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: VAT RATES :: TDS :: empanelment :: form 3cd :: VAT Audit :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARDS :: cpt :: list of goods taxed at 4% :: due date for vat payment :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: ARTICLES ON INPUT TAX CREDIT IN VAT
 
 
« News Headlines »
 What to do if you get an income tax notice after demonetisation
 SBI calls for raising income tax exemption limits
 Did you know? The tax exemption on your HRA
 Income Tax Department expands list of deposits, transactions under scrutiny
  Income-tax Act, 1961 read with Rule 114E of Income-tax Rules, 1962
 Master Directions on Access Criteria for Payment Systems
 RBI-Scheduled Bank's Statement of Position in India as on Friday, January 06, 2017 (Revised)
 3 Big Mistakes To Avoid This Tax Season
 The Top 5 Tax Stories Of 2017
 Are multiple service tax rates in the offing?
 All you need to know about claiming tax break on HRA

Condensed I-T Act from April 2008
September, 12th 2006
The bulky Income-Tax Act, which is to be replaced with a more condensed version from April 1, 2008 will be pruned substantially. The 600 sections of the present Act of 1961 are being cut to around 360 section in the new Bill. Officials said the new Bill will also incorporate direct tax rates in the Act itself. At present, the government derives its power to levy tax from the annual Finance Act. The change will ensure the government will be able to collect the tax even if tabling of the annual Finance Bill gets delayed. Under the present system, if the Finance Bill is delayed beyond February 28, the government has to submit a supplementary in order to empower itself to levy and collect the tax, a tax expert said. Officials said the new Bill has also sought to use a formula to explain the implications of a tax. Very often it is difficult to comprehend how a tax is to be calculated. Rather than explaining it through text, the new Bill has sought to explain it by using formulas, an official said. Also all references to a particular tax or provision is being clubbed at a single place. For instance, all references to the tax deduction at source will be compiled at a single place. Finance Minister P Chidambaram last week said the government will attempt to introduce the new Bill from April 1, 2008.
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Mission

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