The Friday witnessed a declaration from the Finance Minister, Pranab Mukherjee which has wounded the gold industry. The projected budget evaluates an adverse effect on the industries that ran on import of gold as the custom duty on Gold, Silver and Platinum has been raised to a considerable level. Earlier, Gold and Platinum were manifested at Rs. 200 for every 10 grams, which has now shifted to Rs. 300 for every 10 grams. On the .....
Under the existing provisions of section 208 the Income-tax Act, liability for payment of advance tax during a financial year arises when the amount of such taxes payable during that year are Rs.5,000/-or more. However, It is proposed in the Union Budget 2009-10 to raise the threshold limit for payment of advance tax from the present Rs.5,000/- to Rs.10,000/-. The recommended amendment will take impact from the 1st April, 2009. Hence, advance-tax for the financial .....
