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 :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: form 3cd :: Central Excise rule to resale the machines to a new company :: TDS :: ACCOUNTING STANDARDS :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: ACCOUNTING STANDARD :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: VAT Audit :: empanelment :: due date for vat payment
 
 
« ICAI »
 Supplementary Notification of Common Proficiency Test scheduled to be held on 18th June, 2017 (Sunday).
 Regarding Inviting application by MCA for filling of 12 posts of Technical Member in National Company Law Tribunal under Section 408 of the Companies Act, 2013
  Certificate Course on Forex and Treasury Management - forthcoming batches at Mumbai, Chennai & Noida.
 Constitution of Group for formulating the Detailed Action Plan - Ministry of Corporate Affairs
 CPE Events 20th March - 25th March 2017
 Invitation for contributions to Question Bank in respect of Information System Audit-(Assessment Test (ISA-AT) (New Syllabus)
 Reconstitution of Group for Rohini Land at Delhi
 Group to review the Terms of Reference of Infrastructure Development Committee
 Empanelment of Members to act as Observers at the Examination Centres for The Chartered Accountants Examinations May/ June 2017.
 Canada (Toronto) Chapter of ICAI launched helpline for Members interested for getting CPA Canada membership
  Regarding Empanelment of professionals having at least fifteen years of continuous practice as a Chartered Accountant with RD MCA as Mediator or Conciliator for the year 2017-2018

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 2017 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