Latest Expert Exchange Queries

Make 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) | 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 INPUT TAX CREDIT IN VAT :: empanelment :: TDS :: due date for vat payment :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: cpt :: list of goods taxed at 4% :: VAT Audit :: articles on VAT and GST in India :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: TAX RATES - GOODS TAXABLE @ 4%
 
 
Direct Tax »
 CBDT comes out with clarification on MAT for Ind AS companies
 No penalty for late ITR this year but here are 4 important reasons to file it in time
 12% growth in income tax collection
 CBDT gameplan to enhance TDS collection
 Don't curry political favours for transfers, CBDT tells taxmen
 CBDT: GST not to be added for TDS computation
 Five interest incomes you are likely to forget to include in your tax return
 GST not to be added for TDS computation
 GST not to be added for TDS computation
 Income Tax Return (ITR) Filing: Common Mistakes That Could Get You A Tax Notice
 Income Tax department asks tax practitioners to register entities separately

Cabinet nod for income tax dept ombudsman
May, 03rd 2012
The Cabinet today cleared the setting up of an ombudsman in the income tax department. The ombudsman will look into complaints on the issue of refunds and delay in allotment of Permanent Account Numbers.
 
The ombudsman, set up on the recommendations of the Kelkar task force on direct taxes, will also look into delays in releasing of seized books of accounts and assets to assesses after an income tax search and seizure operation.
 
The proposal, cleared by the Cabinet today, envisages that there will be an ombudsman in each of the four metros to start with.
 
The Cabinet also cleared amendments to the Forward Contracts (Regulation) Amendment Bill to enhance the quantum of punishment for players in the commodity market.
 
The Cabinet also gave its approval for the enhancement of the age of retirement of scientists working in Indian Council of Agricultural Research and teachers of state and central agricultural universities to 62 years from 60.

According to the Cabinet decision, the ombudsman shall be a retired additional secretary level officer at the Centre from either Indian Audit & Account Service, Indian Revenue Service, Indian Customs & Central Excise Service or Indian Legal Service.
 
He can also be a retired judge of any court and can hold the post till 65 years of age.
 
The ombudsman can seek an explanation from tax officials for complaints received from tax payers and also suggest remedial measures for the grievances. This would include protecting the rights of the individual tax payer including reducing his tax burden.
 
He will also identify those issues which increase the tax compliance burden and refer them to the finance ministry. In his annual report, he will review the quality of tax administration and make legislative and administrative recommendations to improve them.
 
Under the amendments to the Forward Contracts (Regulation) Amendment Bill, the Cabinet has sharply increased the punishment up to Rs 25 lakh from Rs 1,000 at present this is as per the recommendations of the Parliamentary Standing Committee on Food, Civil Supplies and Public distribution.
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Portfolio

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