In a verdict that would aid infrastructure companies in claiming depreciation allowance, an Income-Tax Appellate Tribunal (ITAT) has held that a company is entitled to depreciation claims if it genuinely owned and operated the property.
This is a story of another Pillai, another biscuit company and another foreign stakeholder.
The time taken to resolve tax disputes will soon be drastically reduced thanks to an ordinance promulgated by the government last week amending the National Tax Tribunal Act.
Overseas pension funds, particularly those based in the US, now face a tax demand in India.
Whyte & Mackay is the seventh-largest Scotch maker in Scotland with a turnover of $283 million.
The Central Bureau of Investigation (CBI), probing the over Rs 1,000-crore Global Trust Bank (GTB) scam, has named the bank’s former chairman Ramesh Gelli as the prime accused in its chargesheet filed before a CBI court in Mumbai on Friday.
The UB group, a leader in India’s spirit and beer market, has set up its first wine company in Maharashtra signalling hectic activity in the Rs 90-crore Indian wine industry which till now was cluttered with small and mid-sized players only.
There’s good news for stock investors. ITAT has ruled that gains from stock transactions will now be classified as capital gains and be charged at 10%.
The money made by exiting a stock within a year of purchase will be treated as 'capital gains'.
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