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% :: empanelment :: articles on VAT and GST in India :: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: ACCOUNTING STANDARDS :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: Central Excise rule to resale the machines to a new company :: VAT RATES :: ACCOUNTING STANDARD :: cpt :: TDS
 
 
« News Headlines »
 GST registration mandatory for TDS entities
 Govt rules out extension for filing GSTR-3B returns after December
 Tax department’s e-filing portal out of action for 2 hours
 Use ITR-2 to show salary and capital gains income
  TDS Applicability On Government Contracts Under Gst (Under Section 51 Of The Cgst Act, 2017)
  How to file ITR for FY 2016-17 and all the links you need
 All about E-way Bill under GST
 Good and simple tax: on the GST regime
 Seeks to extend the time limit for filing of GSTR-1, GSTR-2 and GSTR-3
 Good news, find Tax Return Preparers soon at a place near you; 5 things to know
 Filing of GST return

CEOs favour FBT abolition
November, 29th 2007
Remove surcharge on corporate tax

A vast majority of corporate honchos has urged the Finance Minister to abolish Fringe Benefit Tax (FBT) on normal business expenses such as sales promotion, travel and gifts to customers in his forthcoming budget proposals.

Nearly 80 per cent of over 400 Chief Executive Officers (CEOs) and Managing Directors (MDs) of premier industrial sectors, who took part in the Assochams survey expressed the view that the tax should not exist as these expenses do not have any element of disguised perquisites to employees. They asserted that gifts to customers was a common practice and employees do not derive any benefit and said that it, therefore, no longer made an economic sense to continue to subject employers to FBT on such expenses.

According to the survey, the distribution of gifts is prevalent in industries like garment, white goods, FMCG, small accessories and automobile, whose margins are reeling under pressure due to rupee appreciation, and removal of FBT on sales promotion expenses will provide them a great relief.

Likewise, subjecting FBT on dealer meetings conducted by various business promoters to discuss business strategies should also not be subjected to FBT, said Assocham President, Venugopal Dhoot.

Fifty-five per cent of respondents said that the surcharge on corporate tax, which is 2.5 per cent now, should be abolished and 30 per cent corporate tax rate imposition should continue.

Similarly, 60 per cent of the CEOs feel that their annual turnover could be taxed to the extent of one per cent, provided FBT was abolished on identified and suggested expenses and money generated out of it be used for irrigation purposes.

 
 
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