Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
« General »
Open DEMAT Account in 24 hrs
 How to calculate income tax on stock market gains along with your salary?
 Moonlighting for Additional Income? Know Its Tax Implications
 Have you claimed education cess? Be prepared to pay tax as per the new rules
 Reserve Bank - Integrated Ombudsman Scheme, 2021 (RBIOS, 2021)
 How is tax computed for selling a house?
 How much tax do you pay on equity investments?
 Fuel taxes: Centre s gains striking since FY16
 Tax rules for NRIs on sale of assets located in India
 ITR filing: Know tax rules that apply to freelancers in India
 Delhi Real Estate News: NDMC extends last date for property tax payment with amnesty scheme
 Citizens must file THESE ITR related forms before due date Income Tax Returns

Taxing business behind the stage
April, 20th 2011

Top bureaucrats in the country lobbied hard for tax relief to Mahindra Satyam Computer Services Ltd (MSCSL) before the case eventually reached the courts.

A senior finance ministry official told Business Standard, on the condition of anonymity, that the top echelons of the government tried to convince the Central Board of Direct Taxes (CBDT) for a sympathetic consideration of the companys plea in the case pertaining to the income of the erstwhile Satyam Computer Services Ltd (SCSL) from abroad.

The official added that the issue was re-considered at the full board meeting in February and the companys plea for tax relief was subsequently rejected. A tax demand of Rs 616 crore was raised on the company.

MSCSL ignored a question on whether the company had approached senior government officials for help in this case and said: We have approached the Supreme Court and they have granted a stay on the issue.

The finance ministry official said CBDT was not averse to taking a sympathetic view of the issue, but it had maintained to the company that it was not possible under the Income Tax Act to re-open this case, as the matter was already settled and relief, if any, could come only from the Supreme Court.

For more story click below

Source: http://www.business-standard.com/taketwo/news/taxing-business-behindstage/432860/

Home | About Us | Terms and Conditions | Contact Us
Copyright 2023 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting