Cii pre budget memorandum 2012-13 pdf download

Union budget 201415 an analysis the confederation of indian industry cii works to create and sustain an environment conducive to the development of india, partnering industry, government, and civil society, through advisory and consultative processes. In the memorandum on transparency and open government, issued on january 21, 2009, the president instructed the director of the office of management and budget omb to issue an open government directive. Changes in law 1 evidence of completion of construction should not be restricted to the. With the introduction of xbrl, this process can be streamlined. Dec, 2012 graph 5programs also known as goals in the budget group instructional and support costs by the type of activity or purpose. Industry body ficci has recommended a series of steps for the steelmaking industry. The budget year refers to 2012 , while the forward estimates period refers to 201 314, 201415 and 201516. Income tax slab suggested by icai in prebudget memorandum. John tsang chun wah, jp, delivered the 2012 budget speech. In the budget 200506, this levy was extended without any time limit. Victoria faces challenges a high australian dollar, weaker global and national economic conditions and a substantial reduction in gst and. Prebudget memorandum 2012 we take this opportunity to present a pre budget memorandum on direct taxes with a request to consider the same while framing proposals in finance bill, 2012 for amendments to the incometax act 1961.

Cii union budget analysis 2014 linkedin slideshare. Icsi releases prebudget memorandum for union budget 2012. Discrepancies between totals and sums of components reflect rounding. Prebudget memorandum 201718 indian paper manufacturers association ipma 2 even as the industry is grappling with the issue of producing paper and paperboard at competitive costs, the problem has been exacerbated by the governments policy of extending. Confederation of indian industry seeks corporate tax cut. It was announced in the budget speech for 2012 that a new scheme is proposed to encourage flow of savings in financial instruments and improve the depth of domestic capital market. Union budget of india for the year 201220 was presented by the finance minister pranab mukherjee on march 16, 2012. Sme ppt small and medium sized enterprises economy of. Dec 31, 2011 icsi releases prebudget memorandum for union budget 2012. Cii is of the view that any increase in excise duty in the union budget 2012 would adversely affect the growth prospects of the industry and result in higher cost to the consumer, in turn. Accordingly, a new clause has been introduced in the finance act, 2012 to insert a new section 80ccg in the incometax act. Beyond its specific mandate for industry and commerce, the mcci takes part in the national economic policy formulation which shapes the economic future of our country through its research and by developing new economic analysis tools. The surcharge and cess on corporate tax may be abolished. The 2012 budget consultation on revenue pdf format 21.

Bombay chamber of commerce and industry capitalmarket. For the purposes of this section only, the term agency means any agency described in 31 u. The said inflation index is applicable for financial year 201112. In the interim budget for 200405 this levy was extended up to 31. Cii in its prebudget memorandum has brought out few cases of anomalies in. In the context of the worldwide economic problems and its consequent effect in india, it is suggested that the corporate tax rate be brought down to 25% within the next 2 3 years and surcharge and education cess be removed in respect of corporates. The explanatory memorandum on federal receipts is also being tabled along with the annual budget statement, as additional information, in order to help the readers understand the details of the receipts included in the statement. Our 2012 budget has a range of initiatives designed to ensure that individuals and communities throughout south oxfordshire have that little bit more money to go. An agent, dealer or distributor needs to declare the income based on accrual basis.

Responding to that instruction, this memorandum is. Icai the institute of chartered accountants of india set up by an act of parliament. Cii and the associated chambers of commerce and industry of india assocham. Sensing the business opportunities, your company has increased minimum download. Annual budget estimates and revised budget estimates for revenue account. The 2012 budget will be crucial as it will provide the basic elements to achieve this goal. This memorandum sets out pakistans economic and financial policies for august 20july. Expectations from budget 201920 for corporates by cii in the report, it specifically mentions the high tax rate on the corporate sector which is currently the highest in the world. It is a matter of great satisfaction that the govt.

Prebudget memorandum suggestions for the union budget 201718 posted on. The government of pakistan has adopted a comprehensive program to address vulnerabilities and boost inclusive growth through macroeconomic stabilization and structural reforms. The consistent and determined efforts of the institute to promote the growth. Prebudget memorandum 201617 indian chemical council. Cii, in its pre budget memorandum 201011 to the ministry of finance, has made recommendations to address the. Antar submission to the 2012 federal budget 5 however, the formal role of the panel will conclude with the presentation of its final report to government. Siam is the link between the indian automobile industry and other bodies including the government. Budget and fiscal plan 201011 to 2012 building on the momentum of the 2010 olympic winter games budget 2010 builds on the momentum provided by the 2010 olympic and paralympic winter games and the return to positive economic growth as the world recovers from the recession in 2008 and 2009. Download annexures to prebudget memorandum for union budget 2012. In budget 200304, nccd levy was imposed on polyester filament yarn, motor cars, multiutility vehicles, two wheelers, domestic crude oil for one year up to 29. Progress, the benefit of the which accrues during the period of the project. This 2012 document continues a long dsica tradition of compiling industry and revenue data in a comprehensive and detailed manner not readily available elsewhere. Government of india has requested icc to send proposals for the union budget 20172018 providing your suggestions for changes in the duty structure, rates and broadening of tax base on both direct and indirect taxes giving economic justification for the same. Amid moderation, cii said any hike in excise duty would further impact growth and also put burden on consumers.

