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 :: VAT RATES :: cpt :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: form 3cd :: list of goods taxed at 4% :: TDS :: ACCOUNTING STANDARDS :: ACCOUNTING STANDARD :: due date for vat payment
 
 
News Headlines »
 Income-tax (21st Amendment) Rules, 2017
 Deadline for filing income tax return nears; here are 10 common mistakes that you must avoid
 All you need to know about form 26AS
 How to file income tax return?
 7 changes that affect income tax return filing this year
 How To File Income Tax Return (ITR) Online For FY2016-17? Last Date July 31
 Last date for filing income tax return approaches: What is Form 26AS? How it can help you claim refunds
 Income Tax department to launch mobile app to make life easy for taxpayers
 6 things to remember while filing your income tax return
 Want to save on tax? Here are deductions you can use while filing ITR
 July 31 Is Last Date For Filing Tax Return. Why Form 26AS Has To Be Checked

I-T is ready to pamper the crorepatis
September, 12th 2006
Come October 1 and instead of dull old buildings, swanky tax offices would welcome corporates when the first large tax payer unit (LTU) rolls out in Bangalore. The one-stop shop for large taxpayers who pay more than Rs 10 crore in corporate tax and Rs 5 crore in excise or service tax through the personal ledger account in 04-05 would be greeted by dedicated hip-hop executives in the LTUs. One dedicated officer would function as a point-of-contact for the corporate just as it is done in advertising agencies where an account executive handles all matters of the client he looks after. Similarly, just as an account executive interacts with other departments depending on the problem faced by the corporate, the dedicated tax official will guide the company in all tax issues it may face. The LTU concept is part of the finance ministrys plans to provide a hassle-free atmosphere for India Inc to discharge their tax obligations, and in the process encourage a higher rate of compliance. Also, when a corporate signs up for LTU, all its units, irrespective of their location, would have the facility to file their returns at one place. The only exception would be in cases involving central excise, where certain functions involving physical presence of the department would continue to be performed by the local tax commissionerates, as a measure of facilitation to the trade. As per the rules that have been run in, only those companies can join an LTU, which are at present assessed for income and corporate tax in any of the five cities of Delhi, Bangalore, Chennai, Mumbai and Kolkata. So far 33 corporates have signed up for Bangalore, though the response has been lukewarm in Mumbai. The finance ministry may bring about certain changes in the excise rules to facilitate the transfer of excess excise or service tax credit of a taxpayer from one of his unit to another. Coinciding with the roll out of the first LTU, the automation of the central excise and service tax department will also be initiated.
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Development Software Programming Software Engineering Custom Software Development Requirement Based Software Development Software Solutions Software Serv

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