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: TAX RATES - GOODS TAXABLE @ 4% :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: VAT RATES :: due date for vat payment :: empanelment :: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: Central Excise rule to resale the machines to a new company :: form 3cd :: ACCOUNTING STANDARD :: cpt
 
 
General »
 Alarm bells over return of tax inspector raj
 Shah gets notices over civic tax dues
 Tax revenue down in first six months after prohibition
 Post demonetisation, Income Tax department sends 30 cases of irregularities to Enforcement Directorate, CBI
 Don’t rush into a new tax without being prepared
 Can’t tax income from palace rent: Supreme Court
  Withdrawal of Legal Tender Character of the existing Bank Notes in the denominations of ₹ 500/- and ₹ 1000/- (Updated as on November 30, 2016)
 Cases for tax scrutiny will be selected by machines
 Time to revisit 1997 direct tax rates, says P Chidambaram
 Lok Sabha passes Bill to tax black money deposits post demonetisation
 Last day to pay property tax with old notes

Panel on curbing black money gets 2-month extension
December, 02nd 2011

The government has given a two-month extension to the term of the Central Board of Direct Taxes (CBDT) committee that is examining ways to strengthen laws to curb the generation of black money in the country, its illegal transfer abroad and its recovery.

The panel was originally given time till November to submit its recommendation. But, it was yet to finish consultations, as inputs from various quarters had not received as yet, senior CBDT official said on Thursday. We asked for time till January 31. (Finance minister) Pranab Mukherjee has approved it, he told Business Standard.

The official said the response from most of the industry chambers and professional bodies were still awaited. In a bid to get recommendations from the income tax department officials with expertise in this area, a nodal officer has been appointed to collate the inputs by mid-December, he added.
The government had constituted this committee in May this year under the CBDT chairman to examine ways to strengthen laws to curb the generation of black money.

Apart from the top CBDT officials, including two members of the board, the members of the committee comprise the director of the enforcement directorate, director-general of the directorate of revenue intelligence and director general (currency).

The panel is examining the existing legal and administrative framework to deal with the menace of generation of black money through illegal means such as declaring wealth generated illegally as national asset. It is also entrusted with the task of enacting and amending laws to confiscate and recover such assets. Further, the body will provide for exemplary punishment against its perpetrators.

The panel has asked for inputs from public and various stakeholders for preparing a report on the issue, which is at the centre stage.

Though it is expected that the recommendations of the panel will have its bearing on the government policies for curbing black money, the CBDT official say it will not be appropriate to link its recommendations with next budget.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Multi-level Marketing MLM India Affiliate Marketing Affiliate Marketing Software MLM Software MLM Solutions Multi level marketing solutions MLM Servi

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