Cii, in its pre budget memorandum 201011, submitted to the ministry of finance, has made recommendations keeping in view these broad challenges. A repetition of prior years pathway earlier today, the financial secretary of the hksar government, mr. Cii pre budget memorandum recommendations are mainly along the pillars of creating fiscal space for investment in infrastructure, enhancing. Deputation of employees since employees deputed to the indian company work under the control and supervision of the indian company, and hence are essentially employees of the indian company, amounts paid by the indian company to the. Pre budget memorandum for union budget 201718 table of contents page reference executive summary ixv direct tax 145 income tax 145 upstream 15 downstream 611 natural gas 1114 general 1445 indirect tax 46123 customs duty 4672 upstream 4659 downstream 5970 natural gas 7071 general 7172 excise duty 73102 upstream 7375 downstream 7591 natural gas 9192. Morandum 201718 direc taxes 5 executive summary the union budget 201718 is anticipated by indian public with lot of hopes and expectation after government shown its determination to replace the current multiple and multilayered. Chart 1full time equivalent fte is the measurement of staffing within the district. Percentages are based on the underlying unrounded amounts.

Pre budget memorandum 201920 by icai cost accounting. Ministry of finance has described as factually incorrect a news report published in a section of the press claiming that the ministry of finance had been using bureaucratic procedures to delay the sanction of 64 posts of teaching and nonteaching staff for federal colleges despite their approval and recommendation by the planning commission. The sme sector in india is growing at an exceptionally fast rate due to which it is proving to be beneficial to the indian. Cllr david dodds, cabinet member for finance at south oxfordshire district council, said.

The pre budget process is a unique opportunity for all of us, policymakers, the social partners and, other stakeholders to critically evaluate our economic and social situation and, to discuss. Among the key changes, suggested by ficci in its pre budget memorandum 201920, it. Cii pre budget priorities for msmes contd on page 19. The union budget 201920 is expected to give boost to the rural consumption in. The memorandum contains suggestions on issues relating to service tax, cenvat.

Index for urban and nonmanual employees for the immediately preceding. When the finance minister mr pranab mukherjee rose to present the union budget 201011 in parliament on 26th feb 2010, it was the sixth time over a span of 28 years that he was doing so. Project assistance receives 40% of the itec budget. Indian industry cii and the associated chambers of commerce and industry of india. Briefing for the legislative council pdf format 02. With its investment in frontline services and support for the private sector, this budget will ensure the act community is well placed to prosper into our citys second century. Prebudget memorandum 2016 indirect taxes the institute of chartered accountant of india new delhi. Our recommendations are discussed in detail in the enclosed memorandum, which we submit for your kind consideration.

This graph illustrates the districts expenditures by goals. Cost inflation index for financial year 201112 assessment year 2012. Memorandum on economic and financial policies for 2014201516 1. Pre budget memorandum society of indian automobile. Improve transparency on offbudget transactions and contingent liabilities.

The institute, as a leader in the field of accountancy in the south asian region, is also imparting training to accountants from overseas countries. Jun 14, 2012 it was announced in the budget speech for 2012 that a new scheme is proposed to encourage flow of savings in financial instruments and improve the depth of domestic capital market. Dsica pre budget submission 2012 preface dsica appreciates the opportunity to prepare and present a pre budget submission to the federal treasurer. All direct tax changes in interim budget explained from. Icai the institute of chartered accountants of india. The pre memorandum budget 201920 specifically talks about the changes that can be made for the growth of the industrial economy. Figures in tables, charts and text have been rounded. Introduction the institute of chartered accountants of india icai considers it a privilege to submit the prebudget memorandum, 2018 on indirect taxes other than gst to the government of india.

Submit article calculators downloads income tax deductions empanelment exam tips. In consultation with the office of management and budget omb, agencies shall direct all. Pre budget memorandum 201920 by icai cost accounting taxguru. It is thus imperative for india to add to domestic pvc manufacturing capacity to nurture growth in.

