Latest Expert Exchange Queries

Make 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) | 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: ACCOUNTING STANDARDS :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4% :: VAT Audit :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: form 3cd :: TDS :: cpt :: empanelment
 
 
« News Headlines »
 4 reasons why deadline to file ITR should be extended this year
 It’s time to file your India tax return
 Are you filing the correct GST return?
 How foreign companies can file income tax return in India
 Last minute checklist for filing income tax return
 Filing tax returns? Here are seven things to remember
 Clarifications on computation of book profit for the purposes of levy of Minimum Alternate Tax (MAT) under section 115JB of the Income-tax Act, 1961 for Indian Accounting Standards (Ind AS) compliant companies.
 Mistakes in filing income tax returns that may get you a tax notice
 Know how you can claim return of income in Form 26 AS case
 What you must know for tax filing this year
 How to file tax return if you have two Form 16s

PPF savings may be taxed on maturity
February, 21st 2007

There is a chance you may soon have to make some changes in how you plan your finances. Sources say the government may reopen a proposal to levy a tax on your savings in totally tax-free instruments like the Public Provident Fund (PPF) and equitylinked savings schemes (ELSS) offered by mutual funds. This, sources said, will be done by introducing a new tax called exempt-exempt-tax (EET).

In this regime, contributions to tax savings instruments are exempted (E) from the taxable income. The interest earned on these contributions will also find exemption (E). But at the time of maturity, these contributions will be taxed (T).

This is in contrast to the current EEE or exempt-exempt-exempt regime where contributions to tax-saving investments are exempt from taxes at all stages.

Sources said the finance minister may kick off EET in a phased manner by first covering non-compulsory schemes like PPF and ELSS with prospective effect. What it means is that future investments in PPF and ELSS may be subject to tax at the time of withdrawal beginning April 1.

But both these instruments are likely to have a lock-in period of five years. Subsequent to this, its expected that investments in Employees Provident Fund and pension schemes along with National Savings Certificate, post office savings, bank deposits, securities of Central government, bonds of infrastructure companies and even insurance policies may find their way into the EET net.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Development Software Programming Software Engineering Custom Software Development Requirement Based Software Development Software Solutions Software Serv

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