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: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: cpt :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: empanelment :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: form 3cd :: VAT RATES :: TDS :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit
 
 
« News Headlines »
 Govt extends service tax return filing date to April 30
 No move to tax farm income, clarifies Arun Jaitley
 New board for indirect taxes to become operational from June 1
  9 changes that came into effect from April 1
 First time filing income tax? Here's all you need to know about Form 16 and Form 26AS
 New Opening Financial Controller Chartered Accountant (Manufacturing Plant) A Leading Company
 Income Tax Filing 2017: All you want to know about the single page ITR form SAHAJ
 How to benefit from investments in tax saving mutual funds
 60 per cent of income tax notices on fishy cash deposits returned
 All about income tax return form Sahaj
 Why seeing Form 26AS is a must before filing tax return and how to access it

Service tax waiver limit may go up
February, 02nd 2007
The finance ministry is likely to raise the exemption limit for service tax from Rs 4 lakh to Rs 10 lakh in the forthcoming Budget. 
 
This will benefit a large number of individuals who provide taxable services like beauty enhancement at parlours. 
 
There has been a demand from experts to raise the limit in order to lower the cost of collecting the tax. 
 
Going by the 80:20 principle, where 80 per cent of revenues come from 20 per cent of tax-payers, such a move would lower the cost of administration and reduce the number of assessees by 40-50 per cent from the current 10 lakh, Ashok Dhingra, head of indirect taxation at Khaitan & Co, said. 
 
PricewaterhouseCoopers Executive Director S Madhavan expected the limit to be hiked from Rs 4 lakh to Rs 10 lakh in this years Budget. 
 
The other benefit of such a move would be less tax avoidance. Experts said the current limit encouraged people to misreport taxable income and resort to dealings in cash.
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Contact Us

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