Suggestions on direct tax institute of cost accountants. Gstn to download gstr 2a as on 11th of every month. Indian general budget 2012, central budget 2012, indian. Percentage changes are based on unrounded estimates. The memorandum distinguishes revenue from capital receipt. Complete coverage of budget 2012 union budget 2012, railway budget 2012, economic survey 2012. Prebudget memorandum suggestions for the union budget. Pre budget memorandum 2018 institute of cost accountants.

Icai is established under the chartered accountants act, 1949 act no. Pre budget memorandum 2012 we take this opportunity to present a pre budget memorandum on direct taxes with a request to consider the same while framing proposals in finance bill, 2012 for amendments to the incometax act 1961. Indian chemical council prebudget memorandum 201617 downstream processors will find it difficult to secure pvc resin supplies even from international sources in about another 5 years. Download as pptx, pdf, txt or read online from scribd.

Pratima patil supriya pawar shirish salian sanjay vanjari. Siam organizes the biennial auto expo the motor show series of trade fairs in cooperation with automotive component manufacturers association of india acma and confederation of indian industry cii. Jun 10, 2014 income tax slab suggested by icai in pre budget memorandum 2 0 raj kumari tuesday, june 10, 2014 edit this post with regard to rates of taxation for individual and hufs, the parliamentary standing committee on direct taxes code had observed the following. Industry chamber cii in its has prebudget memorandum has asked the government to reduce customs duty from 10 per cent to 2. The explanatory memorandum on federal receipts is also being tabled along with the annual budget statement, as additional information, in order to. The iip print for the month of august was a positive surprise and came in at 2. There is a critical need for substantial resources to be allocated in the 2012 budget for community education if the referendum is to have a strong chance of success. You can copy, download or print oecd content for your own use, and you. Create a conducive operating environment for smes, says cii in its pre budget 20 memorandum, cii has asked the government to create an enabling environment for smes. Budget at a glance p r e f a c e this volume of budget 2014, andhra pradesh budget in brief provides an overview of the budget proposals of the government for the year. Rate specified in the relevant provisions of the act. Oct 19, 20 the federation submitted its pre budget memorandum for 2009 demanding at least 50% excise relief.

Some of the key recommendations made in the memorandum are summarized here. Ficci, confederation of indian industry cii and the associated chambers of. Comprehensive measures have been released to stabilize and maintain the equilibrium of aggregation demand in the economy in. Ii has submitted its pre budget memorandum for the msmes, with the government and other stakeholders. The memorandum contains suggestions for the consideration of the government while formulating the tax proposals for the year 2014. Assocham prebudget memorandum 201718 direct taxes 8 s no.

It provides an analysis of the trends in the receipts and expenditure for the last few years, sectoral. Joint memorandum on issues for post 2012 budget dialogue page 3 of 37 monetary and nonmonetary incentives received by an agent, dealer or distributor are considered as income from business source. Timely public consultation another key feature of our regime is the near absence of public consultationand debate prior to enactment of law. Confederation of indian industry cii, in collaboration with the wto, conducted a. Prebudget memorandum 201617 suggestions on service tax synopsis sr. Notified cost inflation index under section 48, explanation v as per notification no. In the context of the worldwide economic recession, it is suggested that in line with the dtc, the surcharge and education cess be removed in respect of corporates.

Exclusive cnbctv18 and cnbc awaaz news, views, videos, budget analysis, expectations. These enterprises can be rightly called as the backbone of the gdp of india. Cbdt has announced the long awaited cost inflation index for the financial year 2012. In exercise of the powers conferred by clause v of explanation to section 48 of the act, cbdt has notified 785 as the cost inflation index, in respect of computation of gains arising on the transfer of long term capital asset. In the union budget 2012, it was announced that weighted deduction at the rate of 150 per cent of expenditure incurred on skill development in manufacturing sector will be provided. Further, corporate tax rate may be brought down to 25% and tax rate applicable to foreign companies may also be relooked to provide level playing field and to facilitate better tax compliance and bring down cost of doing business in india. Jun 23, 2011 cost inflation index for financial year 201112 assessment year 2012. Cost inflation index is used to calculate long term capital gain on sale of capital assets. These are discussed in detail in the enclosed memorandum, which we submit for your. Icai submits pre budget memoranda2020 tax audit limit increased from 45 to 60 for audits conducted during the financial year 201415 and onwards modification in the council guidelines no. Memorandum, memorandum of budget 2012 , budget memorandum, indian new budget 2012, budget features, budget news, budget notifications, major changes in budget 2012 , 2012 budget, india budget 2012 20. Definition of sme sme is the abbreviation for small and medium enterprises.