News

Tax Guru2d
Profit estimation by AO cannot be arbitrary or without any basis
ITAT Hyderabad held that profit estimation cannot be arbitrary or without any basis. Accordingly, estimation of profit @6% on total contract receipts is reduced to 4%. Accordingly, appeal of the ...
The New York Times7y
WASHINGTON.; A DEMOCRATIC BUGBEAR. THE ESTIMATED AND THE ACTUAL RECEIPTS AS A BASIS FOR "CROAKING"--WHAT THE RECEIPTS AND EXPENDITURES SHOW.
Special Dispatch to the New-York Times. TimesMachine is an exclusive benefit for home delivery and digital subscribers. Full text is unavailable for this digitized archive article. Subscribers may ...
KOAT Albuquerque11d
Proposed tax hike could raise costs for Albuquerque residents
GROSS RECEIPTS TAX HIKE IS MAKING ITS WAY THROUGH CITY COUNCIL AND COULD LAND ON THIS NOVEMBER’S BALLOT. A TARGET SEVEN INVESTIGATION LOOKS INTO WHO COULD BE AFFECTED MOST AND BY HOW MUCH.
NBC 7 San Diego1mon
San Diego increases retail cannabis tax rates from 8 to 10%
The move will go into effect on May 1 and generate an estimated $3.97 million for the city if gross receipts remain the same. That is not a sure thing, however, as people buying products could ...
The Victoria Advocate16d
Nevada should replace its gross receipts tax with something better but it won’t
The measure, which was enacted with bipartisan support, applies small levies well south of 1% (between 0.051% and 0.331%, depending on the industry) on the gross receipts of businesses that ...