New Simple ITR form ‘Sugam’ to be introduced for small tax Payers Steps initiated to Reduce tax Related Litigation

Posted: 04 Mar 2011 09:48 PM PST

The Union Budget 2011-12 has laid a special emphasis on reducing the compliance burden of small tax payers by introducing simplified return form called 'Sugam'. The Finance Minister Shri Pranab Mukherjee while presenting the Budget said that the small tax payers who fall within the scope of presumptive taxation can utilize the new simplified form Sugam. To fast track the disposal of cases...

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New levy on utensils: options with trade

Posted: 04 Mar 2011 08:07 PM PST

Introduction:- Finance Bill, 2011 has imposed excise duty on a no. of goods that were exempted prior to announcement of Budget. It has withdrawn a no. of exemptions and has imposed the excise duty on them. One such withdrawal of exemption has been done in case of utensils made up of stainless steel and falling under tariff heading 73239420. Prior to Budget, 2011; utensils were exempted...

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