« Top Headlines » Open DEMAT Account in 24 hrs   How to check income tax return (ITR) status  Income tax rules: How much cash can you receive in one day to avoid an I-T notice?  Tax saving tips: How you can reduce tax burden under the new regime  Condonation of delay under section 119(20) of the Income-tax Act, 1961 in filing of Form No. 9A/10/108/10BB for Assessment Year 2018-19 and subsequent assessment years  Condonation of delay under section 119(2)(b) of the Income-tax Act, 1961 in filing of Form No. 10-IC or Form No. 10-ID for Assessment Years 2020-21, 2021-22 and 2022-23  New GST form notified to help taxpayers adjust tax demand amount: Here's how to use  ITR filing deadline extended to November 15, 2024 for these taxpayers «  Shift in accounting policy led to lower grading: GIC... DCA-Plan panel turf war delaying Competition Policy road map... » IMC submits budget wish-list December, 27th 2006 The President, Indian Merchants Chamber (IMC), Mr Narayan Patel, in an pre-budget submission to the Union Government on Indirect Taxes, said, "the real issue is no longer India's high rate of growth, but whether the country could sustain that rate of growth. The Union Budget 2007-2008 must make the high growth trajectory more sustainable." It has been suggested the Government move faster towards fuller Capital Account Convertibility to counter inflationary risks and lower indirect taxes to international rates. The memorandum also favours replacing multiple taxes with a Goods and Service Tax, as this would increase the tax-GDP ratio by 2 per cent. The IMC memorandum wants the government to tax agricultural income.