Monday, 20 February 2012

Salaried Assessees With Income Upto Rs. 5 Lakhs Exempt From ROI For AY 2012-13


The Central Government has issued an important Notification dated 17.02.2012 exempting Individuals with salary not exceeding Rs. 5 lakhs from the obligation to file a Return of Income for AY 2012-13 subject to certain conditions.

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Delhi HC: No Deemed Gift Tax on Share Buy-Back at Discount

The Delhi High Court in the case of Globe Capital market has ruled that a company’s buy-back of its own shares cannot be taxed under Section...