« Top Headlines » Open DEMAT Account in 24 hrs  ITR Filing: 6 Ways to Get Exemption on Income Tax  Income Tax Return Filing: 10 Mistakes To Avoid When Filing ITR For AY 2024-25  Old vs New Tax Regime: Who should move to the New Tax Regime from the old one?  Income Tax Calculator FY 2023-24: How To Know Your Tax Liability Online On IT Dept's Portal?  BackBack Income Tax Act amendment on cards on tax treatment of MSME dues  ITR-1, ITR-2, ITR-4 forms for FY 2023-24 available for e-filing. Check details here  Income tax slabs FY 2024-25: Experts share these 8 benefits for taxpayers in new income tax regime  How To File ITR Online - Step by Step Guide to Efile Income Tax Return, FY 2023-24 (AY 2024-25)  Old or new tax regime for TDS on salary? This post-election 2024 event will impact your tax planning  What Are 5 Heads Of Income Tax?  Income Tax Dept releases interim action plan for FY25 on tax collection, refund approvals «  Pact with Luxembourg to avoid double taxation okayed... FinMin notifies rules for foreign currency exchangeable... » Durable makers for lower indirect taxes February, 19th 2008 The consumer durables industry has asked for lower indirect taxes and cut in Customs duty on inputs in the forthcoming Budget, as it seeks to safeguard its profitability against any increase in cheaper imports of finished goods.   The industry has called for reduction in value-added tax (VAT), abolition of central sales tax and cut in excise duty.   In 2007, all categories recorded a double-digit growth. This year, we expect reduction in VAT and incentives to bring the sector at par with the IT industry. Even reduction in import and excise duty will help in fetching better margins and provide products to the consumers at a cheaper rate, Haier India Director Pranay Dhabai said.   The industry has asked the government that non-IT products like consumer electronics and entertainment should be treated at par with the IT industry regarding indirect taxes.   Industry players have sought incentives for the electronic hardware sector. The difference between IT and non-IT products is getting blurred, as one can view the TV programmes on personal computer and mobile phone. Therefore, it is requested that IT and non-IT products be treated at par with regards to indirect taxes, Mirc Electronics Chairman and Managing Director G L Mirchandani said.