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: cpt :: form 3cd :: TDS :: ACCOUNTING STANDARDS :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: Central Excise rule to resale the machines to a new company :: VAT RATES :: empanelment :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4%
 
 
« ICAI »
 Introduction of facility for online submission of requests for issue of duplicate mark sheets/pass certificates.
 ICAI invites suggestions on revised Model GST Law
 Guidance Note on Reports in Company Prospectuses (Revised 2016) issued by the Auditing and Assurance Standards Board
 President's Message - December 2016
 Ind AS Transition Facilitation Group (ITFG) Clarification Bulletin 6
 Announcement regarding registration as an Insolvency Professional with the Indian Institute of Insolvency Professionals of ICAI
 CPE Events 28th November - 3th November 2016
 Admit Cards for CPT December 2016 Examination
 Application Form for the Information Systems Audit (ISA) Assessment Test - December, 2016 [Last Date - 7th December, 2016]
  MCA Announcement - To avoid Last Minutes rush please file the Financial Statements and Annual Returns at the earliest.
 CPE Events 21th November - 26th November 2016

ICAI - Union Budget - 2010-11
March, 03rd 2010

ICAI welcomes the Union Budget presented by the Honble Finance Minister Shri Pranab Mukherjee, which can be termed as a relief oriented budget. The Budget skillfully balances the need to step up the economic growth on one side, check inflation on the other side and also address the socio-economic needs of the nation.
 
The ICAI welcomes the liberal FDI Policy, listing of PSUs, liberal licensing policy for opening of banks and license to NBFCs to act as bank. The increase of minimum personal taxation slab of 10% up to Rs. 5.00 lacs will pave the way for better tax compliances and revenue generation for the Government. The introduction of SARAL II Form will enable the small tax payers to file their return without difficulty. The relief of Rs. 20,000/- under 80 CCE would suitably boost infrastructure sector while simultaneously providing tax relief.
The ICAI welcomes the reiteration of timelines for implementation of the Direct Tax Code and Goods & Service Tax w.e.f. 1st April, 2011.

The Budget has given some thrust to conversion into LLP without attracting Capital Gains Tax. However, the restrictions and preconditions may be reviewed to provide full benefit to the conversion of such entities.

The marginal reduction of surcharge will give relief to corporates and partially offset the increase in MAT Tax from 15% to 18%.

The thrust given on research and development by enhancing the weighted deduction is welcome since it will boost research activity.

Relief has been given to the Real Estate Sector by extending period of the 80 I(B) benefits and rationalization of some of these conditions alongwith all other pending projects issues may be considered for the expected relief.

Removal of genuine hardships in areas of TDS (such as S-40(a)(ia) disallowance) is welcome.

Rationalization in areas of small charitable trusts and role of settlement commission is also a welcome move to reduce the litigation.
 
Indirect Tax
The increase in Central Excise Rates by 2% would augment tax revenues while bringing convergence with GST rates.

Procedural reforms in placing reliance on CAs certificates for input credits, amendment in demand provision would reduce litigation and give widespread relief.

Expansion of coverage, especially in health sector and retrospective amendment regarding renting of immovable properties and training may require reconsideration.
 
ICAI is glad that the Government has accepted the suggestions forwarded by the Institute in different areas. 

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Sitemap

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