Monday, 30 September 2013

CBDT Order Extending Due Date For Filing ROI For Assessees In Gujarat

 
The CBDT has issued an order dated 30.09.2013 u/s 119 of the Act stating that in view of the reports of dislocation of general life caused due to recent heavy rains and floods in the State of Gujarat, the ‘due-date’ for filing Returns of Income in the cases of Income-tax assessees in the State of Gujarat who are liable to file their Income tax returns by 30th September, 2013 is extended to 14th October, 2013.

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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...