Community & General News
Direct and Indirect Tax Proposals to Yield Rs. 18,000 Crore
28 February 2013 at 13:51Direct and Indirect Tax Proposals to Yield Rs. 18,000 Crore; Tax Administration Reforms Commission to be set up; Tobacco Products, SUVs and Mobile Phones to Cost More The General Budget reiterates that clarity in tax laws, a stable tax regime, a
Parity in Taxation between IDF - Mutual Fund and IDF-NBFC
28 February 2013 at 13:47The Finance Bill 2013 proposes to provide parity in taxation between an IDF-Mutual Fund that distributes income and an IDF-NBFC that pays interest when the payment is made to a non-resident. Presenting the Union Budget in the Lok Sabha today, the
Securitisation Trust to be Exempted from Income Tax
28 February 2013 at 13:46The Finance Bill 2013 proposes to exempt the Securitisation Trust from Income Tax. Presenting the Union Budget in the Lok Sabha today, the Finance Minister Shri P.Chidambaram said that this will facilititate the financial institutions to securitis
Doing Business in India to be Made Easy and Mutually Beneficial
28 February 2013 at 13:4612th Plan Projects Investment of Rs 55,00,000 Crore in Infrastructure While presenting the Budget for 2013-14 , the Finance Minister , Shri P. Chidambaram Said that the growth rate of an economy is correlated with the investment rate. The key to
Rate of Tax on Investment Made through a Designated Bank Account in Rupee Dominated Long Term Infrastructure Bonds Reduced
28 February 2013 at 13:43The Finance Bill 2013-14 proposes reduction of tax on interest in respect of investment made through a designated bank account in Rupee dominated long term infrastructure bond from 20 percent to 5 percent. Presenting the Union Budget in the Lok Sabh
Benefit under Section 80-D of the Income Tax Act for CGHS Extended to Similar Schemes of the Central Government and State Governments
28 February 2013 at 13:42The Finance Bill 2013 proposes extension of benefits under Section 80-D of the Income Tax Act to such schemes of the Central Govt and State Govts that are similar to Central Govt. Health Scheme(CGHS). Presenting the Union Budget in the Lok Sabha t
Two More Services included in the Negative list for Service Tax
28 February 2013 at 13:42‘Voluntary Compliance Encouragement Scheme’ Proposed to Motivate Defaulters to File Service tax Returns and Pay Dues All Air Conditioned Restaurants to Come under Service Tax Net To motivate about 10 lakh of those registered assess
Need for Increasing The Tax GDP Ratio
28 February 2013 at 13:38Presenting the Union Budget in the Parliament today, the Finance Minister Shri P.Chidambaram underlined the need for increasing the Tax GDP ratio. The Finance Minister said that in FY 2011-12, the Tax GDP ratio was 5.5 percent for direct taxes and
Clarity in Tax Laws, Stable Tax Regime, Non-Adversarial Tax Administration, Dispute Resolution and Independent Judiciary - The Theme of Tax Proposals
28 February 2013 at 13:38Presenting the Union Budget in the Parliament today, the Finance Minister Shri P.Chidambaram underlined the theme of the tax proposals to be based on the following parameters:- • Clarity in tax laws. • Stable tax regime. • Non
Customs Duty on Imported Luxery Goods Such as high End Motor Vehicles, Motorcycles, etc. Increased
28 February 2013 at 13:36However, Environment-Friendly Vehicles given benefit of Extended Period of Concession Aircraft Manufacture, Repair and Overhaul Industry also given Certain Concessions Duty free limit for Bringing Jewellery by Elligible Passengers increased The cu
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