ICAI Invites Suggestions for Pre-Budget Memorandum-2012

The Central Direct & Indirect Taxes Committees are in the process of identifying issues that need to be taken up in the Pre-Budget Memoranda on Direct & Indirect Taxes – 2012 to be submitted to the Ministry of Finance.

Suggestions are invited on laws relating to Direct Tax, Central Excise Duty, Customs Duty and Service Tax for the purpose of inclusion in the Pre-Budget Memoranda – 2012.

Suggestions relating to Direct Taxesto be given under the following head:

• Suggestions for widening the tax base and increasing the tax revenue
• Suggestions to check tax avoidance
• Suggestions for rationalization of the provisions of Direct Tax Laws

Suggestions in respect of Indirect Taxes to cover Central Excise Law and Rules, Customs Laws and Rules, Service Tax Law and Rules.

The suggestions relating to policy matters and procedural matters be mentioned separately and for each of the issue, following details be given in the format specified below:

• Issue – brief description of the issue with relevant provisions of law
• Suggestion – specific suggestion to deal with the issue
• Rationale – the justification for the suggestion.

Suggestions may be sent at prebudget@icai.org by 31st October, 2011.

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3. ICAI invites Suggestions on the Direct Taxes Code Bill, 2010
4. Union Budget- Suggestions from the Industry and Trade Associations for Budget 2011-12 regarding changes in direct and indirect taxe
5. ICAI invites views/suggestions for simplification and rationalization of the provisions of the Chartered Accountants Regulations, 1988