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: empanelment :: Central Excise rule to resale the machines to a new company :: VAT Audit :: ACCOUNTING STANDARDS :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: form 3cd :: articles on VAT and GST in India :: TDS :: due date for vat payment
 
 
Direct Tax »
 CBDT notifies new scrutiny notices with e-facility for taxpayers
 GST is a transformational business process reform. All companies will have to change
 GST Council relaxes return filing rules for July-Aug
 Here's how self-employed individual can file tax return with ITR4
 CBDT mulling new system of jurisdiction-free I-T assessment to curb corruption
 CBDT draft notice on computing tax liability of foreign firms
 CBDT forms task force for jurisdiction-free income tax assessment system
 Aadhaar must for filing returns from July 1: CBDT
 Aadhaar mandatory for filing I-T returns and obtaining new PAN card from July 1: CBDT
 Central Board of Direct Taxes cuts profit margin for safe harbour rules
 What is TDS and how does it work?

Remove provisions impacting industry from draft DTC: SDA
July, 01st 2010

Surat Diamond Association (SDA) has made a representation asking for the removal of certain provisions, which are likely to create a big impact on the gems and jewellery sector, from the draft Direct Tax Code (DTC).

SDA office-bearers, who met the chief commissioner of income tax (I-T) Jaswant Singh on Tuesday and made a representation saying that the concerned provisions in draft DTC are likely to bring disastrous consequences for the diamond industry, which is one of the two most important industries of Surat and a major contributor to the national GDP and foreign exchange basket. The commissioner has been requested to make the recommendation to the Union ministry of finance.

The industry leaders said the section 139(2)(f) in the draft DTC gives wide powers to the investigating officer to seize stock-in-trade such as bullion, precious and semi-precious stones and jewellery. The stocks of precious and semi-precious stones are valued in crores, and if on any information or suspicion the stocks of the enterprise concerned are seized by the department, the situation could amount to shutting down of the unit.

SDA president Rohit Mehta said, "We have already made a representation to the Union finance minister during his visit to the city this month. We want the I-T department to recommend the removal of such provisions from the draft DTC as well."

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Publishing Management System PMS News Management System Publishing Management System Development Online News Management System for media company custom Publishing management system development Survey management system Market Res

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