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: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: form 3cd :: empanelment :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: ACCOUNTING STANDARDS :: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: due date for vat payment
 
 
« General »
 Retailers need to file single GST return every month
 Aadhaar is must for income tax returns if you have one; Here's how you can file it online
 Will it be a tax haven above the law?
 Your mutual fund investment tax efficient? Here are 3 steps to ensure utmost efficiency for your portfolio
 Finally a goods and services tax. But what lies ahead?
 Tax May Rise On Outbound M&As, Indian Mncs’ Investments
 Filing income tax return? Do remember to claim benefits on your reimbursements
 Banks will have a hard slog ahead to get GST-ready
 Clarification regarding applicability of Section 16 (1)(a) of the Companies Act. 2013 with reference to cases under corresponding provisions of Companies Act. 1956
 Introduce indemnity clauses with suppliers on tax compliance: Expert
 While filing tax in India, NRIs do not have to report overseas assets

Interim budget may see some change in taxes: P Chidambaram
February, 04th 2014

The upcoming interim budget could have some goodies for the aam aadmi in theform of indirect tax cuts, but there won't be any income-tax relief soon for inflationscarred
consumers. Finance minister P Chidambaram will present the vote-on-account on February 17. "We can make any proposal short of amending any law... We cannot propose amendments to the Income-tax Act, Customs Act or the Excise Act... We can also outline a vision for the future," Chidambaram said in response to a query on the vote on account at a news conference on Monday.

This could mean possible moves to ease curbs on gold and selective changes to provide an impetus to some sectors. ET reported last month that some sections of the Congress party's leadership wanted the finance minister to make a 'splash' with the vote on account before the general elections.

Chidambaram seemed to rule out any such design in the vote-on-account, though he has a near Rs 10,000-crore surplus to accommodate any last-minute spending. He said whatever changes are required to be made without an amendment to the law "are being made and will be made".

Indirect taxes include excise duty levied on goods at the factory gate, all import duties such as basic Customs duty, special additional duty, countervailing duty and service tax. The government can cut indirect tax rates without Parliament's approval through a notification. "We have made a couple of changes last week. We will continue to ake those changes until the term of this government (ends) if they do not require parliamentary legislation or sanction. We will have to notify the changes and place the notification in Parliament," he said.

Former finance minister Jaswant Singh unveiled indirect tax cuts just days before the vote on account in 2004. Pranab Mukherjee announced cuts in excise duty and service tax rates by two percentage points in his reply to the vote on account in 2009. "In 2004, Mr Jaswant Singh made a 12-page speech. In 2009, Mr Mukherjee made an 18-page speech. So, I have two numbers to choose from between 12 and 18," Chidmbaram said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Desktop Application Development Outsourcing Desktop Application Development Offshore Desk

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