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MUMBAI: According to one of the largest foreign institutional investors Morgan Stanley, there is a belief that BJP can pass the GST Bill by this July as it has got an ample number of Member of Parliament (MP) to pass the bill.
Announced on Monday, the Budget 2016-17 has been reported by the Union Finance Minister Arun Jaitley who spoke about the various income tax proposals for small tax payers, corporate tax, pension, tax exemptions and rationalisation of taxes. It has been said that one of the chief purposes behind this altered tax regime is to boost […]
The Finance Minister Arun Jaitley unveiled three new measures to provide Income tax relief for the small taxpayers. Mr Jaitley proposed, Under Section 87A of Income Tax Act, The deduction limit of Income tax increased from Rs. 2000 to Rs. 5000 per annum. Prior, It reduces only Rs. 2000 of the total tax payable. This […]
Finally, the highly awaited third union budget 2016-17 is here. Finance Minister Arun Jaitley has announced the same in New Delhi today. According to the budget, the individuals who are having income less than or equal to Rs. 5 lakh under section 87A will get an increased tax rebate of Rs. 5000. A resident individual […]
The approach behind the Employee Provident Fund (EPF) scheme is to provide significant benefit to the employees at the time of their retirement. The scheme specifies that a nominal amount is deducted from the salary of an employee as a contribution towards the fund. According to the latest circular, which has got affected from June […]
The Service tax came into existence around 22 years back in July, 1994 under the Finance Act in India. Primarily, it is a tax, which is paid by the service provider to the government on certain service transactions, but actually recovered from the customers who take the services. It comes under the category of Indirect […]
A-VAT Solution is a leading software for filing VAT Tax returns in India. On a brief note, a value-added-tax is defined as a tax, which has been enhanced up at each stage of the production or distribution of a product. In terms of generating VAT returns, you will find a huge list of software’s over […]
An excise or excise duty is the indirect tax, which is paid on the sale of a particular good. The reason behind why they are called indirect tax because the government does not apply the tax straight forward. There is an intermediary, which is either the merchant or the producer who pays the tax to […]
Every year, probably during the months of May and November, The Institute of Chartered Accountants of India (ICAI) conducts CA/IPCC examinations where a large number of students put their full potential to crack the papers and strive a tough competition to clear the same. However, even after preparing a lot, many of the ambitious minds […]