M Padmakshan

  • 'I-T raid over tax-evasion doubt justified'

    'I-T raid over tax-evasion doubt justified'

    The income-tax department has the right to carry out a raid and attach property, if it has reason to suspect that income is likely to escape tax net in absence of prompt action,

    Govt may do away with FBT in budget

    Govt may do away with FBT in budget

    Government is considering a proposal to do away with FBT — the tax on all benefits and perks that companies provide to their employees introduced in the 2005-06 Finance Bill — in the coming Union budget.

    Mumbai tax mop-up paints rosy picture

    Mumbai tax mop-up paints rosy picture

    In an indication that first-quarter direct tax collections could beat expections, tax deducted at source (TDS) collections in Mumbai were up 47% for the period April 1 to May 11 compared with the year-ago period, according to data with the income tax department.

    PIL against govt, I-T dept, Slocum over tax evasion

    PIL against govt, I-T dept, Slocum over tax evasion

    A public interest litigation (PIL) has been filed before Allahabad High Court against the government, income-tax department and Delhi-based Shiv Nadar group company Slocum Investment, alleging tax evasion.

    HC seeks I-T dept’s reply on notice to SABMiller

    HC seeks I-T dept’s reply on notice to SABMiller

    In a move similar to the Vodafone case, the Bombay High Court has asked the I-T department to file a reply on a notice it issued to SABMiller UK pertaining to the latter’s $120-million acquisition of Foster’s India from its Australian parent in 2006.

    No tax polish for diamond cuts abroad

    No tax polish for diamond cuts abroad

    In an order that will have a bearing on hundreds of diamond cutting and polishing firms in the country, the Income-Tax Appellate Tribunal (ITAT) has held that tax is not payable in India for commissions paid abroad at the time of acquiring rough diamonds.

  • No blogs yet have been written by the author, we’re sure the author will contribute one soon

Other useful Links


Follow us on


Download et app


Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service