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% :: articles on VAT and GST in India :: VAT Audit :: VAT RATES :: list of goods taxed at 4% :: empanelment :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: form 3cd :: cpt :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TDS
General »
 Banks warn share tax hike threatens Paris' post-Brexit appeal
 PMC may decide on property tax rebate for IT firms this week
 I-T Dept is giving out certificates of appreciation. Have you received yours?
 Government works on ironing out benefits refund mechanism for exportersa
  Tax officials are using an IDS provision to question transactions beyond six-year-limit
 Tax-free bonds rally like midcap funds
 Senior citizens do not have to pay advance tax on salary and interest income
 GST: Audit commissioners to get adjudication powers
 Interest on NRE rupee account can be exempt from tax under FEMA
 Impact of GST on Real Estate Sector
 GST regime: Tax payers allowed to take option of third-party interfaces

Punjab needs to plug loopholes to check tax pilferage
January, 14th 2016

Punjab finance minister Parminder Singh Dhindsa on Wednesday acknowledged non-payment of taxes prevailing in the state, asserting a huge gap in meeting the tax revenue collection “due to various factors”.
“There are some loopholes that need to be plugged to check tax pilferage,” Dhindsa said during an interaction with the media at the Chandigarh Press Club here.

He said there was no data available that could reveal the tax pilferage. The minister said that taking the revenue growth to more than 12% would be his government’s biggest challenge for the upcoming budget for the financial year 2016-17.

He said the state’s next pay commission would soon be set up for which the terms and references would have to be revised as these were earlier rejected by the Centre. It would take a year or so to set up the pay commission, he added.

Agreeing that the state government was mortgaging its assets, he said that so far it had transferred the assets like “old buildings” worth more than Rs 2,000 crore to either the Punjab Infrastructure Development Board (PIDB) or the Punjab Urban Planning and Development Authority to generate revenue capital. The minister maintained that the rate of increase in debt had lowered to 32% from 45% in 2002.

The cash-starved state has been facing overdrafts more than once in the present fiscal, raising loans from the Reserve Bank of India.

Dhindsa said the 14th finance commission had done great injustice to Punjab by not acknowledging the free power subsidy to farmers while deciding the revenue deficit grant to the state. “If we are giving huge subsidies and sops to industrialists, why not to farmers,” he asked.

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