CAclubindia News

Tax Dept to use identity-search software to prevent evasion

05 February 2008 at 20:16

Tax Dept to use identity-search software to prevent evasionThe Income Tax Department is gearing up to use identity-search technology to manage the swelling data base of taxpayers, a move that will make tax evasion difficult and bring to book habitual

Posted in Income Tax | 3540 Views

12 new services to be in tax net

05 February 2008 at 20:14

12 new services to be in tax netLower inflation may prompt a rates rise too. About a dozen new services are likely to be brought under the service tax net from fiscal 2008-09, even as the rate could be increased from 12 per cent. Last year, the gover

Posted in Service Tax | 1 comments | 16518 Views

Due dates of filing IT returns may be preponed...

05 February 2008 at 19:53

Both salaried individuals and companies i.e direct tax payers may require to file income tax returns two months in advance says the finance minister. The modification may bring the due date from 31st July to May 31st."For salaried and other individua

Posted in Income Tax | 2 comments | 8022 Views

TAX BREAKS MAY BE GRANTED TO GREEN BUILDERS: UPCOMING BUDGET

05 February 2008 at 15:58

"GOOD NEWS FOR THE GREEN BUILDERS" Tax breaks may be granted to Real estate developers constructing energy-efficient (green) buildings in the coming Budget. If the buildings meet the "green" standard, a part of the builders' c

Posted in Income Tax | 3006 Views

Exporter's in distress with centre's proposal

05 February 2008 at 13:26

EXPORTERS IN DISTRESS WITH CENTRE'S PROPOSALThe Centre proposes to request the state governments to increase the Value Added Tax(VAT) rate from 4% to 5%. This proposal has made a section of exporters a bit nervy who missed out on VAT refunds from se

Posted in VAT | 5505 Views

E-cheques to Pace up Clearance

05 February 2008 at 13:08

E-cheques to Pace up Clearance"Get a cheque cleared in one day" This is not an illusion.In Mumbai, Faster clearance will soon be possible by using an e-cheque, which is an image of the real one. Cheques will not have to be physically moved from

Posted in Others | 3816 Views

New President & New Vice President

05 February 2008 at 13:08

Mr Ved Jain has been elected as the new President,ICAI & Mr Uttam Prakash Agarwal has been elected as the new Vice President,ICAI for the year 2008-09

Posted in Others | 2 comments | 4644 Views

Extension of Time for Filing of TDS/TCS Returns

05 February 2008 at 13:03

CBDT has extended the due date for filing of quarterly statements of Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) for the quarter ending 30th September 2007 to 29th February 2008No.402/92/2006-MC (07 of 2008)Government of India / Mi

Posted in Income Tax | 1 comments | 5373 Views

Tax payment facility liberalized in calcutta

04 February 2008 at 16:28

TAX PAYMENT FACILITY LIBERALIZED IN CALCUTTA A large taxpayer unit would be initiated in Calcutta. As according to Chidambaram, company such as MRF used to pay its various taxes at around 100 places and jurisdictions across the country,which is a hin

Posted in Income Tax | 2637 Views

Service tax rate may remain unchanged

04 February 2008 at 13:43

Budget 2008is likely to spare people a hike in the service tax rate. Under considerablepressure to deliver a people-friendly Budget, the government may leave theservice tax rate unchanged, though some more services like business classdomestic air tra

Posted in Service Tax | 5031 Views