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: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment :: TDS :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: ACCOUNTING STANDARDS :: VAT RATES :: ACCOUNTING STANDARD :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India
 
 
« News Headlines »
 CBDT simplifies ITR filing process from FY18
 Govt extends service tax return filing date to April 30
 No move to tax farm income, clarifies Arun Jaitley
 New board for indirect taxes to become operational from June 1
  9 changes that came into effect from April 1
 First time filing income tax? Here's all you need to know about Form 16 and Form 26AS
 New Opening Financial Controller Chartered Accountant (Manufacturing Plant) A Leading Company
 Income Tax Filing 2017: All you want to know about the single page ITR form SAHAJ
 How to benefit from investments in tax saving mutual funds
 60 per cent of income tax notices on fishy cash deposits returned
 All about income tax return form Sahaj

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 2017 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