https://www.taxtmi.com/news?id=14091 Proposed simplification of tax procedures includes raising monetary thresholds for single member tribunal hearings, rationalizing indirect tax penalties to promote compliance, allowing digitally signed invoices and electronic records for excise and service tax assesses, extending the time limit for CENVAT credit, revising excise and service tax rates and registrations, and implementing Tax Administration Reform Commission recommendations. Substantive changes replace the wealth tax with an additional surcharge on very high incomes, clarify indirect transfer provisions including dividend treatment by foreign companies, increase the transfer pricing applicability threshold, rationalize MAT for certain investors, permit full 80G deductions for specified donations, and allow seized cash to be adjusted against tax liability. en-us Sat, 28 Feb 2015 13:58:21 +0530 Sat, 28 Feb 2015 15:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=14091 Proposed simplification of tax procedures includes raising monetary thresholds for single member tribunal hearings, rationalizing indirect tax penalties to promote compliance, allowing digitally signed invoices and electronic records for excise and service tax assesses, extending the time limit for CENVAT credit, revising excise and service tax rates and registrations, and implementing Tax Administration Reform Commission recommendations. Substantive changes replace the wealth tax with an additional surcharge on very high incomes, clarify indirect transfer provisions including dividend treatment by foreign companies, increase the transfer pricing applicability threshold, rationalize MAT for certain investors, permit full 80G deductions for specified donations, and allow seized cash to be adjusted against tax liability. News - Sat, 28 Feb 2015 13:58:21 +0530 https://www.taxtmi.com/news?id=14091