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: ACCOUNTING STANDARD :: due date for vat payment :: 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 :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: empanelment :: VAT RATES :: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: form 3cd :: list of goods taxed at 4% :: TDS
 
 
« News Headlines »
 Regarding Filing of online return for first quarter of 2017-18 extension upto 01-09-2017
 Deadline to file returns extended to 28 August for biz with transitional
 GST input tax credit form
  How to rectify income tax returns
 Govt extends tax exemption for industry in North East, hilly states
 Should you file revised Income Tax returns; find out here
 Tax Deducted at Source (TDS) in Goods & Services Tax (GST)
 10 companies that blamed GST for soft June quarter
 How will GST impact the Indian economy
 10 days left to file your first GST return. This is how you do it
 What is property tax and how is it calculated…

Progressive tax rates to help
November, 11th 2009

Indians could get richer by saving more on income tax and enjoy other benefits if the Direct Taxes Code proposed by the Union Government becomes a law, according to the Bangalore Chambers of Industry and Commerce (BCIC).

According to the draft DTC on income tax, the slab of income would be raised in ways beneficial to all citizens of the country.

The Act which is to be implemented by April 1, 2009, has suggested that the tax bracket for earning individuals be raised and only people earning more than Rs 25 lakh or more per annum would be liable to pay 30 per cent which was earlier only Rs 5 lakh. Earnings up to Rs 10 lakh would be charged only 10 per cent tax under the proposed revision.

The BCIC released an overview and recommendations book on Tuesday on the Direct Taxes Code and the rationale behind their proposals.

The forum has conducted extensive research and analysis and with the help of experts from various organisations, and has come up with a comprehensive document, said KR Girish, President of BCIC. He also said that taxes were progressive and would encourage spending power and leave common man with more disposable income.

The Income Tax Act of 1961 is being reviewed with the Prime Minister Manmohan Singhs inclusive growth philosophy, he said.

Even the corporate tax has been reduced to 25 per cent from 30 per cent but the exemptions have been removed and taxes would not be charged under MAT and book profits and will be taxed for gross assets.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - We Bring IT. Offshore software outsourcing company. We use Global Delivery Model (GDM) and believe in Follow The Sun principle

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