Income Tax : Tax Collection at Source (TCS) on cash sale of bullion and jewellery - Under the existing provisions of the Income-tax Act, tax is...
Finance : The Budget 2012-13 will be announced on March 16, 2012 by the Finance Minister Pranab Mukherjee. There are a lot of expectations f...
CA, CS, CMA : Children Education Allowance -The exemption limit for Children Education allowance may be raised from Rs. 100 per month to Rs. 100...
Income Tax : The members of the Committee representing different fields made various suggestions to improve tax administration, better taxpayer...
Income Tax : Reeling under the impact of global slowdown and a high interest rate regime, India Inc on Monday demanded that tax rates be retain...
Finance : The Union Finance Minister Shri Pranab Mukherjee said that the growth rate would be around 7.2 percent during the current year. He...
Finance : The Union Finance Minister, Shri Pranab Mukherjee has emphasized that in a federal country like ours, States and Centre complement...
Finance : The Union Finance Minister Shri Pranab Mukherjee said that the current year was a challenging one as far as the domestic and the g...
Income Tax : In the context of formulating the proposals for the Union Budget of 2012-13, the Ministry of Finance would like to be benefited by...
The Union Budget is likely to be delayed by a few days, government sources have said. The Union budget and Railway budget are likely to be tabled in the first week of March, they said. That’s only after assembly elections in five states – Uttar Pradesh, Punjab, Uttarakhand, Goa and Manipur – are over.
Amid economic slowdown, finance minister Pranab Mukherjee will hold brainstorming sessions with various stakeholders during his annual pre-budget meetings beginning January 11. The first meeting would be held with agriculturalists, followed by a series of interactions with sectoral experts, representatives, industry captains and economists over the next ten days to get their feedback and inputs for incorporating them in Budget 2012-13.
The Outcome Budget documents will be prepared separately by each Ministry/Department in respect of all Demands/Appropriations controlled by them, except those exempted from this requirement and to the extent disclosures are not barred on considerations of security etc. A list of exempted Demands/Appropriations is enclosed at Annexure-I. However, even the Ministries/Departments and other authorities ‘exempted’ from preparation of Outcome Budget and placing it in public domain are requested to carry out this exercise for internal use and voluntarily decide to place it in public domain fully or partially.
Direct Taxes Committee of ICAI undertook the task of submission of Pre- Budget Memorandum to the Ministry of Finance. For accomplishing the same, suggestions on direct tax laws were invited from members across the country. The suggestions so received from each and every member were duly considered by the Direct Taxes Committee for inclusion in the Pre-Budget Memorandum.
In the context of formulating the proposals for the Union Budget of 2012-13, the Ministry of Finance would like to be benefited by the suggestions and views of your Association. You may like to send your suggestions for changes in the duty structure, rates and broadening of tax base on both direct and indirect taxes giving economic justification for the same.
