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: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: VAT Audit :: TDS :: cpt :: ACCOUNTING STANDARD :: articles on VAT and GST in India :: list of goods taxed at 4% :: due date for vat payment :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES
« News Headlines »
  10 incomes you need not pay any tax on
 How To File Income Tax Returns In Three Steps By March 31, 2018
 10 things about income tax every taxpayer should know
 What to do if your TDS is not deposited with the government
 What if you forget to verify your Income Tax return?
 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

No proposal to bring big farm firms under tax net
March, 15th 2008
The government on Monday said there is no proposal to bring the big agricultural firms under the tax net.

"Under the existing provisions of the Income Tax Act, 1961, agricultural income of any person is exempt from income tax. Currently, there is no proposal to do away with this exemption," Minister of State for Finance S S Palanimanicham told Lok Sabha in a written reply.

He said taxation of agricultural income is outside the purview of the Union Government as 'Taxes on agricultural income' is under the 'State List' of the Constitution. In a reply to a separate query, Minister of State for Agriculture Kanti Lal Bhuria said the recommendation to include agriculture in the 'Concurrent List' was made by the National Commission on Farmers in the 'Revised Draft National Policy for Farmers'.

However, it was not incorporated in the National Policy for Farmers 2007 as it requires a constitutional amendment, he said.

On suggestions for having a separate budget for agriculture, he said, "As the agriculture sector has a large number of inter-sectoral linkages, which are dealt by several ministries and departments of the Central government, all agriculture related matters cannot be perceived under any one single ministry, disregarding the inter-linkages".

Moreover, as agriculture relates to the states, the primary responsibility of policy and programmes implementation lies with the states, the minister said.

The Centre supplements the efforts of the states through appropriate financial and policy supports, Bhuria said, adding "as such, the suggestion for having a separate agriculture budget was not found feasible".

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Quality Assurance Services Testing and Re-testing

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