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: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARDS :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: VAT RATES :: due date for vat payment :: VAT Audit :: form 3cd :: empanelment :: TDS :: ACCOUNTING STANDARD :: cpt :: list of goods taxed at 4%
News Headlines »
 How to file income tax returns online without having Form 16 in 10 simple steps
 Deadline For Filing Income Tax Return (ITR) Is Just 11 Days Away: 10 Latest Details To Know
  10 incomes you need not pay any tax on
 How To File Income Tax Returns In Three Steps By March 31, 2018
 10 things about income tax every taxpayer should know
 What to do if your TDS is not deposited with the government
 What if you forget to verify your Income Tax return?
 TDS on rent and other tax tasks to complete before March 31
 5 income tax changes which will come into effect from April 1, 2018
 Why you shouldn't be a last-minute tax filer
 How to calculate income tax for this assessment year on Moneycontrol

CBDT plans to nab tax evaders with STT
December, 12th 2007
Securities Transaction Tax (STT) is all set to become an effective tool for generating intelligence about income made from market operations. The Central Board of Direct Tax is examining ways of using the STT data on the lines of annual information return (AIR)
to nab tax evaders. The board had, earlier this year, set up an internal committee to examine how STT data could be used to generate intelligence on tax evaders. The committee has submitted its recommendations which are being examined now, sources said. The income tax department already gets information on seven financial transactions under the AIR system. The transactions covered include purchase or sale of property over Rs 30 lakh, credit card spend of
over Rs 2 lakh in a year, investments of over Rs 2 lakh in mutual funds, Rs 5 lakh in debenture/bonds, RBI bonds or bonds by company, Rs 1 lakh in shares, cash deposit of Rs 10 lakh in savings account. The data will be very effective since it carries details of permanent account number, sources said. Market regulator Sebi has made it mandatory for all demat account holders to have a PAN. In fact, the government made PAN mandatory for all security market transactions in the last budget.The data contained in STT returns is quite useful for verification of the genuineness of the transactions carried by investor or trader with PAN serving as a link. With the boom in stock market attracting many more, the income tax department feels that STT data could turn out to be an effective intelligence tool to track tax evaders. Finance minister P Chidambaram had introduced STT in the Union Budget 2004. All investors in the stock market pay a fixed securities transaction tax of 0.125% for every
transaction in cash for delivery of shares. However, transactions in derivatives trading attract lesser STT of around 0.017%. STT collections registered a growth of 57.61 % to Rs 3,783 crore in April-October 2007
Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Integrated Software Solutions Integrated Software Development Integrated Software Services Integrated Software Solutions India Integrated Softw

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