- Thursday, November 19, 2009, 1:30
- Income Tax
Corporate India is not the sole critic of the Direct Taxes Code. The code, precursor to a brand new income tax law, has found opposition from within government, too. An internal committee of the Central Board of Direct Taxes, the principal policy-maker in the domain, has called for a thorough review of the code, including a revision of the income tax slabs and the definition of 'income from salaries'.
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- Friday, October 16, 2009, 13:24
- Income Tax
DIRECT TAX CODE BILL, 2009 was unveiled by our Hon. Finance Minister on 12th August 2009 and has been placed in the public domain for an analytical study and critical review of all its clauses. It seeks to consolidate and amend all the Laws relating to the Direct Taxes.
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- Saturday, September 5, 2009, 0:32
- Income Tax
The governments around the world may consider funding their increasing deficits by hiking personal income tax rates, though India may not be one among those, with the tax rates in the country nearly constant over the last seven years. The highest tax rate applicable on an income of over Rs 5,00,000 per annum stands at [...]
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- Saturday, August 15, 2009, 8:03
- Income Tax
For Individuals and Hindu Undivided family The code proposes to exempt the general tax payer from paying income tax if his income is Rs 1,60,000 in a year. He would pay just zero tax till an income of Rs 1,60,000 per year. From income above Rs 1,60,000 till Rs 10 lakh (Rs 1 million), he [...]
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- Tuesday, July 14, 2009, 23:37
- Income Tax
Government has no plans to bring a new amnesty scheme for tax evaders and wants to amend the Indo-Mauritius tax treaty to curb its abuse by companies, the Rajya Sabha was informed on Tuesday. VDS schemes in the past offered amnesty to people declaring black money and paying tax. But VDS schemes cannot be hugely successful [...]
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- Tuesday, March 31, 2009, 2:36
- Income Tax
The rates for deducting income-tax at source from Salaries and computing advance tax during the financial year 2008-09 have been specified in Part III of the First Schedule to the Act. These rates are also applicable for charging income-tax during the financial year 2008-09 on current incomes in cases where accelerated assessments have to be [...]
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