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 :: cpt :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: due date for vat payment :: form 3cd :: list of goods taxed at 4% :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: VAT Audit :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment
 
 
Direct Tax »
 FinMin may review tax regime on long-term capital gains
 Income tax return: TDS refund on capital gains invested needs to be instant
 CBDT holds circular on indirect tax provisions
 CBDT puts on hold circular on taxation of indirect transfer of shares
 CBDT prods officials to meet tax collection targets
 Budget 2017: Direct tax reforms to be gradual than radical, says KPMG
  FM Arun Jaitley may drop tough tax accounting rules
 FM Arun Jaitley may drop tough tax accounting rules
 How to view your TDS through form 26AS?
 Deduction of tax at source Income-tax deduction from salaries under section 192 of the Income-tax Act, 1961
 Banks must furnish information on accounts that have seen deposits over 2.5 lakh: CBDT

Direct Taxes Code Bill to be tabled after noting panel recommendations
February, 08th 2013

The government will come up with a modified Direct Taxes Code (DTC) Bill after incorporating the suggestions of the Standing Committee on Finance which, among other things, has suggested raising the annual income tax exemption limit to Rs. 3 lakh.

"We will come out with a modified DTC in response to the standing committee suggestions," said Parthasarathi Shome, Advisor to the Finance Minister, at a FICCI event. He said the Finance Ministry is looking at the DTC Bill and working on tax structures as suggested by the parliamentary committee.

The committee, headed by senior BJP leader Yashwant Sinha, in its report (March 2012) had suggested raising the annual income exemption tax limit to Rs. 3 lakh as against Rs. 2 lakh proposed in the original DTC Bill. The current tax exemption limit is Rs. 1.8 lakh.

It has also suggested that subsequent tax slabs be adjusted accordingly to provide relief to people reeling under the impact of inflation. The DTC will eventually replace the over five decade-old Income Tax Act.

"We are trying to see what could be the best in terms of transparency so that issues that are hurting industry could be covered adequately," Mr Shome said. He further said that the finance ministry is also addressing the issue of expenditure control and that remains a major challenge.

"We are looking into expenditure efficiency. We should do more in terms of efficiency. The issues on expenditure side is being addressed. Expenditure control is a major challenge and is being addressed by the Finance Minister," he said.

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

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