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: list of goods taxed at 4% :: empanelment :: ACCOUNTING STANDARD :: cpt :: due date for vat payment :: articles on VAT and GST in India :: TDS :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: form 3cd :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: Central Excise rule to resale the machines to a new company
 
 
Direct Tax »
 Government sets up a panel to draft new direct tax law
 High court judges, experts brainstorm on likely GST litigations
 Businesses need not deduct GST on advances received for goods supply: CBEC
 Redress taxpayers' grievances on priority: CBDT to I-T department
 No tax relief on EPF interest if not employed: ITAT
  CBDT signs 7 more unilateral APAs with taxpayers
 Income tax returns (ITR) filing: Get capital gains tax exemption on new property; here is how
 Reach out to non-filers of GST returns: CBEC to fields offices
 CBDT may shelve plan to seek corporate tax estimates in advance
 IT expertise at banks' board level a must, says RBI ED
 Clarification on Indirect Transfer provisions in case of redemption of share or interest outside India under the Income-tax Act, 1961

Direct taxes code bill to be introduced in monsoon session: Chidambaram
July, 17th 2013

The government will introduce the official amendments to the Direct Taxes Code (DTC) bill, seeking to overhaul the over 50-year old income tax law, towards the end of the Monsoon session of Parliament.

The session will be held from August 5 to 30.

The DTC bill was introduced in the Lok Sabha in 2010 and Standing Committee on Finance has given a report after its scrutiny.

Finance Minister P Chidambaram on Tuesday said: "The report (of the panel) has come. I completed the exercise in the Ministry of Finance. The official amendments are now being drafted. They will be ready and I will introduce the official amendments in the Parliament towards the end of the Monsoon session and then it is for Parliament to pass it."

The minister said the DTC has gone through entire legislative process except passage in Parliament. "I think we have done our homework and Parliament will pass it".

The DTC aims to rationalise tax rates to bring more people and companies under the tax net.

Among other things, the Standing Committee had suggested raising the income tax exemption limit to Rs 3 lakh as against Rs 2 lakh proposed in the DTC Bill, 2010.

On the proposed Goods and Services Tax (GST), Chidambaram said "one or two state governments" are opposing it.

The Empowered Committee of State Finance Ministers, he said, is working hard on the GST and by-and-large all of them are very supportive.

"The Constitution amendment bill is being drafted. It is being placed before the Council of Ministers (on July 22). Then the GST bill is to be drafted. It will be placed before them," Chidambaram said, adding the two would be placed in Parliament after they are ready.

The GST bill, introduced in Parliament in 2010, is being vetted by the Standing Committee on Finance. After the committee submits its report, the states and the Centre would together to finalise the draft and bring it back to Parliament.

The proposed GST will bring in a common tax regime for goods and services by subsuming most indirect taxes, and is expected to help increase revenue mop ups.

The GST roll out has missed several deadlines on account of differences over contentious issue of Central Sales Tax, compensation and design of the GST structure between the states and the Centre.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Wholesale Silver Jewelry

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