Latest Expert Exchange Queries
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) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
Popular Search: cpt :: list of goods taxed at 4% :: articles on VAT and GST in India :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit :: form 3cd :: Central Excise rule to resale the machines to a new company :: TDS :: due date for vat payment :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment :: ACCOUNTING STANDARDS
« Budget Extravaganza »
 Why advancing the Union Budget date may not make much difference
 Govt keen 2017-18 budget should not clash with polls: Arun Jaitley
 Finance Ministry seeks industry suggestions on taxation for Budget
 Budget should focus on fiscal firm up
 Finance ministry keen to present Budget on February 2 or earlier
 Poor railway performance may mar merged Budget
 Cabinet’s formal nod to be sought for Budget on Feb. 1
 Finance Ministry may talk to EC before finalising Budget date
 Govt starts biggest ever overhaul of Budget
 How does an early budget impact you
 Welcome steps to overhaul the Budget

FM: Major changes in direct tax in Budget in February
December, 01st 2010

Finance minister Pranab Mukherjee is unlikely to go for any major changes in direct taxes when he presents the Budget in February.

According to indications, he will restrict himself to minor tweaking in the policy on income and corporation tax, and leave the major changes to April 2012 when he is hoping to implement the  Direct Taxes Code.

"As regards direct taxes, since the Direct Taxes Code, 2010, has been introduced in Parliament and is proposed to be effective from April 1, 2012, you may consider forwarding only those proposals which are urgent in nature," the finance ministry said in a letter to industry associations while seeking their suggestions for the next Budget.

In the letter, the finance ministry has called for suggestions for changes in the duty structure, rates and broadening of tax base on both the direct and indirect tax fronts and has sought economic justification for the suggestions.

As part of the annual Budget-making exercise, the finance ministry seeks suggestions from industry and trade associations, apart from economists and other government agencies, and then acts on some of the proposals. In addition, some of the changes announced in the Budget are based on the developments and suggestions that come through the financial year.

While the government had indicated that it would not push for major changes in tax policy in the next Budget, it has for the first time announced its intent formally.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Content Management System development CMS development Content Management Solutions CMS Solutions Content Management Services CMS Services CMS Software

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