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 :: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: due date for vat payment :: VAT Audit :: form 3cd :: VAT RATES :: ACCOUNTING STANDARDS :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: cpt :: TDS
 
 
Direct Tax »
 No change in gold seizure norms in proposed I-T Law amendments
 Direct tax collection will get a long-term boost, Franklin Templeton says
 I-T Act amendments upset calculations of cash hoarders
 Claim tax benefit on costs incurred to evict tenants
 The Integrated Goods And Services Tax Act, 2016
 Here’s what Income Tax Department did leading up to demonetisation
 I-T department asks IDS declarants to pay tax by November 30
 Cash trove tax drive dilemma
  CBDT halves Income Tax refunds issue timeline to 15 days for this fiscal
 CBDT signs four unilateral advance pricing agreements
 Central Board of Direct Taxes allowed Rs 4,500 crore of irregular benefits to infrastructure companies: CAG

Revised DTC draft by first week of June
May, 25th 2010

The finance ministry will publish a revised draft Direct Tax Code (DTC) by early-June to invite public comments.

The new code advocates that long-term savings be taxed during withdrawal and the minimum alternate tax (MAT) be computed against the gross assets of the companies concerned. Industry bodies and public reacted strongly against the proposals.

Union revenue secretary Sunil Mitra on Monday said the government will invite suggestions for 15 days on the DTC and will prepare the final draft of the new tax legislation.

By budget session, it should be law, Mr Mitra said at an interactive session organised by the Bengal National Chamber of Commerce & Industry.

The new tax code aims to simplify the income tax structure and will replace the existing Income-Tax Act. The Code will minimise exemptions, the revenue secretary said.

The government plans to introduce the code in Parliament during the monsoon session, which normally starts on July 15 every year. The government had come out with the first draft on the code in August last year.

On the proposed goods and service tax (GST) regime from April 2011, Mr Mitra said the Centre will compensate fully if states suffer a loss during the transitional period.
This means, the government may overshoot the Rs 50,000 crore compensation package suggested by the 13th Finance Commissions recommendation.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 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