CAclubindia News

Income Tax Surveys in full swing

08 February 2008 at 10:14

Income Tax Department had recently carried out a search operation against a group of Gurgaon engaged in development of real estate and running a private airline. On the basis of evidence collected during that search, surveys were subsequently conduct

Posted in Income Tax | 1 comments | 5061 Views

GST set to replace state & central taxes by 2010

08 February 2008 at 09:03

GST set to replace state& central taxes by 2010 Theproposed unified goods & service tax (GST) regime could spell an end tovarious kinds of exemptions enjoyed by the corporate sector. These includearea-based exemptions and sectoral tax breaks. Finan

Posted in GST | 4191 Views

Charitable Trusts under Finance Minister's Scrutiny

07 February 2008 at 16:30

Charitable Trusts under Finance Minister's Scrutiny The government is considering a proposal to redefine and narrow the concept of "charitable activity" to ensure that only deser

Posted in Income Tax | 4236 Views

Extension of limits in a Bewildered State: Budget

06 February 2008 at 13:13

With the last full-fledged Budget of the UPA government, Finance minister P Chidambaram might spread cheer all around with Budget 2008-09. A hike in the income-tax exemption limit from Rs 1,10,000 to Rs 1,25,000., a higher ceiling for tax-saving in

Posted in Income Tax | 4065 Views

Quarterly TDS return due date extended-CBDT

06 February 2008 at 13:01

The Central Board of Direct Taxes have 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 of financial year 2007-08 to 29th February 20

Posted in Income Tax | 1 comments | 33006 Views

Indian CA get ready for Australia and UK

06 February 2008 at 10:48

Indian CA's can look forward to practice in Australia and UK as ICAI is in the process fof sighing agreements with its counterparts for mutual recognition of each others course.As per ICAI president Ved Jain there is a possibility to sign MRA(M

Posted in Career | 4 comments | 17862 Views

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 | 3531 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 | 16506 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 | 7998 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 | 2991 Views