ITAT Mumbai held that that reimbursement of expenses at cost is not taxable as fees for technical services since there is no element of income attached to the transaction. Accordingly, revenue’s ...

Under Section 80M of the present income tax law, Indian companies are allowed to deduct dividends received from domestic or foreign companies, as well as business trusts, when these dividends are ...

ITAT Mumbai ruled on the appeal of Rotary Charity Trust against the rejection of its application for final registration under Section 80G (5) of the Income-tax Act, 1961. The trust, established in ...

The new bill aims to simplify tax provisions with clearer language, reducing its length and eliminating redundant sections ...

Earlier, the penalty was anywhere between Rs 10,000 and Rs 1 lakh,” said income tax matters expert and CA Manish Dafria on ...