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
Latest Expert Exchange
From the Courts »
 Principal Commissioner Of Income Tax, Delhi-17, Vs. M/s Wadhawan Designs
 ITO vs. Yadu Steels & Power Pvt. Ltd (ITAT Delhi)
 Mahavir Jhanwar vs. ITO (ITAT Kolkata)
 Cenveo Publisher Services India Ltd vs. UOI (Bombay High Court)
 PCIT vs. Hardik Bharat Patel (Bombay High Court)
 PCIT vs. NDR Promoters Pvt. Ltd (Delhi High Court)
 Utech Developers Ltd. 305, 3rd Floor Bhanot Corner Pamposh Enclave, G.K.-I New Delhi 110 048 vs. ITO, Ward 18(1) New Delhi
 DCIT, Circle 5(1) Room No.390 C.R.building I.P.Estate New Delhi vs. BSES Yamuna Power Ltd. Shakti Kiran building Karkardoma Delhi 110 092
 DCIT, Circle 8(1) Room No.415 4th floor C.R.building I.P.Estate New Delhi 110 002 vs. Engineers India Ltd. Engineers India Bhawan 1, Bhikaji Cama Place R.K.Puram
 Sh. Gulashanobar, Sanjay Parashar, Adv., 47-A, Devika Chamber, Raj Nagar, District Centre, Ghaziabad vs. Income Tax Officer, Ward-1(2), Ghaziabad
 The DCIT, Central Circle-31, Room No.319, E-2, ARA Centre, Jhandewalan Extn. New Delhi. vs. M/s. Sutlej Agro Products Ltd., 30, Community Centre, Saket, New Delhi.

Govt not to implement banking transaction tax
December, 12th 2014

The government is not considering implementing Banking Transaction Tax to replace all taxes in the country, Parliament was informed today.

Banking Cash Transaction Tax (BCTT) was introduced in June 2005 to track unaccounted money and trace its source and destination, but was withdrawn in April 2009.

“There is no proposal to implement Banking Transaction Tax to replace all taxes in the country,” Minister of State for Finance Jayant Sinha said in a written reply to the Lok Sabha.

Earlier this month, a high level official panel had proposed levying of banking transaction tax on withdrawal of cash beyond a specified limit in a day to check black money.

The report of Tax Administration and Reform Commission (TARC), headed by Parthasarathi Shome, said there was no instrument at present that captures details of cash withdrawals from bank accounts.

It said such information would help the I-T department widen its information base on the use of black money.

“Alternatively, BCTT should be reinstated as an effective administrative measure,” the report had said.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2019 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Work Flow Workflow Software Software Automation Workflow automation Software Design Workflow Design Business Work Flow Workflow automation tools

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