Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get 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) | 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
 
 
 
 
Popular Search: Central Excise rule to resale the machines to a new company :: VAT RATES :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit :: cpt :: TDS :: list of goods taxed at 4% :: ACCOUNTING STANDARD
 
 
Direct Tax »
 Tax liability on taxable income: Clarification from CBDT is a must
 Income Tax Returns (ITR) filing for salaried staff, others: Advance tax payment deadline nearing, pay or face penalty
 To avoid extra TDS, give tax-saving proofs
 TDS on Rent under section 194I of Income Tax Act
 New direct taxes code aims for lower rates, wider base
 Towards a new direct tax system
 Central Board of Direct Taxes (CBDT) signs two Indian Advance Pricing Agreements (APAs) in November, 2017
 CBDT asks I-T to slap higher tax rate on fraudulently revised ITRs
 CBDT to accept transfer pricing MAP sans riders
 CBDT relaxes norms for MAP & APAs
 CBDT directs I-T Dept to closely examine all revised ITRs filed after demonetisation

Direct tax code helps taxpayers: expert
July, 12th 2010

The proposed direct tax code announced recently by the finance minister, which will be effective from April 2011, aims at a comprehensive reform in the sphere of personal and corporate taxation, according to G Ramaswamy, vice-president of Institute of Chartered Accountants of India (ICAI).

Speaking to reporters here on Saturday, he said: "There is a great difference between code and the act. The government is trying to replace direct tax code with the present system of Tax Under Finance Act."

The code would be a permanent affair like CrPC or IPC. Once the tax act is converted into a code, it would generally not be necessary to introduce changes every year along with budget. This is a reform which the government wants to bring in for the good of the people, he said.

The code has proposed no change in the exemption limit of personal tax. It remains Rs 1,60,000 for men Rs 1,90,000 for women, and Rs 2,40,000 for senior citizens.

To a query, Ramaswamy said the direct tax code is the simplified version of paying various kinds of income taxes.

Referring to the Foreign Exchange Management Act (FEMA), he said the main objective behind FEMA is to consolidate and amend the law relating to foreign exchange. "FEMA is applicable to all parts of India. It is also applicable to all branches, offices and agencies outside India owned or controlled by a person who is a resident of India," he added.

There are nearly 1.65 lakh chartered accountants (CAs) in India and nearly 6.5 lakh students have enrolled for the CA course, he said.

Referring to the activities taken up by the Hubli unit of ICAI, Ramaswamy said a centre has been opened for CA coaching. After the completion of the three-year course, campus interview will be conducted to provide employment for the candidates.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
SEO Company Search Engine Optimization Company US SEO Local SEO Company Website SEO Company Alabama SEO Company Alaska SEO Company Arizona SEO Company Arkansas SEO Company California SEO Company Colorado SEO Company Connecticut SEO Company Delawa

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