CAclubindia News

Computation of profits and gains of business on presumptive

07 July 2009 at 15:59

Computation of profits and gains of business on presumptive basis- Section 44ADSection 44AD prescribes a method of presumptive taxation for assessees engaged in the business of civil construction or supply of labour for civil construction in wh

Posted in Others | 11 comments | 15639 Views

Expenditure upto 35000 in cash allowed to transporter

07 July 2009 at 15:07

Expenditure made of more than 20000 in cash allowed to transporterEnhancement of limit for disallowance of expenditure made in the case of transporters Under the existing provisions of the Income-tax Act, where an assessee incurs any expenditure, in

Posted in Others | 4 comments | 31434 Views

Tax Exemption Limit increased, surcharge removed - F/y 09-10

07 July 2009 at 14:08

Tax Exemption Limit increased, surcharge removed for F/y 2009-10.The amendments have been made in the Income Tax Act by the Finance Bill, 2009 with a view to as stated in the Memorandum :(i)Lowering the burden on the individual taxpayers by inc

Posted in Others | 2 comments | 15105 Views

Rationalisation of provisions relating to TDS

07 July 2009 at 13:18

Rationalisation of provisions relating to tax deduction at source (TDS) Tax deduction at source is a method of collecting taxes on behalf of the Government at the time of payment or credit. The Income-tax Act casts a legal responsibility on the

Posted in Others | 5 comments | 17826 Views

Forward looking budget to tackle recession-ICAI

07 July 2009 at 13:06

The Union Budget 2009-10 has been presented in the backdrop of worldwide economic recession. Having got the mandate for stability and continuance of reforms, the Government has made a sincere attempt to put the rail of economic reforms back on track.

Posted in Others | 4632 Views

Introduction of Document Identification Number and facility

07 July 2009 at 12:13

Introduction of Document Identification Number and facility for electronic communicationIt is now well accepted that “tax administration is tax policy”. A tax administration designed to foster voluntarily complianceyields higher revenu

Posted in Others | 7380 Views

Enhancement of the limit for payment of wealth tax

07 July 2009 at 12:11

Enhancement of the limit for payment of wealth taxUnder the existing provisions of section 3 of the Wealth-tax Act, wealth tax is charged every year in respect of net wealth, onthe valuation date, of every individual, Hindu undivided family and co

Posted in Others | 2424 Views

FBT and Commodity Transaction tax abolished

07 July 2009 at 00:26

Fringe Benefit Tax and Commodity Transaction tax abolished NO CHANGE IN CORPORATE TAXES – MAT TO BE INCREASED TO 15% SUN-SET CLAUSES FOR DEDUCTION OF EXPORT PROFITS UNDER INCOME TAX TO BE EXTENDED BY ONE MORE YEAR DONATION TO ELECT

Posted in Others | 9 comments | 9114 Views

Key Features of Budget 2009-2010

06 July 2009 at 14:19

Key Features of Budget 2009-2010CHALLENGES* to lead economy to high GDP growth rate of 9 per cent per annum at the earliest* to deepen and broaden the agenda for inclusive development* to improve delivery mechanisms of the government. OVERVIEW O

Posted in Others | 5 comments | 18063 Views

Speech of Pranab Mukherjee Minister of Finance

06 July 2009 at 13:40

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Posted in Others | 2 comments | 5112 Views