CAG for tighter tax norms for film and TV industry
PrintListen to this Article
Concerned over tax evasion and the need to widen tax base, the Comptroller and Auditor General (CAG) in its report tabled in Parliament, suggested that payments for sale of distribution rights of films and time slots to television channels should be subject to the provisions of Tax Deduction at Source (TDS).
It would mean that entities making such payments would be required to deduct tax before making payments.
"...Provisions for deduction of TDS on sale of distribution rights and sharing of proceeds from exhibition of films may be introduced", the CAG recommended.
The government auditor further said that all persons and entities associated with film and televising industry should be assessed in the specially created Film Circles.
Category : CAG | Comments : 0 | Hits : 412
The Comptroller and Auditor General of India (CAG) has written to the finance ministry seeking details about the ongoing performance audit of government's massive recapitalisation excercise of public sector banks (PSBs). CAG is doing performance audit on recapitalisation of PSBs after 2016-17 and it has written a letter to the Department of Financial Services, Ministry of Finance, seeking various information, including rationale for distribution of capital among different PSBs, sources sa...
Former Lieutenant Governor of Jammu and Kashmir, Girish Chandra Murmu will be the new Comptroller and Auditor General of the country. Mr Murmu will succeed Rajiv Mehrishi. An IAS officer of Gujarat cadre, Mr Murmu resigned as Lieutenant Governor of Jammu and Kashmir on Wednesday. #casansaar (Source - NewsOnAir, Tweet)
Selection of Auditors - Policy of Empanelment of CA Firms explained by CA. Bhawna Dawar. Watch this video. https://youtu.be/bFze1O1CbsQ
The Comptroller and Auditor General of India (CAG) has rapped direct tax authorities for irregularities in assessments of personal income and corporation taxes over the years. In a report on direct taxes for 2018-19 tabled in Parliament on Tuesday, the auditor suggested that the government consider the information technology system for direct taxes being placed at arms length from CBDT, with an independent governmental body or organisation. CAG found irregularities in 340 high-value cases ...
The roll-out of GST has unified the multiple central and state taxes on goods and services to a great extent and made credit for input taxes available through the value chain, but hasn’t simplified the tax compliance regime while the experience so far has also been that of slowdown in tax revenue growth, the Comptroller and Auditor General (CAG) said. “The system of payment and settlement of tax that was envisaged for GST was based on one hundred per cent invoice-matching and availme...
Comments