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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
Service Tax »
 Finance Ministry simplifies GST refund claim process for businesses
 Section 44 (2) of the Central Goods and Services Tax Act, 2017 read with Rule 80 of the Central Goods and Services Tax Rules, 2017
 Advance Tax 2018 benefits for salaried employees, professionals, small business, married couples, seniors, homeowners, families
 Step by Step Guide for GST Enrolment for existing Central Excise /Service Tax Assessees
 Here’s all you need to know Income tax benefits on education costs for individuals
 How to track your income tax refund status? Check out details and step by step guide
 The Central Goods And Services Tax (Amendment) aBill, 2018
 How to get registered under goods and services tax
 Service Tax can’t be Levied on Activity of Collection of VAT on behalf of Commercial Tax Dept
 Why you should worry about June 15 advance tax date
 Five reasons why you should start your investments in tax saving funds now

Give top priority to taxation issues: Experts to Narendra Modi
May, 19th 2014

The new government should accord priority to raising income tax slab, implementing Direct Taxes Code (DTC) and Goods and Services Tax (GST) with a view to give relief to common man as well as the industry, tax experts have suggested.

"The key expectation that a common man has from the new government is widening of tax slabs," said Divya Baweja Partner, Deloitte Haskins & Sells.

Baweja also pitched for raising the limit of deduction on home loans interest in case of self-occupied house property, from Rs 1.5 lakh per annum currently.

Another tax consultancy firm PwC has suggested government should make visible changes in governance and administration to restore confidence on business in the government.

"The budget announcements may include clear road map to deal with tax policy including GST, and key administrative reforms," said Rahul Garg, Leader Direct Tax, PwC India.

The Budget for 2014-15 is likely to be presented in Parliament sometime in July.

As per the current structure, there is no tax on income of up to Rs 2 lakh per annum; 10 per cent on Rs 2-5 lakh; 20 per cent on Rs 5-10 lakh and 30 per cent on income beyond Rs 10 lakh.

The Parliamentary Standing Committee on Finance headed by senior BJP leader Yashwant Sinha had proposed to raise the income tax exemption limit to up to Rs 3 lakh per annum, and thereafter tax at the rate of 10 per cent for Rs 3-10 lakh; 20 per cent for Rs 10-20 lakh and 30 per cent on annual income beyond Rs 20 lakh.

PwC India joint tax leader Ketan Dalal said the BJP manifesto makes reference to the need to deal with "tax terrorism" and a "tax policy roadmap", and there is also a reference to bringing on board all state governments in adopting GST.

"One does expect some quick steps to address concerns on this front, particularly for international investors, who have been badly impacted by a very aggressive approach, and equally aggressive interpretations," Dalal said.

The GST, which proposes to subsume all indirect taxes like excise and service tax, has been opposed by several states including BJP ruled Gujarat and Madhya Pradesh. A constitutional amendment bill to introduce GST in the country is pending in Parliament since 2010.

Referring to the concerns of foreign investors, Deloitte managing Partner M Lakshminarayanan said: "Transfer pricing has been a major area of concern for a large number of MNCs operating in India. The new

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Internet Marketing Website Marketing Internet Promotion Internet Marketing India Website Marketing India Internet Promotion India Internet Marketing Consultancy Website Marketing Consulta

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