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: list of goods taxed at 4% :: ACCOUNTING STANDARD :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: due date for vat payment :: articles on VAT and GST in India :: TDS :: empanelment :: cpt :: VAT Audit :: VAT RATES :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company
 
 
« News Headlines »
 How many times one can revise tax returns?
 Income tax exemption for FY19
 How will the new provisions really work?
 How to save income tax? Best tips for young earners
 Forgot to verify your income tax return? Here's help
 Notification of Government e-Marketplace (GeM) under section 138 of the Income-tax Act
 Income tax returns can be filed even if you missed deadline
 What is the difference between a tax return and a tax refund?
 Improving tax compliance in India
 How to invest in the new LTCG tax regime
 5 Tips to help you save tax

Even PPF may become taxable soon
November, 11th 2006

The Finance Minister has hinted towards the possibility of reducing income tax rates. But dont rejoice, if the Exempt-Exempt-Tax-regime is introduced even your PPF and insurance payout could be taxable.

Since the last budget, the Government's coffers have registered huge growth in direct tax realisations.

The income tax collections have shot up by over 26 per cent since last year, while the corporate tax has risen by over 35 per cent.

Buoyed up by the rise in tax collections, the Finance Minister has already indicated about the possibility of reducing the income tax rates. In fact experts say that a reduction in tax rates revenues could lead to further compliance.

Either Tax rate should be reduced or reduction in number of taxes would be beneficial for corporates as it would reduce other processes, said PricewaterhouseCoopers Executive Director Gautam Mehra.

Any serious discussion over reducing the income and corporate tax levels will happen only in January next year, which incidentally is also the time around which the Government plans to come up with the new Income Tax Act.

The new Act is aimed at simplifying taxation rules and modifying exemption norms.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Company Overview

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