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Industrial Undertaking Eligible For Deduction U/s 80IB On Compensation For Destruction Of Goods Before Sale Took Place: Mumbai ITAT

On finding profits and gains derived from an industrial undertaking within the meaning of an expression under section 80-IB, the Mumbai ITAT directed the Assessing Officer to allow deduction u/s 80-IB.

Madhur agrawalSportking india ltdDelhi high courtAssessing officerIncome tax actKavitha rajagopalJudicial memberPrashant maharishiAccountant memberMumbai itatEduction section 80 ibIndustrial undertaking

Illegal connections at shelters choke sewer lines in India s Manchester : The Tribune India

The ‘Manchester of India’ entirely depends on the migrant population to run the industry. Though the Ludhiana Municipal Corporation and the Labour Department have 4.3 lakh registered migrants in their records, the actual number is more than 10 lakh.

Shena aggarwalShivani bhakooChandar nagarLabour departmentLudhiana municipal corporationFocal pointIndustrial undertaking

Federal Board of Revenue (FBR) expands scope of definition of Information Technology, IT-enabled services -

ISLAMABAD: The Federal Board of Revenue (FBR) has expanded the scope of the definition of IT and IT-enabled services, raised the advance tax rate from two to four percent for commercial importers and reduced the turnover tax for Oil Marketing Companies (OMCs) from 0.75 percent to 0.5 percent through amendment in the Finance Bill, 2022.

Aashfaq tolaPakistan press foundationIt servicesServices clausesOil marketing companies omcsFederal boardOil marketing companiesFinance billHuman resourceIndustrial undertakingArmed forces

Definition of IT and IT-Enabled Services Changed in Amended Finance Bill

Definition of IT and IT-Enabled Services Changed in Amended Finance Bill
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It servicesServices clausesOil marketing companies omcsFederal boardOil marketing companiesFinance billIndustrial undertakingArmed forces

LTO questions legality of tax concessions by IR commissioners

LTO questions legality of tax concessions by IR commissioners Business April 22, 2021 KARACHI: Large Taxpayers Office (LTO) Karachi, the key revenue arm of the Federal Board of Revenue (FBR) questioned the legality of action of commissioners Inland Revenue to issue reduced-rate certificates for import of plant and machinery, sources said on Wednesday. “Only FBR has powers under Section 148 of the Income Tax Ordinance, 2001 to reclassify goods under Part III of Twelfth Schedule. In this condition, is the power of commissioner Inland Revenue to issue reduced rate certificate under SRO 715(I)/2020 dated August 12, 2020 legally valid,” LTO Karachi said in a letter to the FBR headquarters.

Large taxpayers officeFederal boardInland revenueIncome tax ordinanceIncome tax rulesTwelfth scheduleFinance actIndustrial undertakingSecond scheduleபெரியது வரி செலுத்துவோர் அலுவலகம்கூட்டாட்சியின் பலகைஉள்நாட்டு வருவாய்வருமானம் வரி ஆர்டிநந்ஸ்வருமானம் வரி விதிகள்பன்னிரண்டாவது அட்டவணைநிதி நாடகம்