Share Appreciation Rights (SAR), an innovative compensation package offered by many MNCs to their senior employees, will be taxed.
All eyes are on the Indian wine market which is now on the threshold of its first major milestone, crossing the one million cases mark in 2008.
Just when Vijay Mallya-led UB group announced its plans to export Indian wines to France, the UK and New Zealand, a first timer in the business of Indian wines too has revealed plans to export wines made in Maharashtra to overseas markets.
UB Group is also planning to export to the UK, a whisky drinking non-wine making country among other international markets. Enjoy the wine, but invest in it too
Galileo International, a computer reservation service (CRS) company specialising in electronic booking of air tickets, has been exempted from paying tax, thanks to an Income Tax Appellate Tribunal (ITAT), Delhi bench’s order.
Good news for salaried taxpayers, in case your employer picks up your tax liability, this perquisite of tax-free salary will not be taxed again. Globetrotters under tax net
Initial advance tax numbers offer a pretty good picture as far as collection by the IT department goes.
The income tax department, which is in the middle of a legal showdown over the taxability of the recently-concluded $11-billion Vodafone-Hutchison Telecom International (HTIL) deal, is gearing up to use Vodafone’s statements to support the department’s claim for a $2-billion capital gains tax.
It will hinge on the elimination of a host of exemptions which Indian companies now enjoy. Cut tax bill by working as a consultant
Corporate tax rate now works out to 33.66%, after factoring in a surcharge of 10% and the education cess of 2% on top of the statutory rate.
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