The deduction for inter-corporate dividends for companies choosing the 22% tax rate, as authorized by the Income Tax Act of 1961, has been removed in the Income Tax Bill 2025. Under Section 80M of the present income tax law, Indian companies are allowed to deduct dividends received from domestic or foreign companies, as well as … Read more
Although Union Finance Minister Nirmala Sitharaman will be presenting the Interim Budget ahead of the scheduled Lok Sabha elections in May, startups and experts feel that the government should offer clarity on ESOP taxation to benefit start-up employees. ESOPs (Employee Stock Ownership Plans) are employee incentives that companies use to attract, reward, and retain talent. … Read more
New Delhi: The government is mulling some relief on the levy of goods and services tax (GST) on vouchers or gift cards offered by companies and retailers, addressing the issue of double taxation in some instances. A host of retailers offer vouchers or gift cards to customers that can be redeemed for their products. A … Read more
Gaurav Baid, the 27-year old NRI chartered accountant, whose writ petition before the Supreme Court triggered a reaction from India’s direct tax authority, will once again knock at the court’s door. Baid, who works in Dubai, would either move a fresh petition or file an application challenging the recent communiqué from the Central Board of … Read more
The United Arab Emirates and Israel have reached a preliminary agreement on avoiding double taxation, as part of moves to encourage investments between the two countries, the UAE finance ministry said on Thursday. Israel and the UAE signed a normalisation deal on Sept. 15, forging formal diplomatic ties. Israel ratified the deal in a cabinet … Read more