« 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 «  ICAI plans newer accounting standards... 1144 CAs land plum jobs in two months... » Revenue dept no to sops for drug sector July, 06th 2006 n its comments on the proposed pharma policy, the revenue department has turned down a number of proposals, including end-use-based exemptions, reduction in excise duties on drugs and increase in the SSI exemption limit for the pharma sector. It has also said no to providing exemption to testing and analysis services for drugs and data processing. In a response to the draft Cabinet note on the National Pharma policy, the revenue departments tax research unit reiterated its contention that every proposal which had revenue implications needed to be vetted carefully as there was no stated policy of the government on duty adjustments to influence prices. The department has accordingly sought modifications to the draft policy. On the issue of providing fiscal incentives on a long-term basis to research and development companies (a committee under R A Mashelkar is looking at the matter separately), the department has pointed out that a number of customs duty concessions are already available for R&D projects. Since, duty structures are part of the governments fiscal policy, the department feels that sector specific proposals should not form part of policies for the development of a particular sector. Duty structures should not be used as a general instrument of any policy. The proposals for fiscal incentives should be considered at the material time, sources said.