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FM does away with multi-level TDS on packaged software
The finance ministry on Wednesday provided relief to the Rs 18,000-crore software industry by replacing a multi-level structure of tax deducted at source (TDS) on distributors with a single TDS. This would be deducted by the first distributor — one who directly purchases packaged software from a developer. The move, announced by Finance Minister Pranab Mukherjee, would help small-level distributors,

Have foreign assets? Get ready to detail these

The Central Board of Direct Taxes (CBDT) has issued new income tax return forms for those holding assets outside India, (Forms ITR-2, 3 and 4). The detailing requirements have been made more

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Realty players upbeat over removal of 1% TDS

Finance Minister Pranab Mukherjee’s move to withdraw one per cent tax deducted at source (TDS) on transfer of immovable property has brought relief to the real estate industry. The industry

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Government rolls back TDS on property sales

The government Monday rolled back the proposed one percent tax deduction at source (TDS) on transfer of immovable property. Initiating the debate on the Finance Bill for 2012-13 in the Lok Sabha,

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I-T dept collects Rs 550 cr tax under international taxation

The Directorate of International Taxation of the Income Tax Department has recorded collection of Rs 550 crore as tax payments from foreign shipping companies doing business at Gujarat ports. This

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Concerns prevail at Titan Ind despite better performance

After disappointing in the December 2011 quarter, Titan Industries reported better-than-expected financial performance in the March quarter, helped by higher gold realisations and better control

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Jewellers call off strike
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