted even in earlier assessment year of 1999-2000.

According to petition, stock option provided a benefit as the shares were allotted at a reduced rate to the employees. "It is nothing but a concession or benefit granted to an employee and would certainly amount to perquisite to an employee...", it added.

The ITAT had rejected the department's contention that Section 17(2)(iiia) of the Income Tax Act was classificatory in nature and not applicable to the assessment years.

It further held Infosys cannot be treated as a defaulter not deducting TDS under Section 192 of the Act in regard to issue of shares to its employees at a concessional rate as the same could not be treated as perquisite (salary).

Infosys had formulated Employees Stock Option Plan in 1999 under which shares were transferred to a trust which would in turn transfer shares to respective employees.

The company had challenged department's show cause notice proposing to treat it as defaulter for failing to deduct TDS in shares issued to its employees.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Outsourcing Company Offshore Software Outsourcing Software Outsourcing Company India Offshore Outsourcing Company India Software BPO Software Business Process Outsourcing Software Outsourcing India Offsho

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