CAclubindia News

Robust growth in direct tax collection

19 June 2008 at 11:03

Net direct tax collections in the first two months of the present fiscal stood at Rs.22,840 crore, up from Rs.13,335 crore, registering a growth of 71.28 percent. Growth in Corporate Taxes was 68.05 percent (Rs.8,126 crore as against Rs.4,835 crore),

Posted in Income Tax | 4314 Views

Recommendation of task force on judicial impact assessment

18 June 2008 at 17:03

The Task Force constituted by Government to study the feasibility of Judicial Impact Assessment in India under chairmanship of Shri Justice M. Jagannadaha Rao has submitted its report to the Minister of Law and Justice, Shri H. R. Bharadwaj today. Th

Posted in Others | 5751 Views

Amount of Custom,excise and service tax collected by government

17 June 2008 at 18:29

Placed below is the provisional Customs & Central Excise Revenue collection for the month of May 2008 , Service Tax revenue collection for the month of April, 2008 along with the comparative data for the corresponding period of the previous

Posted in Service Tax | 5670 Views

If you can help it, pay your tax online

17 June 2008 at 11:52

The process obviates a visit to the CA and the long queues at the bank and the tax office, Online filing of income tax appears to have caught on since the shift from Saral to the Indian Income Tax

Posted in Income Tax | 7629 Views

RBI Drafts Norms On Mobile Payment For Banks

16 June 2008 at 17:07

The Reserve Bank of India has issued draft guidelines on mobile paymentsMobile Payment has been defined as information exchange between a bank and its customers for financial transactions through the use of mobile phones. Mobile payment involves debi

Posted in Others | 3636 Views

Excise levy on large cars baffling

16 June 2008 at 12:54

The government's move to impose heavier excise duty on large cars and utility-vehicles is baffling especially when it comes barely ten days since fuel prices were hiked.

Posted in Excise | 4944 Views

Is India Inc ready for IFRS?

14 June 2008 at 11:39

India is among 150-odd countries that have decided to adopt IFRS from 2011 onwards, Come 2011 and India Inc will experience drastic changes in the way financial statements are reported.

Posted in Accounts | 11286 Views

Area based excise duty exemptions modified

12 June 2008 at 12:14

With effect from 1st April, 2008 the Central Government amended the area based excise duty exemptions applicable to units located in Jammu & Kashmir, North-East, Sikkim and Kutch District of Gujarat so as to allow refund of excise duty based upon

Posted in Excise | 11460 Views

Invitation for empanelment as auditors

11 June 2008 at 12:14

ICAI - Announcement MCA Circular no. OI/Estt/Adv. dated 22nd May 2008 inviting Chartered Accountants to be empanelled as AuditorsThe Ministry of Corporate Affairs has issued Circular inviting Chartered Accountants to be empanelled as Auditors in

Posted in Audit | 1 comments | 21963 Views

Sales tax notices hit real estate

11 June 2008 at 12:14

The notices issued by the sales tax department on “work contract tax” have sent the real estate industry into a tizzy. A representation of city builders will meet the finance secretary on Wednesday

Posted in VAT | 6 comments | 28350 Views