Racing towards Budget 08 !!!!!

Page no : 2

Pravin (Service) (46 Points)
Replied 15 February 2008

The Budget should reduce taxes on Daily need commodities and can think to get the difference by increasing duties on Luxury items..

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Ahmed (CA student) (1105 Points)
Replied 15 February 2008

excellent idea

Manoj Mehta (Senior ERP Consultant) (28 Points)
Replied 17 February 2008

Finance minister should once again think abt excluding of repayment of principal from 80E section. He should suport with both hands instead og giving by one hand and not supporting with another !

Ravi Satpal (CA (Final) & CS (Executive) Student) (2430 Points)
Replied 18 February 2008

a very powerful way to express our views....thx

MOHAN G (CS Final) (629 Points)
Replied 19 February 2008

ITS GOOD IDEA TO SHARE OUR KNOWLEDGE.

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Anand (481 Points)
Replied 21 February 2008

it will be better if some one can share their ideas on the forthcoming budget

Mridul (Financial Advisor) (225 Points)
Replied 21 February 2008

Kudos to the Idea, just there should not be any more service tax increases

(Guest)

I THINK TAHT CORPORATE TAX RATE REDUCTION AND LESSENING OF TAX LEVY ON FOREIGN COMPANIES NEEDS SOME RALAXATION AFTER PINCH OF FBT AND SERVICE TAX NETS ENLARGED EVERY BUDGET HURTING THE GLOBAL CAPITAL TO THINK TWICE BEFORE ENTERING INDIAN TERRITORIES FIRSTLY

(Guest)

i think they ARE planning to net the private schools and the private hospitals also under the service tax ambits which i think that should be highly unappreciable bcoz than those middle class peoples who work hard for their childs studying inthe private school would pay more fees coz of indirect nature of tax levy which should be avoided.

inder jain (Tax Author) (43 Points)
Replied 24 February 2008

Do away with Wealth Tax as it is no longer remunerative to the exchequer and there is no need of a seperate Act for very few Wealth Tax assesses left now.

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inder jain (Tax Author) (43 Points)
Replied 24 February 2008

Section 50C of the Income Tax is causing harrassment to the transferor assessees as the transferee pays stamp duty as per the prevalant Circle Rate to avoid stamp duty litigation and penalty and this results in undue capital gains liability on the transferor in view of legal fiction created by Section 50C.

Aditya M (Student) (166 Points)
Replied 25 February 2008

CENVAT credit should be streamlined.. it is too complicated now with so many circulars and notifications.. the 2004 rules are welcome but it is time to make them easier for every assessee to understand and use. There is so much unused credit lying with SSIs and even larger manufacturers.. And please do away with the distinction between capital goods and raw materials for the peupose of CENVAT credit.. If they are going to be allowed anyways, what difference does it make whether its today or over the next four years or so.. I also hope the FM makes inter-changeability in respect of input tax credit for goods and for services more general and all-pervasive.. Someone said that there should be no inclusion of services like schools and hospitals within service tax and i agree.. This would be counter-productive and greatly hurt thte middle class budgets. However, some luxury services currently outside the service tax net should be brought within..