Latest Expert Exchange Queries

Make 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) | 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: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARDS :: list of goods taxed at 4% :: VAT RATES :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: TDS :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: empanelment :: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: form 3cd :: cpt :: ACCOUNTING STANDARD
 
 
« Direct Tax »
 CBDT: GST not to be added for TDS computation
 Five interest incomes you are likely to forget to include in your tax return
 GST not to be added for TDS computation
 GST not to be added for TDS computation
 Income Tax Return (ITR) Filing: Common Mistakes That Could Get You A Tax Notice
 Income Tax department asks tax practitioners to register entities separately
 Last Date To File Income Tax Return. Here Are The Details
 New tax regime will deliver a mixed bag with some items turning costly
 New members at CBEC, CBDT
 CBDT signs 5 more unilateral advance pricing agreements with taxpayers
 Find out potential taxpayers; focus on smaller cities: CBDT to taxmen

FM to unveil direct tax code today
August, 12th 2009

Countrys direct tax laws are all set to become saral for taxpayers. The government would on Wednesday unveil the new Direct Tax Code that seeks to simplify and rationalise the tax provisions.

Finance minister Pranab Mukherjee will release a draft of the code and a discussion paper in the presence of home minister and former finance minister P Chidambaram, who initiated work on it during his tenure.

The new code that aims to change the face of how direct taxes in the country will replace the current Income-tax Act that was enacted about 50 years ago in 1961.

It would provide for tax calculatorsallowing taxpayers to calculate their own taxes, explain a tax provision in simple language.

One such case is to do with charities, which have in the past run into litigations because of the various interpretations of the rules. It could attempt to rationalise tax rules for charities that allow exemptions under a slew of provisions in the Income Tax Act.

Experts say the new code is likely to simplify the rules so that they become transparent and easily understood by both the tax collector and the tax payer in this category. The proposed tax code is also expected to include new measures to prevent abuse of some special bilateral taxation treaties between India and some nations.

The double taxation avoidance treaty, as it is known in technical parlance, allows taxpayers to pay a tax on their income only in one of the two countries which have signed the agreement.

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

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