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: ARTICLES ON INPUT TAX CREDIT IN VAT :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: articles on VAT and GST in India :: cpt :: VAT Audit :: empanelment :: TDS :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS
 
 
News Headlines »
 E-filing ITR: Govt's income tax website or private websites?
 Income-tax (17th Amendment) Rules, 2017
 GST: One nation, one market, one tax
 Ready or not, businesses brace for biggest-ever tax reform
 Ready or not, businesses brace for biggest-ever tax reform
 Make your inventory and invoicing software GST Ready from Binarysoft
 Filing income-tax returns gets simpler for salaried persons
 Ten rules you must follow while filing income tax returns
 Reforming the income tax tribunal
 How the new system might impact consumers and businesses
 10 ways you get benefited from filing your tax return

`Tax structure must be first rationalised'
March, 06th 2007
Was it necessary to tinker with the direct taxes in the Union Budget 2007-08? No, considering a new Income-Tax Act is to be introduced.

According to Mr T.S. Krishna Murthy, former Chief Election Commissioner and former official with the Union Finance Ministry, this move will neither boost tax collections nor will it simplify tax administration.

Addressing the members of the Southern India Chamber of Commerce and Industryat a post-Budget analysis session, he said more taxation would only cause administration problems. "Let us rationalise the tax structure first and then address income-tax issues," he said.

He also said budget allocations in the past had not been properly used. Despite pumping money into infrastructure and roadways for the last 50 years, Indian towns still have bad roads. "Making statements on the floor of the House will not implement anything," he said.

Mr Krishna Murthy added that growth driven by foreign investment would come if the Government chose to dedicate 60-70 per cent of non-plan expenditure towards infrastructure, education etc.

Mr M.R. Venkatesh of GSV Associates said this budget had "completely outsourced" all growth responsibilities, including development in agriculture.

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

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