« Top Headlines » Open DEMAT Account in 24 hrs  Mock Test Papers Series - I & II for Students appearing in CA Foundation January 2027 Examination.  Income Tax Rules 2026: CBDT Introduces Revised Form 161 for Penalty Waiver, Clarifies Misreporting Categories and Taxpayer Relief  ITR Filing and Income Tax Audit Deadline Extended: 5 Critical Things Taxpayers Must Know  Filing Belated ITR for AY 2026-27? Know Which Losses You Can Carry Forward and Which You May Lose  CBDT Extends Tax Audit Report Deadline to October 21, ITR Filing Last Date to November 21 for AY 2026-27  CBDT Extends AY 2026-27 ITR Filing Deadline for Tax-Audit Cases: New Dates and Key Compliance Details  Foreign Assets Missing From Your ITR? Income Tax Department Opens One-Time Disclosure Window  Tax Audit Deadline September 30: Why AIS, TDS and GST Figures May Not Match Your ITR and What Taxpayers Should Do  Tax audit deadline September 30: Common mistakes taxpayers should avoid  Your ITR says ‘verified’, but the refund hasn’t arrived? 5 reasons why your money could be stuck  Missed the ITR Deadline but TDS Refund Is Due? Here’s How You Can Still Claim Your Money «  Tax sops to SEZs to cost over Rs 1000 bn: FM... Govt not for tax rate hike, base expansion on anvil... » Government to widen tax base November, 27th 2006 INDIA ECONOMIC SUMMIT 2006   The government has also asked ICRIER and NIPFP to do a study on tax exemptions, says Revenue Secretary K M Chandrasekhar.    The government is working towards widening the tax base in the country and looking at tax exemptions from the financial year 2007-08.    "There may be some case for lowering of indirect taxes and spreading the taxation base evenly, while ensuring that the interest of all sections are safeguarded," said revenue secretary K M Chandrasekhar on the sidelines of the India Economic Summit 2006.    The Indian Council for Research on International Economic Relations (ICRIER), along with the National Institute of Public Finance and Policy (NIPFP), is doing a study on tax exemptions.    Further, a team of tax department officials, in conjunction with the Institute of Chartered Accountants of India (ICAI) are looking at the Income Tax law, added Chandrasekhar.    Earlier, speaking at a session on India's competitiveness an growth prospects, Chandrasekhar said that the country needs to allocate funds for the development of physical and social infrastructure in a way that reduces regional imbalances.    "There is a huge divide between the level of social and economic development between different states," he said, adding that the Twelfth Finance Commission has recommended a higher allocation for developing social infrastructure in backward states.    Further, the Department of Industrial Policy and Promotion (DIPP) is working on evolving a policy for the North-Eastern states that would focus on investment in these states.    In his comments, Rajiv Kumar, chief executive officer of ICRIER, said: "It is appreciable that the centre of action has moved from the Union to the states and the latter are now trying their best to attract huge investments by offering conducive infrastructure and tax incentives."    "States like Uttaranchal and Himachal Pradesh are emerging as states with huge investment potential. These could be a case for study by other states," said Sunil Kant Munjal, chairman of Hero Corporate Service.