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: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD :: due date for vat payment :: list of goods taxed at 4% :: VAT RATES :: ACCOUNTING STANDARDS :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment :: Central Excise rule to resale the machines to a new company :: cpt :: articles on VAT and GST in India :: VAT Audit :: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT
 
 
« Direct Tax »
 Pune region tops in direct tax kitty growth
 RBI releases draft directions on hedging of commodity price
 Unexplained deposits in focus, taxmen ordered to go all out in the next three months
 Why India’s corporate tax rate should be cut
 Best ways to save tax under section 80C
 Govt may exceed direct tax collection target of FY18 Budget estimates
 CBDT relaxes MAT provisions for companies under corporate insolvency
 CBDT relaxes norms for MAT on firms facing insolvency
  Income-tax deduction from salaries during the financial year 2017-18 under section 192 of the Income-tax Act, 1961
 CBDT to appeal for revival of certain deregistered companies
 How the new tax regime fared in India these last 6 months

Assocham pitches for GAAR deferral; not in favour of new direct taxes code
November, 03rd 2014

Industry body Assocham has sought deferment in the introduction of General anti-avoidance rules (GAAR) under the Indian income tax law.

The income tax law must be amended immediately so as not to introduce GAAR from assessment year 2016-17 (financial year 2015-16), Assocham said in a memorandum to Revenue Secretary Shaktikanta Das.

This formed part of set of recommendations to the Government post the chamber's 11th international tax conference held in the capital in early October.

GAAR is set of rules framed to minimize tax avoidance. Under this concept, tax authorities in a country deny the tax benefits of transactions or arrangements which do not have any commercial substance.

At this juncture to introduce GAAR as part of tax law is not warranted, the apex industry chamber has said.

Neither is Indian economy matured enough to stand up to the exacting standards of GAAR examination nor is the tax administration ready to handle a sophisticated instrument like GAAR, the chamber said.

If GAAR is introduced at this stage, it will only act as a handle for more harassment of taxpayers, thus making the tax administration more adversarial, the chamber has said.

Direct taxes code

Assocham is also not in favour of enactment of a new direct taxes code (DTC). It has urged the Modi-led Government not to introduce DTC at all as this would entail more cost than benefit.

A certain level of stability has been achieved with the present law. At this juncture, introduction of a new law with new concepts will only unsettle the situation and more time will be spent on understanding it and putting a mechanism to administer it, the chamber has said.

On the controversial issue of indirect transfer of shares, Assocham has suggested that the provisions to tax such gains be applied prospectively with effect from April 1; 2012.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 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