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: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment :: VAT Audit :: form 3cd :: VAT RATES :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARDS :: TDS :: cpt
 
 
News Headlines »
 How to claim income tax refund
 How to time your buys to have best of two tax regimes
 Here's why you must always check Form 26AS before filing tax return
 Want to file your income tax return after June 30? Having Aadhaar card is a must
 Timeline for filing of tax returns extended by two months
 Top 5 common mistakes to avoid while filing your income tax returns
 GST rollout on July 1: Deadline for filing tax returns extended
 What is GST?
 Income-tax (15th Amendment) Rules, 2017?
 Banks get a breather as GST Council extends deadline for tax filing
 Income Tax filing: Your easy guide in 7 steps

Income-tax authorities conduct raids on pulses brokers to check undue price rise
April, 22nd 2016

The Modi government is cracking the whip on pulses traders as the common man bleeds from high prices of urad, tur and chana dals. Income-tax (I-T) authorities have reportedly conducted raids on unnamed pulses brokers across Delhi, Mumbai and Madhya Pradesh on Thursday for allegedly jacking up prices and unduly profiteering from the same.

However, Ashim Kumar Modi, additional DIT (HQ), Income Tax, Mumbai, was not available to confirm the raids or the reasons till the time of going to press. A trader in Jalgaon and a broker in Delhi confirmed raids having taking place. They said the cause was to "curb" rising prices of pulses, production of which has been hampered by two successive years of drought.

ET in its edition on April 18 highlighted the impact of two failed monsoons on pulses and how the futures market was signalling increase in the prices of chana in the months ahead. In its edition on April 21, the paper ran a story on the government proposing to ask states to impose stock limits on chana and sugar to curb rising prices caused by hoarding.

According to the government's second advanced estimate for 2015-16, total pulses production has fallen short of the 20.05 million tonne target by 16%. The price of a kilogramme of gram dal in Mumbai was up by 5.5% at Rs 78/kg since the beginning of the year.

In a separate development, NCDEX raised the margin to buy chana futures by 25% in cash to 45% to curb price volatility. The margin becomes effective from Friday. It advanced the imposition of the daily 1.5% pre-expiry margin to the 27th of every month of the front month contract from the last 11days.

 
 
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