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The Delhi High Court has asked the income tax department to grant income tax exemption to the New Okhla Industrial Development Authority under Section 10(46) of the Income Tax Act, 1961.
Read more at: The Economic Times
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India is reviewing the ‘faceless’ income tax (I-T) assessment mechanism to make it more taxpayer-friendly, following suggestions that the programme can be made more effective.
Post Views: 963 Responding to a bunch of writ petitions, for the financial years 2015-16 and 2016-17, the Delhi high court has recently held that the extended period of ten years, for re-opening of Income-tax (I-T) assessments should be applicable only in…
Net direct tax collection climbed 9.18 per cent to over Rs. 10.82 lakh crore till September 2017 in the current fiscal, driven by the higher advance tax payments from corporates and slower issuance of refunds, the government said.