Monthly archive

February 2009

Tax benefit brings Gujarat back in favour with drug cos

February 5, 2009
Gujarat, the traditional centre of gravity of the pharma business in India that had lost out to states such as Himachal Pradesh, Goa, and Uttarakhand in the past few years, is regaining lost ground on the strength of tax cuts announced in last year’s budget. Pharma firms, including around 100

No need for proof to claim LTA, conveyance: SC

February 4, 2009
EMPLOYERS, while assessing the conveyance, and leave and travel allowance (LTA) claims of their staff, are under no statutory obligation to collect supporting evidence and furnish them to the tax authorities, the Supreme Court said on Wednesday. A bench comprising Justice SH Kapadia and Justice Aftab Alam said assessee employers