Taxation

The Central Board of Director Taxes (CBDT) has said that the diary pages and the loose papers given to the team that raided D.K. Shivakumar's premises in 2017 were "not original" . Shivakumar told the investigators that this was a copy of a diary, written by B.S. Yeddyurappa, and the payments...
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In a big relief to builders, the GST Council on Tuesday approved transition rules on new tax rates for residential property and offered an option to builders with under-construction buildings to shift to the new rates without input tax credit (ITC) or continue with the old rates with...
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The GST Council will not announce any "beneficial decisions" like rate cuts or extensions of time period for any schemes or compliance to GST rules at its meeting scheduled on March 19.   Sources said that the Council does not want that its decisions are seen as clashing with the...
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The abolition of Gift Tax Act in the year 1998 paved the way for one of the most dynamic sections of the Income Tax Act, 1961, namely, Section 56(2). Under this Section, all kinds of incomes and gains, which were from sources other than the sources mentioned in the Act at that time, were...
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India's move to reduce the goods and services tax (GST) on under-construction properties and expand the scope of the affordable-housing category, which offers homebuyers interest-rate subsidies, will improve affordability and support demand, says Fitch Ratings.    GST on...
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