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 INPUT TAX CREDIT IN VAT :: VAT Audit :: articles on VAT and GST in India :: ACCOUNTING STANDARD :: cpt :: Central Excise rule to resale the machines to a new company :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: form 3cd :: ACCOUNTING STANDARDS :: due date for vat payment :: TDS
 
 
Direct Tax »
 Hopeful of meeting direct tax collection target for this financial year: CBDT
 Bengaluru tops in income tax probes after demonetisation
 Income Tax department rejects black money disclosures of over Rs 2 lakh crore
 CBDT urges people to protect bank accounts from 'unscrupulous elements'
 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

Mukherjee said that retrospective amendments to the Income
May, 08th 2012

Tax Act will not be used to reopen cases where assessment orders have already been finalised. "I have asked the Central Board of Direct taxes to issue a policy circular to clearly state this position after passage of the Finance Bill," he said. The government had earlier said that under the Income Act, the revenue department cannot reopen cases of beyond six years.

The Minister also announced that long term capital gains tax for private equity investors, domestic and foreign, will be halved to 10 per cent as is applicable for Foreign Institutional Investors (FIIs). Earlier, it was 20 per cent. In order to provide depth to the capital markets through listing of companies, the Minister proposed to extend the benefit of tax exemption on long term capital gains to the sale of unlisted securities in an initial public offer. "I propose to provide the levy of Securities Transaction Tax (STT) at the rate of 0.2 per cent on such sale of unlisted securities," he said. As regards the levy one per cent Tax Deduction at Source (TDS) on transferee of immovable property (other than agricultural land),

Mukherjee announced withdrawal of the budget proposal in view representation received from different stakeholders that the move would enhance compliance burden. On the controversial and harsh proposal of making certain offences under the customs and central excise laws as cognisable and non-bailable, the Minister said, "In response to concerns expressed by members that the proposal regarding grant of bail only after hearing the public prosecutor is too harsh, I propose to omit this provision entirely. "In addition, only serious offences under the customs law involving prohibited goods or duty evasion exceeding Rs 50 lakh, shall be cognisable. However, all these offences shall be bailable," he said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
E-catalogue online catalogue E-brochure online brochure online product catalogue online product catalogue e-catalogue Indi

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