sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
« News Headlines »
 Who can use ITR1 form to file tax return?
 Who can use ITR1 form to file tax return?
 Central Goods & Services Tax (Seventh Amendment) Rules 2018
 Filing your income tax returns? You need to know which form to submit
 Income tax return filing for FY 2017-18: Here are all the links you need
 Filing your income tax returns? Here are 4 challenges that you may face
 7th Pay Commission and Income Tax efiling: Here is how government employees need to file ITR for AY2018-19
 Don’t forget these tax breaks while filing ITR for AY2018-19 Income Tax efiling
  Here are five ways to e-verify your income tax return
 Filing Income Tax Return? You must keep these key documents handy
 33 LPA- Opportunities for Chartered Accountant

PM for import tariff cut, re-look at tax exemptions
January, 08th 2007

Ahead of the budget, Prime Minister Manmohan Singh today laid down his government's economic priorities that include a re-look at tax exemptions, policy for rehabilitation of displaced farmers, focus on power sector and further cut in import tariff.

Concerned over the "irrational exuberance" at the stock exchanges, he indicated that the government's priority was to ensure stability of the booming capital markets.

He hinted at steps to control inflation and maintain fiscal discipline, while ensuring that the rate of investment is sustained for maintaining growth rates.

"Our tax regime should be liberal but equitable... In the long run our tax regime should not have too many... Exemptions which make tax administration an unnecessarily complex exercise vulnerable to misuse," Singh said at the annual general meeting of FICCI.

He said the country would now move toward a common general sales tax (GST) and better harmonisation of value added tax (VAT).

The government would finalise a new rehabilitation policy in three months to deal with issues arising out of land acquisition for industrial use, Singh said.

"There was no reason why spread of industrialisation should be a contentious process... Issues such as land acquisition and displacement of people and their rehabilitation should be transparently addressed," he said, adding the proposed policy would be more progressive, humane and conducive to the long-term welfare of all stakeholders.

As India gradually integrates into the global financial system, the government would move into a less restrictive foreign exchange regime. "The recommendations of Tarapore Committee are a step in this direction, mixing caution with optimism," Singh said.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Quality Assurance Services Testing and Re-testing

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions