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: articles on VAT and GST in India :: TDS :: due date for vat payment :: ACCOUNTING STANDARD :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: list of goods taxed at 4% :: VAT Audit :: Central Excise rule to resale the machines to a new company :: cpt :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES
Direct Tax »
 Salaried taxpayers to get SMS alerts for TDS deductions
 Salaried tax payers to get SMS alerts on TDS deductions
 Mumbai zone direct tax collection flat in H1 FY17
 CBDT issues final rules for taxing share buy back by companies
 CBDT issues final rules for taxing share-buyback
 The direct tax collections up to September, 2016 are at Rs. 3.27 lakh crore which is 8.95% more than the net collections for the corresponding period last year.
 IDS is tremendous success: CBDT chief Rani Singh Nair
 Submit monthly data of appeals disposed of: CBDT to officers
 Direct tax mop-up jumps 9 per cent in H1, indirect tax up 26 per cent
 Income tax department slams notice on five Mumbai-based exporters over offshore accounts
 Redress TDS mismatch grievance of taxpayers: CBDT

FICCI seeks direct tax rate cuts
May, 14th 2009

The Federation of Indian Chambers of Commerce and Industry (FICCI) has sought reduction in corporate tax rate to 25 per cent and reintroduction of investment allowance, besides continuation of tax holiday benefits for housing, telecom and power sectors.

In their interaction with the Revenue Secretary, Mr P.V. Bhide, and other senior officials of the Finance Ministry here today, a high-powered FICCI team led by its President, Mr Harsh Pati Singhania, also called for reduction in personal income tax rate to 25 per cent to encourage consumption spending in the country.

The chamber has also in its pre-budget submissions with the Finance Ministry suggested that the maximum rate of tax should be applicable to incomes over Rs 10 lakh. Also, FICCI has suggested that the tax holiday benefit period for IT and software sector needs to be extended beyond 2010 and Section 80HHC (exemption of export profits) temporarily revived.

On the indirect tax side, Mr Singhania suggested that excise duty rate of 8 per cent and service tax at 10 per cent be continued at least till the next fiscal. Also, the peak customs duty rate of 10 per cent be retained for some more time.

The chamber has also suggested reduction in customs duty on natural rubber from the current level of 20 per cent to preferably 7.5 per cent.

Besides seeking service tax exemption on E&P sector, the chamber has suggested declared goods status for natural gas.

FICCI has also pitched for reduction in central sales tax (CST) rate from 2 per cent to one per cent and early introduction of goods and service tax (GST) regime.

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

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