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: due date for vat payment :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: TDS :: Central Excise rule to resale the machines to a new company :: VAT Audit :: list of goods taxed at 4%
 
 
« General »
 Slow tax growth reflects companies' GST troubles
 What is PAN card? Why is it important?
 Govt to cut down executive discretion on tax laws
 Businesses can start filing July returns on GSTN from August 5
 Are you earning abroad? Know the tax rules
 Attention last minute tax filers! Know about key changes made by govt this year
 Accounting relief for IndAS companies
 How you can reduce your tax to zero if you have income within Rs 10 lakh
 NRIs’ overseas bank info needed only for tax refund
 Non-performance: I-T dept transfers 245 commissioners
 Income Tax efiling: Tax implications resulting from clubbing of income

Reduce income tax by 10 percent: ASSOCHAM
January, 06th 2010

The Associated Chamber of Commerce and Industry (ASSOCHAM) exhorted the government on Tuesday to reduce income-tax  for small and medium enterprises (SMEs) by 10 percent in the coming budget.

In its pre-budget presentation with the Finance Minister Pranab Mukherjee, the ASSOCHAM said that income tax for SMEs should be reduced to 20 percent from present 30 percent while corporate tax should be curtailed at 25 percent.

"Corporate tax in India is still higher as it's effective rates exceed 35 percent and discourages foreign investments including Indian business," the ASSOCHAM president Swati Piramal  viewed. 

The industry body also demanded that service tax should be extended to all services except those in negative list because it supports the policy of wider tax base with low tax rate which include tax compliance and GDP growth rate.

Piralmal also asked for integration of excise and service tax into Central GST from April 2010  and sought a flawless tax regime which can be ensured with subsuming five key elements: purchase tax, electricity duty and taxes on natural gas, sugar and textiles.

A flawless GST, she said, would reduce cost of production of Indian industry by 10-15% and additional accrue the government annual revenue to an extent of  Rs.1 lakh crore.

In the pre-Budget presentation, the industry body strongly advocated for continuation of stimulus package for fiscal 2010-11 also which can be gradually phased out subsequently.

"Stimulus package should not be suddenly withdrawn but should be gradually phased out as the industry is just coming out of recession," the ASSOCHAM chief said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Portfolio

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