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Budget is positive, realistic, say industrialists
New Delhi, July 6 (IANS) The union budget for 2009-10 presented by Finance Minister Pranab Mukherjee Monday is “positive” and “realistic” and both the business community and the common man would benefit from the budgetary proposals, leading industrialists in the country said.
“I am reasonably happy with the budget,” said Deepak Parekh, chairman of Housing Development [...]
Tax structure to be simplified: Mukherjee
New Delhi, July 6 (IANS) The government will work towards simplifying the tax structure in the next four years, Finance Minister Pranab Mukherjee said while presenting the union budget for 2009-10 in the Lok Sabha Monday.
The income tax department has also been asked to introduce the simplified version of the tax filing form Saral, called [...]
Fringe benefit tax abolished
New Delhi, July 6 (IANS) Bowing to the long standing demand of India Inc, Finance Minister Pranab Mukherjee has abolished the fringe benefit tax and commodity transaction tax.
However, Minimum Allocation Tax (MAT) on book profits has been increased from 10 percent to 15 percent, but with a provision of carrying forward the tax credit on [...]
StanChart to appoint John Peace as chairman: report
Standard Chartered will appoint John Peace, who is at present the acting chairman of the global banking major, as its chairman, says a media report.
“Standard Chartered is set to appoint John Peace, a boardroom heavyweight known mostly for his retail experience, as its chairman,” The Times said.
The report noted that Standard Chartered may make an [...]
UDN – TDS assessees need to quote unique number in I-T return
UDN – TDS assessees need to quote unique number in I-T return
NEW DELHI: Assessees whose tax is deducted at source will have to wait for some time this year before filing returns as they will be required to quote a new number in the form.
The new number, Unique Transaction Number (UTN), has been made mandatory [...]
