Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: VAT Audit :: form 3cd :: empanelment :: cpt :: ACCOUNTING STANDARDS :: ACCOUNTING STANDARD :: TDS :: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: VAT RATES :: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
 
 
News Headlines »
 Income tax returns (ITR) filing guide: 10 excellent tax-saving options other than Section 80C to save money
 TDS Rate Chart for AY 2018-19
 Last date to submit third installment of advance tax is December 15
 5 tax-saving funds that have given stellar returns in the past 5 years
 Find out which ITR Form is suitable for you
  Pr CIT vs. Baisetty Revathi (Andhra Pradesh High Court)
 What is income tax?
 Refund procedure initiated under GST
 Income tax returns (ITR) filing: How to get capital gains tax benefits on assets in own name
 7 avenues to help you save tax under Section 80C of Income Tax Act
 How to make income tax law less taxing

Cut Customs, abolish FBT, CII tells govt
November, 14th 2006
In its pre-Budget wish list to the government, the Confederation of Indian Industry (CII) today demanded a reduction in distribution tax on dividends, abolition of fringe benefit tax (FBT) and a cut in Customs and excise duties. 
 
CII has urged for a reduction in distribution tax from 14 per cent to 5 per cent. It has also asked the government to provide tax credit while computing distribution tax on dividends paid by subsidiaries to parent companies. 
 
The industry body has said FBT should be abolished, or a choice be given to corporates to pay 1 per cent additional corporation tax on its total income. It has also demanded that the minimum alternative tax (MAT) be brought down from 10 per cent to 7.5 per cent. It also supports the total abolition of the levy. 
 
On Customs duty, the CII has said it supports further reduction in peak rate to 10 per cent. The chamber has urged the government to reduce Central Sales Tax (CST) from 4 per cent to 2 per cent with effect from the next financial year. 
 
The CII has also recommended reducing the Cenvat rate of excise duty to 14 per cent from the current 16 per cent. In the forthcoming Budget, definitive measures should be announced towards introducing general sales tax by 2010, its memorandum said. 
 
To raise revenue for investment requirements, especially in infrastructure, the chamber said the limit under Section 80 C should be raised from Rs 1 lakh to Rs 2 lakh, provided the additional Rs 1 lakh savings is in infrastructure bonds. 
 
Under Section 80 C an individual and HUF are allowed to get deduction from the total income on investments not exceeding Rs 1 lakh, the memorandum said. 
 
The industry body has recommended designating incremental tax revenue in the proportion 35:35:20:10 for education, infrastructure, health and other development expenditure.
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Integrated Software Solutions Integrated Software Development Integrated Software Services Integrated Software Solutions India Integrated Softw

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions