Latest Expert Exchange Queries
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) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: cpt :: form 3cd :: VAT Audit :: list of goods taxed at 4% :: TDS :: ACCOUNTING STANDARDS :: VAT RATES :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: ACCOUNTING STANDARD
 
 
News Headlines »
 Provisional Enrollment under Goods and Service Tax (GST)
 Ten income tax changes that will come in to effect from April 1
 New income tax provisions you need to be aware of
 8 benefits you must know about this tax-saving mutual fund
 10 most important income-tax changes which will apply from April 1
 Delhi: 54 CAs, company secretaries on radar in I-T crackdown against black money
 10 Income Tax Rules That Will Change From April. See Details Herea
 Looking for last-minute tax planning with Section 80C investments? Here's help
 Aadhaar mandatory for filing income tax return
 Will Aadhaar linkage solve India's income tax woes?
 GST roll out from July 1 will make goods cheaper: Jaitley

`Tax rates not to be raised'
November, 27th 2006

The Government is unlikely to go in for any hike in direct or indirect tax rates in the forthcoming Budget, but may initiate steps to widen the tax base by rationalising the tax exemptions.

"I do not think raising tax rates for resource mobilisation is an option anymore. We are not going to raise it. We will have to look at systemic changes in the machinery for enlarging tax base. Tax exemptions have to be rationalised and business process restructuring have to be carried out in the tax system," Mr K.M. Chandrasekhar, Revenue Secretary, said at the India Economic Summit here on Sunday.

Recommendations

He later told newspersons that Indian Council for Research on International Economic Relations and the National Institute of Public Finance and Policy have been asked to study the cost-benefits of various direct and indirect tax exemptions and come up with recommendations.

Mr Chandrasekhar hinted that there might be some lowering of indirect tax rates in the forthcoming Budget. The Revenue Secretary also highlighted that the share of indirect taxes in the overall revenues have come down from 35 per cent in 1990 to 17 per cent in 2006. However, the share of direct taxes in overall tax revenue of the Centre has grown from 19 per cent to 45 per cent during the same period.

He also said that the country's tax-GDP ratio was likely to touch 11 per cent this year as against a level of about 10.34 per cent in 2005-06 and 8.12 per cent in 2001-02.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Bath SEO Company Birmingham SEO Company Bradford SEO Company Brighton and Hove SEO Company Bristol SEO Company Cambridge SEO Company Canterbury SEO Company Carlisle SEO Company Chester SEO Company Chichester SEO Company Coventry SEO Compan

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