Latest Expert Exchange Queries

GST Demo Service software link:
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft
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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Popular Search: due date for vat payment :: empanelment :: articles on VAT and GST in India :: ACCOUNTING STANDARD :: VAT Audit :: list of goods taxed at 4% :: cpt :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARDS :: TDS
News Headlines »
 TDS on rent and other tax tasks to complete before March 31
 5 income tax changes which will come into effect from April 1, 2018
 Why you shouldn't be a last-minute tax filer
 How to calculate income tax for this assessment year on Moneycontrol
 6 Tax notices you may get and how to cope with them Income Tax Notice
 Deadline to pay advance tax ends tomorrow: Here is a step-by-step guide
  Central Goods and Services Tax (Second Amendment) Rules, 2018
 Income Tax Return Filing Deadline: Waiver On LTCG Tax To End On 31 March. Details Here
 Income tax returns (ITR) filing: Top mistakes that can be very costly
 Income Tax Return (ITR) filing: 6 last-minute things you can still do to save tax for FY17-18
 How to file Income Tax Returns online in 5 simple steps

Govt may levy income tax on dividends
March, 08th 2007

Your tax liability may see a steep rise in the coming years with the finance ministry reviewing the definition of income to consider bringing in new heads like dividends under its scope.

Income from dividends, which is at present taxed in the hands of the companies, could soon be added to your income and you may have to shell out the applicable income tax. That is just one of the additions which are in the works.

But the good news is that the EET (exempt-exempt-tax) method of taxation which would have resulted in individuals having to shell out tax on interest earned on instruments like Public Provident Fund and post office deposits, or for that matter returns on mutual funds is not on the taxmans radar for now.
There are also indications that the government may, notwithstanding finance minister P Chidambarams reiteration to the contrary on Wednesday, go slow on the move to scrap tax exemptions.

Besides dividends, sources in the government point out, there may be other items too which could be added to your income. But its still too early for North Block officials, having just got the budget out of the way, to get down to work on the new direct tax code.

We are looking at all the aspects. How we treat income from dividends and how we define income will be reviewed, said a senior source involved with the review of the Income Tax Act.

On EET, its a reprieve for taxpayers. While the finance ministry received an expert committee report last year, it has decided against burdening the direct tax code with politically contentious issues. Putting EET in the new direct tax code will shift attention from simplifying the norms, an official said.

Besides, sources pointed out, tax benefits to encourage savings are allowed in other countries too.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Web Application Development Web based Software Solution Web Application Deployment Web Application Solutions Web Application Software Development Web Application Deployment Web Application Programming Web Application Design and Development

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