Announcement for Members holding Certificate of Practice (COP) with regard to Compliance of CPE hours requirements for the Calendar Year 2008 (27.12.2008)
Deadline of 31st December, 2008 for completion of minimum 20 CPE hours of structured learning for 2008 extended upto 31st January, 2009
The government is likely to revise downwards indirect tax collections target for the current financial year by at least Rs 20,000 crore, because of cut in industrial production due to the global economic slowdown and duty sops. Also, direct tax collections, which constitute 53 per cent of total tax revenue for the government, has registered a growth rate of only 11 per cent in the current fiscal so far, as against a required rate of 16 per cent to achieve the budget estimate. (more…)
The economic slowdown will not prevent the government from meeting its 2008-09 direct tax collection target. “We are confident of achieving the 2008-09 target of Rs 3,95,000 crore,” said N.B. Singh, chairman of the Central Board of Direct Taxes (CBDT). According to CBDT officials, British telecom firm Vodafone will pay Rs 10,000 crore as capital gains tax following an order by Bombay High Court.