Latest Expert Exchange Queries

GST Demo Service software link:
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft
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: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: VAT RATES :: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: cpt :: VAT Audit :: TDS :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company
Direct Tax »
 How to save tax; amazing tips to make your money stay in your wallet Income tax returns (ITR) filing
 Want to save tax? Here are the best options
 Suggestion For Option To Assessee For Higher And Lower TDS/TCS For Optimization Of Tax Collection And Refunds
 CBDT to conduct nationwide review of tax collection for FY18 today
 Here are a few last-minute tax saving ideas Not planned taxes yet?
 Confessions of a fake CA exposes lacuna in e-filing of tax return
 Greetings from the income tax department
 Scrambling to scrounge proof of tax-saving investment
 5 tips to save your money Do not make this big income tax returns filing mistake
 I-T e-assessment: CBDT notifies new communication scheme
 Which income tax form to use; all you want to know in short and precise manner

November, 16th 2011

Justifying the use of the term "presumptive", Rai said it Justifying the use of the term "presumptive", Rai said it is part of Direct Tax Code and the Income Tax Code recognises and uses terms including "presumptive income", presumptive tax". "In our audit reports, more specifically in our revenue audit reports, we have been calculating

presumptive losses. The terminology is thus not our creation," he said. Explaining why the word "presumptive" was used, Rai said the price of Rs 1,658 crore was arrived in a bidding process in 2001 by market discovery. The sale of 3G in 2010 was by an auction -- market discovery. Globally, spectrum has been auctioned. Giving various calculations incorporated in different draft reports, he said the Stage I report prepared by branch office, Delhi, carried figures of Rs 48,000 crore and Rs 26,000 crore. In the Stage II, this report was re-drafted by the office of DG (P&T) and figures of Rs 2,645 crore, Rs 2,651 crore and Rs 36,000 crore were incorporated. The covering letter of May 31, 2010 mentions figures of Rs 1,02,000 crore and Rs 65,000 crore, Rai said. At Stage III, the draft report was further scrutinised and after examination of records not available earlier, a range of figures from Rs 58,000 crore to Rs 1.76 lakh crore emerged. The top official auditor said while the Ministry of Finance gave two parameters to calculate the value of spectrum, neither was conclusively suggested. "If so, how can the government itself thereafter orchestrate a 'no loss' hypothesis," he said apparently referring to Telecom Minister Kapil Sibal's claim of zero loss due to 2G spectrum allocations.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Enterprise Resource Planning Solutions ERP Solutions Enterprise Resource Planning Software Solutions ERP Software Solutions Supply Chain Management Solutions SCM Solutions Supply Chain Management Software Solutions SCM Software Solutions Enterprise Resource Planning Solutions India ERP Solutions India Enterprise Resource Planning Software Solutions India ERP Software Solutions India Supply Chain Management Solutions India SCM Solutions India Supply Chain Management Software Solutions India SCM Software Solutions India

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