Finance - For individuals, the proposed rate is likely to be 10% for income upto 10 lakhs, 20% upto 25 lakhs and 30% above that. Incentive to save is likely to rise to 3 lakhs from the present 1 lakh. Corporate taxes are likely to be revised downward to 25%. Security Transaction tax is likely to be scrapped. Wealth tax is likely to be 0.25% for wea...
Finance - Finance Minister Pranab Mukherjee on August 10 released the New Draft Direct Tax Code. The draft, which is expected to radically change the tax structure, will now be open for discussion after which it will take the form of law. The finance minister had in his budget promised to deliver a new code within 45 […]...
Finance - One of the most favoured duty reimbursement schemes among exporters - the Duty Entitlement Passbook (DEPB) scheme - is likely to be scrapped, as the government gears up to introduce the Goods and Services Tax (GST) from April 1. The scheme, which was extended till December 31 in the Foreign Trade Policy 2009-2014, is widely viewed as one ...
Finance - One of the most favoured duty reimbursement schemes among exporters — the Duty Entitlement Passbook (DEPB) scheme — is likely to be scrapped, as the government gears up to introduce the Goods and Services Tax (GST) from April 1. The scheme, which was extended till December 31 in the Foreign Trade Policy 2009-2014, is widely viewed as ...
Finance - The government looks all set to introduce the new Direct Taxes Code in the forthcoming budget session , a government official said. Finance minister Pranab Mukherjee met Prime Minister Manmohan Singh on Tuesday to discuss the contours of the new code, billed as the major reform of the direct tax structure being undertaken by the United Pr...
Finance - The government is through with the consultation process on the proposed direct taxes code and the contours of the new tax structure could be finalised soon, a top government official said on Wednesday. The process of consultation is almost complete," finance secretary Ashok Chawala told reporters on the sidelines of a Federation of Indian...
Finance - GST is just a VAT :-GST as you are aware is just value added tax (VAT) because when made a presentation to the chief minister this was an issue which I was asked - In three years you have somehow setup VAT and now you are talking about GST. I told them GST is VAT but two major more taxes are coming in but every other operation is like VAT...
Trade Cir. No. 32T of 2009 - (24/11/2009) - To give effect to the Budget proposals, a Bill (Legislative Assembly Bill No. XIV of 2009) to amend the Maharashtra State Tax on Professions, Trades, Callings and Employment Act, 1975 was introduced in the Legislature. The said Bill has been passed by both the houses of the Legislature. The Act is n...
Trade Cir. No. 32T of 2009 - 24/11/2009