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: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: ACCOUNTING STANDARD :: VAT Audit :: list of goods taxed at 4% :: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: empanelment :: due date for vat payment :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: TDS
« General »
 Number of companies paying tax over Rs 100 crore declines in 2013-14
 Tax and the dilemma of the self-employed
 Banks warn share tax hike threatens Paris' post-Brexit appeal
 PMC may decide on property tax rebate for IT firms this week
 I-T Dept is giving out certificates of appreciation. Have you received yours?
 Government works on ironing out benefits refund mechanism for exportersa
  Tax officials are using an IDS provision to question transactions beyond six-year-limit
 Tax-free bonds rally like midcap funds
 Senior citizens do not have to pay advance tax on salary and interest income
 GST: Audit commissioners to get adjudication powers
 Interest on NRE rupee account can be exempt from tax under FEMA

Kerala finance panel for rationalizing tax rates, fee structures
September, 21st 2015

The fifth state finance commission said that the avenues for revenue mobilization of civic bodies should be strengthened by revising tax rates and fees charged by the local bodies and they should be given freedom to carry out those projects.

After eliciting the views of the political parties here on Saturday, the commission chairman B A Prakash said that the rates of taxes and other fees collected on various services by local self-government institutions had been untouched for the past 25 years and steps to should be taken to rationalize the rate of taxes and fees structures.

Representatives of various political parties including the Congress and the CPM shared their views with the commission on devolution of funds to local bodies that would be considered by the commission before finalizing its report. "Many party representatives were of the opinion that professionals and traders who are now out of the tax net should be brought in," said B A Prakash.

Prakash said that commission would submit the first part of the report with regard to devolution of funds in December, so that government could incorporate its recommendations in the budget for 2015-16. "The commission is of the view that there should be a periodical revision of taxes and fees charged by local bodies at least once in five years," he said. The chairman added that this was one of the main suggestions put forward by representatives of major political parties in Saturday's meeting.

He said that the political parties also wanted freedom for civic bodies to implement development projects, and the commission also agreed with this.

In its recommendations before the Commission, the Congress, represented by MLA V D Satheesan and Johnson Abraham, said that the commission should recommend that maintenance funds that were sanctioned for the local bodies for asset maintenance should be given only after proper verification and it should also be ensured that such funds were only used for the purpose. In addition, the party also requested the commission to increase the road maintenance grants for local bodies. The party also requested the commission to recommend the government to increase the honorarium for the elected local body representatives.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Outsourcing Test Solutions Software Testing Software Bug Testing Software Issues Tracking Software Issue Fix Software Code Optimization Database Design Optimization

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