CAclubindia News

India's Sensex Tops 16,000 for First Time After Fed Cuts Rates

19 September 2007 at 13:56

Sept. 19 (Bloomberg) -- India's Sensitive Index crossed 16,000 for the first time after the U.S. Federal Reserve cut its benchmark interest rate more than expected, easing concern a housing slump will drive the world's largest economy into recession.

Posted in Investments & Personal Finance | 4482 Views

NOW, SOFTWARE MAY HOLD UP TAX REFUNDS

19 September 2007 at 13:12

If you were banking on your income tax refund for 2006-07 to take care of your investment needs or meet liquidity requirements, then there is no immediate hope in sight with the government yet to develop a software to process your returns. While the

Posted in Technology & Tools | 12423 Views

NEW DIRECT TAX CODE WILL BE IMPLEMENTED SOON : SHOME

19 September 2007 at 13:11

The Union Finance Ministry in consultation with tax experts is drafting a new Direct Tax Code which was likely to be ready by October, advisor to the Finance Ministry Parthasarathi Shome said today.The main objective of drafting the new code was to m

Posted in Income Tax | 2811 Views

'GIVE BLANKET SERVICE TAX EXEMPTION TO EXPORTERS'

19 September 2007 at 13:07

It is an ideal feature of any good taxation system that in export transactions only goods or services should be exported and not the taxes embedded in it. Keeping with this principle, the government has been time and again providing incentives to exp

Posted in Service Tax | 3882 Views

I-T REFUNDS TO GO ONLINE FROM DECEMBER

19 September 2007 at 13:06

Come December, and all the nagging income tax refund worries will be over. The I-T department would be crediting the refunds directly to tax payers' SBI accounts. "Tax payers need not come to Aikar Bhawan to persue their refunds. It will be electroni

Posted in Income Tax | 3132 Views

What is subprime effect?

18 September 2007 at 20:51

What is this subprime effect?By - Ashutosh M Wakhare If you are the kind who follows the business press and news channels very closely, then chances are that, in the last one week, you would have heard stock market experts blaming US subprime default

Posted in Investments & Personal Finance | 5262 Views

FINMIN MAY BLOCK RETAIL CESS

18 September 2007 at 20:24

The cess on large retail players may not come through at all. The finance ministry is unlikely to endorse a proposal made by the department of industrial policy & promotion (DIPP) to levy a cess on organised retail to create a fund that would finance

Posted in Community & General | 2532 Views

TAX REFUND FOR EXPORTERS ON 4 SERVICES

18 September 2007 at 20:19

The Finance Ministry on Monday made the first ever move to refund service tax paid by exporters on non-input services. The refund will now be available on four identified transport and port services that could be linked to export goods. Services offe

Posted in Service Tax | 4254 Views

ALTERNATIVE DEPB SCHEME SOON: MINISTER

18 September 2007 at 20:18

The Commerce Ministry is working on an alternative Duty Entitlement Pass Book (DEPB) scheme. "It is in the final stage," Union Minister for Commerce and Industry, Mr Kamal Nath, said but refused to elaborate.Responding to queries after inaugurating t

Posted in Community & General | 3126 Views

New hubs to bolster tax kitty

18 September 2007 at 00:23

The Central Board of Direct Taxes (CBDT) has discovered new hubs to bolster the tax kitty at this time at the grassroots. The CBDT has spotted Panchayats in states such as Gujarat, Maharashtra, Karnataka and Madhya Pradesh as the potential tax p

Posted in Income Tax | 2925 Views