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: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: VAT RATES :: VAT Audit :: articles on VAT and GST in India :: form 3cd :: empanelment :: Central Excise rule to resale the machines to a new company :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: TDS
 
 
News Headlines »
 Haryana extends last date for payment of property tax, to March 31, 2017
 Who can file tax returns under presumptive taxation scheme
 Income tax dept notifies amendments for sharing taxpayer information
 Seven things you must do before 31st March
 Income Tax saving investments: Top 5 options available for high-income individuals
 How to use zero tax rule on long term capital gains on stocks
 GST Returns - Furnishing details of inward supplies
 5 ways to maximise you income tax return
 Income-tax (2nd Amendment) Rules, 2017
 Soon, Faster PAN, An App For Filing Tax Returns
 Changes in income tax return filing process

Extend Sec 80 C limit to Rs 3 lakh
February, 28th 2008

Extend the limit of Section 80 C of the Income Tax Act from Rs 1 lakh to Rs 3 lakh. Section 80 L exemption of interest on bank deposits should be restored. A special incentive should be given for personal expenditure made through credit or debit cards. A 10 per cent deduction from the taxable income subject to an overall ceiling can be given. This will reduce the quantum of physical currency and discourage tax evasion through non-billing or under billing. Thus preventing t he pilferage from sales tax and service tax.

Rationalise the indirect tax structure on cement. At present there is no import duty but excise duty is still there. Such measures will affect an industry because of unchecked appreciation of rupee.

All persons disclosing a net agricultural income exceeding Rs 2 lakh should maintain compulsory books of account and those exceeding Rs 5 lakh should get their accounts audited. A comprehensive data base of all Indian citizens should be created showing their PAN, Passport no etc., so as to trace tax evasion and for all statistical purposes.

Siraj Mohammed, Kozhikode

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