CAclubindia News
Tax filing set to become Saral again
15 March 2007 at 22:23NEW DELHI: Here's some goods news for all you taxpayers. You won't miss Saral. The government has decided to dilute the complex Form 2F for filing income-tax returns, which the IT department had painstakingly prepared only to face universal criticism
E-filing of returns to become compulsory soon
15 March 2007 at 05:32Individual taxpayers, too, soon may have to file returns electronically.TheCentral Board of Direct taxes (CBDT) is considering a proposal to makeelectronic filing of income tax returns compulsory for certain class ofassesses. "We have taken the power
ICAI unhappy with relaxation of audit norms
15 March 2007 at 05:31The Institute of Chartered Accountants of India has taken up cudgelswith the Reserve Bank of India after the banking regulator relaxednorms and spared bank branches with less than Rs 5 crore business fromcompulsory audit.TheRBI move has huge ramifica
New course proposed by ICAI
15 March 2007 at 05:31CAI proposes new course for accounting technicians In a movethat could open up an entirely new stream in the accounting professionand create millions of jobs, the Institute of Chartered Accountants ofIndia has proposed a new course for those who cou
Pay FBT in advance
13 March 2007 at 23:25TAX payers will now have to pay FBT when they make payments for advancetax to the governments. Budget 2007-08 has aligned the due dates forpayment of FBT with advance corporate or income tax.Finance Minister P Chidambaram has proposed amendments in t
Esops too are fringe benefits, to be taxed
13 March 2007 at 23:19Companies may not be as generous with Esops since it would result in a rise in their tax expenses. Employee stock option plans (Esops) will now be brought under the purview of the fringe benefit tax (FBT). Thus,companies will now have to pay tax at f
Ministry orders e-filing of excise, service tax
13 March 2007 at 23:04After the launch of the e-filing process for income tax returns, it is now the turn of excise and service tax departments.Thefinance ministry has made it mandatory for all assessees paying exciseand service tax of Rs 50 lakh and above, to pay the tax
Government may levy income tax on dividends
13 March 2007 at 23:03Income from dividends, which is at present taxed in the hands of the companies, could soon be added to one's income and may have to shell out the applicable income tax.
Exemption - Form & Contents of Accounts
11 March 2007 at 11:42In certain situations, a company can seek exemption from therequirements of Sec. 211 of the Companies Act, 1956 relating to theForm & Content of Balance Sheet and Profit & Loss Account.Application to Central Government -Sec.211(4) provides th
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