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hoteliermaldives.com /3 weeks ago

Maldives moves to tax foreign booking platforms and tour operators

A bill seeking to impose Goods and Services Tax (GST) on goods and services provided to the Maldives by foreign tourism-related businesses has been submitted to the People’s Majlis...

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hoteliermaldives.com /4 weeks ago

Dhiraagu urges shareholders to update tax residency status

Dhiraagu has encouraged their shareholders to take a moment to review and update their tax residency status, helping ensure their dividends are processed correctly in accordance wi...

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hoteliermaldives.com /3 weeks ago

Extending TGST offshore: Three questions the proposed GST amendment has yet to answer

People’s Majlis is now considering a government-backed amendment to the Goods and Services Tax Act (Law No. 10/2011) that would, for the first time, require foreign tour operators,...

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hoteliermaldives.com /3 days ago

ABTA, ECTAA call on Maldives to pause GST rules for foreign tour operators

Two associations representing travel agents and tour operators in Europe have called on the Maldives to delay the implementation of new Goods and Services Tax (GST) requirements fo...

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thetaxtalk.com /1 month ago

CBDT Mandates Upload of Foreign Assets and Income Data in AIS and Form 26AS Under AEOI

CBDT Mandates Upload of Foreign Assets and Income Data in AIS and Form 26AS Under AEOI The Central Board of Direct Taxes has issued a key order to bring offshore financial data...

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greaterkashmir.com /3 weeks ago

Govt rolls out foreign asset disclosure scheme for small taxpayers

The Income Tax Department on Saturday notified a new voluntary disclosure scheme allowing small taxpayers to declare certain undisclosed foreign assets and income by paying an effe...

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blog.saginfotech.com /1 week ago

CBDT Notifies 116 & 117/2026, Granting Tax Exemptions to MERC from FY 2025-26

The Central Government, through the Central Board of Direct Taxes (CBDT), has issued two notifications regarding the Maharashtra Electricity Regulatory Commission (MERC), PAN: AAAG...

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omanobserver.om /1 month ago

Who will calculate Oman’s income tax — and from whose data?

The Tax Authority set the RO 42,000 exemption threshold after examining income data collected from several government entities. In its announcement of the Personal Income Tax Law o...

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hoteliermaldives.com /2 weeks ago

Contracts signed, brochures printed: This bill rewrites price

A bill before the Majlis would order the world’s travel sellers to collect 17% Maldivian tax from 1 October—in the middle of a selling season whose prices were fixed months ago. It...

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thetaxtalk.com /3 weeks ago

Is Surcharge Automatically Payable When Income Is Taxed at the Maximum Marginal Rate (MMR)? ITAT Mumbai Says No

Is Surcharge Automatically Payable When Income Is Taxed at the Maximum Marginal Rate (MMR)? ITAT Mumbai Says No Landmark Ruling Clarifies That Maximum Marginal Rate Does Not Auto...

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blog.saginfotech.com /6 days ago

IT Department Introduces Form 1 for Reporting Undisclosed Foreign Assets Under FAST-DS 2026

Taxpayers who wish to declare undisclosed foreign assets or foreign-sourced income under the Foreign Assets of Small Taxpayers Disclosure Scheme, 2026 (FAST-DS 2026) can file Form...

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thearabianstories.com /1 month ago

Oman Tax Authority clarifies income tax amendments do not apply to personal tax

MUSCAT: In a statement issued on Monday, the authority said Ministerial Decision No. 180/2026 amends provisions related to the Corporate Income Tax Law issued under Royal Decree No...

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businesstoday.in /1 month ago

Section 10(14)(i) under new tax regime: Wrong claims can trigger income tax notices, warns tax expert

While taxpayers under the new tax regime have limited opportunities to claim exemptions, Section 10(14)(i) remains available for specified allowances provided by employers to meet...

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thetaxtalk.com /1 month ago

No Tax, No Penalty: ITAT Mumbai Draws the Line on Section 270A Penalties for Charitable Trusts

No Tax, No Penalty: ITAT Mumbai Draws the Line on Section 270A Penalties for Charitable Trusts The introduction of Section 270A of the Income-tax Act marked a significant shift i...

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businesstoday.in /3 weeks ago

Foreign assets disclosure scheme: Who is eligible, what it means for small taxpayers & tax payable

The Foreign Assets of Small Taxpayers Disclosure Scheme (FAST-DS), 2026, is a one-time disclosure mechanism for eligible taxpayers who have either failed to report certain foreign...

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amlegals.com /1 week ago

Misclassified Tax Cannot Become A Lawful Levy: Limitation Cannot Validate An Unauthorised Tax Collection

Introduction The question of whether the Government can retain an amount collected as tax despite the absence of a lawful statutory liability has repeatedly arisen under the erstwh...

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thetaxtalk.com /2 weeks ago

Section 43CA Cannot Be Applied to Land Sale Agreed Before Its Introduction: ITAT Jaipur

Section 43CA Cannot Be Applied to Land Sale Agreed Before Its Introduction: ITAT Jaipur Where agreement to sell was executed before section 43CA came into force and substantial c...

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thetaxtalk.com /2 weeks ago

Section 54F Exemption Allowed on Property Purchased from Husband: ITAT Mumbai Says Genuine Tax Planning Is Not Tax Evasi...

Section 54F Exemption Allowed on Property Purchased from Husband: ITAT Mumbai Says Genuine Tax Planning Is Not Tax Evasion ₹6.91 crore exemption allowed where residential property...

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businesstoday.in /1 month ago

Declared Australian salary in Indian ITR by mistake? Delhi ITAT says it can't be taxed under DTAA

The Delhi Income Tax Appellate Tribunal (ITAT) has provided relief to a taxpayer who inadvertently declared his Australian salary in his Indian ITR. It held that the income falls o...

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thetaxtalk.com /4 weeks ago

When Tax Rules Surprise You – The Taxman Isn’t Always Asking for More!

When Tax Rules Surprise You – The Taxman Isn’t Always Asking for More! Query 1] My income during the year from salary was ₹11,72,190/-, Interest & Other Income was of ₹55,247/-...

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thetaxtalk.com /1 month ago

No Form 10B? ITAT Delhi Clarifies: Charitable Trust Cannot Be Taxed on Gross Receipts Alone

No Form 10B? ITAT Delhi Clarifies: Charitable Trust Cannot Be Taxed on Gross Receipts Alone Non-Filing of Form 10B May Deny Exemption Under Sections 11 & 12, But It Does No...

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businesstoday.in /1 month ago

CBDT grants retrospective income tax exemption to BBNDA under Section 10(46)

The CBDT has granted the Baddi Barotiwala Nalagarh Development Authority (BBNDA) a retrospective income tax exemption under Section 10(46) of the Income-tax Act, 1961. The exemptio...

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realty.economictimes.indiatimes.com /5 days ago

No tax on value of new property under redevelopment agreement: ITAT

A tax tribunal has sided with property owners involved in redevelopment disagreements, annulling a significant Rs 1.3 crore tax increment on a newly developed property. The tribuna...

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thehindu.com /1 month ago

Centre brings amnesty scheme for PF Trusts to regularise their status

Recognition under the Income Tax Act, 2025 shall be available only to provident funds that have obtained exemption under Section 17 of the 1952 Act

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