UPDATES FROM TAX GURU 01.07.2009

UPDATES FROM TAX GURU Clarification regarding deduction under section 80-IB(10) in respect of undertakings developing building and housing projects Government may disallow the depreciation allowance that charitable organisations claim New TDS Rules related to mentioning of Unique Transaction Number(UTN) in ITR kept in abeyance Clarification regarding deduction under section 80-IB(10) in respect of undertakings developing building and housing projects Posted: 30 Jun 2009 09:00 PM PDT Instruction No. 4/2009, dated 30-6-2009 Under sub-section (10) of section 80-IB an undertaking developing and building housing projects is allowed a deduction of 100% of its profits derived from... Government may disallow the depreciation allowance that charitable organisations claim Posted: 30 Jun 2009 09:24 AM PDT The government is considering a proposal to disallow the depreciation allowance that charitable organisations claim, following a recommendation by the income-tax department. Officials close to the... New TDS Rules related to mentioning of Unique Transaction Number(UTN) in ITR kept in abeyance Posted: 30 Jun 2009 06:39 AM PDT The CBDT has finally come out with a much awaited Press Release relating to the new TDS rules. All of us were anxiously waiting for some news about the Unique Transaction Numbers that are required...

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