Latest Expert Exchange Queries

GST Demo Service software link:
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft
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: due date for vat payment :: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT :: Central Excise rule to resale the machines to a new company :: cpt :: form 3cd :: empanelment :: VAT RATES :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: TDS :: list of goods taxed at 4%
« News Headlines »
 How to file income tax returns online without having Form 16 in 10 simple steps
 Deadline For Filing Income Tax Return (ITR) Is Just 11 Days Away: 10 Latest Details To Know
  10 incomes you need not pay any tax on
 How To File Income Tax Returns In Three Steps By March 31, 2018
 10 things about income tax every taxpayer should know
 What to do if your TDS is not deposited with the government
 What if you forget to verify your Income Tax return?
 TDS on rent and other tax tasks to complete before March 31
 5 income tax changes which will come into effect from April 1, 2018
 Why you shouldn't be a last-minute tax filer
 How to calculate income tax for this assessment year on Moneycontrol

Govt to roll out simpler tax rules
September, 09th 2006
The government could combine income tax, fringe benefit tax and wealth tax into one code Direct Taxes Code Bill, 06 when a new income tax law will roll out in 08, as a part of the initiative to make taxation laws simpler and people friendly. The Central Board of Direct Taxes on Thursday submitted a report on simplifying the Income Tax Act, 1961 to finance minister P Chidambaram. The salient features of the report are bringing together the income tax, fringe benefit tax and wealth tax, replacing the concept of previous year and assessment year with financial year and replacing legalese with simple language. This report is an exercise of the future and is not aimed at amending the existing Income Tax Act, 1961. It is about a brand new income tax Act, which if all goes well, will come into force from April 1, 08, that is for assessments made in 09-10, Mr Chidambaram said. He said the new Act will hopefully come into force from April 08, subject to Parliament approving it well in time. The report has done away with all provisos and explanations present in the existing law. These have been incorporated in the main provision. All redundant provisions have been removed from the statute besides, removing anomalies and inconsistencies to enable easy implementation and compliance. Various provisions common for all direct taxes, relating to tax administration and procedures have been combined. The finance minister had announced in his budget speech of 05 that the Income Tax Act, 1961 would be simplified and a new bill would be introduced in Parliament. A group of officials from the CBDT was then constituted to simplify and rationalise the law relating to income tax. The officials carried out an extensive review of the existing provisions in the income-tax and wealth-tax codes with inputs from various sources and formulated the new direct-tax code. After internal examination and assessments, the report may be placed for comments from public and then sent to a select committee.
Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 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