Income Computation and Disclosure Standards (ICDS)–Suggestions Invited

Income Tax

Stake Holders and General Public requested to bring-out Issues/Points by 15th December, 2015 which in their opinion require further Clarification/Guidance for proper Implementation of the Provisions of the Income Computation and Disclosure Standards (ICDS)             Sub-section (1) of Section 145 of the Income-tax Act, 1961 provides that the income chargeable under the head “Profits and…

Government decides to provide further Indirect Tax Incentives to Domestic Shipbuilding Industry

Misc. Items

The Government has decided to provide further indirect tax incentives for domestic shipbuilding industry. Accordingly, the Central Government has issued Notification Nos. 44/2015-Central Excise, 45/2015-Central Excise, 54/2015-Customs and 55/2015-Customs all dated 24.11.2015 so as to provide the following indirect tax incentives to the aforesaid industry: 1) Exemption from customs and central excise duties on all…