Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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: ACCOUNTING STANDARDS :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: cpt :: VAT Audit :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TAX RATES - GOODS TAXABLE @ 4% :: form 3cd :: due date for vat payment :: TDS
 
 
From the Courts »
 M/s Fiberfill Engineers Vs. Deputy Commissioner Of Income Tax
 Commissioner Of Income Tax, Del Vs. Mrs. Tara Sinha
 Unitech Wireless (Tamil Nadu) Pvt. Ltd. Vs. Principal Commissioner Of Income Tax, New Delhi & Ors.
 Pr. Commissioner Of Income Tax – 3 Vs. Delhi State Industrial Infrastructure Development Corp. Ltd.
 CIT vs. D. K. Garg (Delhi High Court)
 The Citizens Cooperative Society Ltd vs. ACIT (Supreme Court)
 Digipro Import & Export Pvt. Ltd vs. UOI (Delhi High Court)
  CIT vs. Hindustan Petroleum Corporation Ltd (Supreme Court)
  DCIT vs. Hita Land Private Limited (ITAT Mumbai)
 GTC Industries Limited vs. ACIT (ITAT Mumbai) (Special Bench)
 Premlata Purshottam Paldiwal vs. CIT (Bombay High Court)

Rs 1 lakh crore taxman, taxpayer face-off
March, 16th 2011

The government today said over Rs 1.60 lakh crore has been locked up in disputes between the income tax department and taxpayers as on January, 2011.

"Out of the total arrears, the amount locked up in disputes between the income tax department and taxpayers as on January, 2011 is Rs 1,60,499 crore," Minister of State for Finance S S Palanimanickam said in a written reply to Rajya Sabha.

He further said various steps have been taken by the government to reduce unnecessary litigation.

These include increasing the monetary limit for filing of appeals by the income tax department before the Income Tax Appellate Tribunal (ITAT), High Court and Supreme Court.

With effect from February 9, 2011, the limits to file appeals before the ITAT, HC and SC have been increased to Rs 3 lakh, Rs 10 lakh and Rs 25 lakh from Rs 2 lakh, Rs 4 lakh and Rs 10 lakh, respectively.

"As a result, likely reduction in litigation at ITAT level is 13 per cent, and at HC and SC level 25-30 per cent," Palanimanickam added.

Besides, the Central Board of Direct Taxes along with the Directorate of Income Tax (Recovery) is monitoring the outstanding arrears of above Rs 10 crore, he said.

The CBDT fixes target for recovery of pending dues for every financial years. The target for recovery of arrears demand for the current fiscal is Rs 13,906 crore, Palanimanickam added.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Integrated Software Solutions Integrated Software Development Integrated Software Services Integrated Software Solutions India Integrated Softw

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