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: list of goods taxed at 4% :: VAT RATES :: empanelment :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: Central Excise rule to resale the machines to a new company :: cpt :: ACCOUNTING STANDARD :: VAT Audit :: due date for vat payment :: articles on VAT and GST in India
 
 
« General »
 Companies should invest in upgradation of tax technology
 Top House tax writer suggests measures to mitigate the impact of the border tax
 Consumer goods distributors, wholesalers to bear the brunt of GST
 GST classification woes to continue
 There will be no tax on farm or agriculture income
 RBI, Income Tax Acts to be amended for electoral bonds, Jaitley says
  Clarifications on the Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016
 I-T zeroes in on Mumbai trader in first crackdown after demonetisation
  Tax queries answered by Dilip Lakhani, Senior Chartered Accountant
 Income Tax Department Failed To Unearth Black Money Despite Information
 Govt filing twice as many cases as private cos in Supreme Court

Tax relief on bad loan provisioning
March, 01st 2016

The finance minister has attempted to present a Budget that will give impetus to the agriculture sector while maintaining fiscal discipline.

The Budget initiatives address the needs of the agriculture and rural sectors: The emphasis given to irrigation, soil health, increased use of organic fertilisers and developing a unified agriculture marketing e-platform are steps in the right direction. The reduced excise duty on micronutrients will help its wider application. The creation of the dedicated irrigation fund with an initial corpus of Rs 20,000 crore will help increase the overall area under irrigation over the long term.

The increased allocation to MGNREGA and the announcement of Rs 5,500 crore under the PM Fasal Bima Yojna are welcome moves. The government is also piloting the direct benefit transfer for fertiliser to curb leakage. However, the much-anticipated demand of increasing urea prices to help in balanced nutrient use has been given a slip.

The price stabilisation fund created earlier for sugar has been now extended to pulses. We look forward to a similar support in the coming years for other critical crops as well. The finance minister has also ensured fund availability for these schemes, through the krishi kalyan cess.

In the financial services sector, we welcome the announcement allowing tax deduction in respect of provisioning of bad and doubtful debts. We hope that the amendment of the Sarfaesi Act and the bankruptcy code will strengthen the financial services industry. We look forward to the notification of Sarfaesi Act on housing finance, announced in the last year’s Budget, to be expedited. There is continued focus on financial inclusion by the announcement of ATMs and micro ATMs in post offices.

The government’s plan to list public sector general insurance companies in stock exchanges will help strengthen the general insurance sector. The announcements for settlement of pending taxation matters will help resolve long overdue cases, and the simplified process of declaration of undisclosed income is likely to bring in new taxpayers.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - About Us

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