Others News

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 | 31416 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 | 15096 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 | 17805 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 | 4623 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 | 7362 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 | 2406 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 | 9096 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 | 18039 Views

Speech of Pranab Mukherjee Minister of Finance

06 July 2009 at 13:40

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Posted in Others | 2 comments | 5094 Views

Budget Highlights!!

06 July 2009 at 13:04

Mr FM quoted Mahatma Gandhi in his speechDemocracy is the art and science of mobilizing the entire physical, economic and spiritual resources of various sections of the people in the service of the common good of all. BUDGET 2009-10 CHALLENGES

Posted in Others | 6 comments | 11103 Views