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: ACCOUNTING STANDARDS :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: cpt :: due date for vat payment :: TDS :: articles on VAT and GST in India :: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: VAT Audit :: VAT RATES :: Central Excise rule to resale the machines to a new company
 
 
News Headlines »
 Section 35 of the Income-tax Act?
 Notification regarding extension of last date w.r.t submission of closing stock by dealer.
 Integrated Goods and Services Tax (IGST) Rules, 2017 (As on 15.11.2017)
 Central Goods and Services Tax (CGST) Rules,2017 (As on 15.11.2017)
  101st Constitution Amendment Act, 2016
 Pr. Commissioner Of Income Tax-6 Vs. Mccain Foods India Pvt. Ltd.
 Section 10 of the Income-tax Act, 1961
 Income tax returns filing: No tax on gift received from relatives in form of cash
 Income tax returns (ITR): Here is why you need to pay higher tax on other incomes
 GST Update On Issuance Of Debit Notes And Credit Notes
 How Mutual Fund Investments Can Help Save Income Tax

Tax exemption facility on capital gains in 2007-08 too
January, 02nd 2007

Investors with long-term capital gains from sale of immovable property can breathe easy.

The Finance Ministry has indicated that even in the next fiscal, investors would get the facility of parking such gains in government approved bonds to avail themselves of tax exemption on long-term capital gains.

Currently, this facility is available under Section 54EC of the income-tax law. This provision provides tax exemption on capital gains arising from the transfer of a long-term capital asset if such gains are invested in notified bonds.

"As of today, there is no likelihood of the discontinuance of the facility available under Section 54EC. After March 31, 2007 another scheme will be there (whereby bonds of certain companies would be specified for next fiscal)", Mr A.K. Sinha, CBDT spokesperson, said here on Monday.

For 2006-07, the Central Board of Direct Taxes (CBDT) has, till date, notified bonds for Rs 8,000 crore from Rural Electrification Corporation (REC) and Rs 1,500 crore from the National Highway Authority of India (NHAI). These resources have to be mobilised by March 31, 2007.

By September 2006, REC raised Rs 4,500 crore and NHAI raised Rs 1,500 crore. The CBDT did not anticipate that these would be fully subscribed by September itself.

Last week, the CBDT notified additional bonds for Rs 3,500 crore from REC to meet the need for more such bonds and also to help REC mobilise more resources. REC wanted to mobilise Rs 8,000 crore in fiscal 2006-07 through such bonds, Mr Sinha said.

Unlike earlier years, where the bond offerings were open-ended, the Government has, for the current fiscal, decided to cap the value of bonds to ensure that money is mobilised by only those companies who needed it.

Meanwhile, Mr Sinha said that direct tax collections in the current fiscal would exceed budget estimates by at least Rs 10,000 crore.

In Budget 2006-07, the direct tax collections estimate was pegged at about Rs 2,10,000 crore

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Article Management Solutions System Article Management Software S

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