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Get the important posts about Budget Session 2016 including suggestions, latest news and expectations. Check out the category for more details.
GST is on the way and still, there is a lot to improve the statistics as the all of the finance ministry is looking up the best measures to fix the new tax regime in the best possible way. In this year, there is a significant event to take place which will affect many in a similar way, and that is Budget 2017 heading in February.
The Hon’ble Finance Minister Mr. Arun Jaitley announces a new Cess, Krishi Kalyan Cess at the rate of 0.5% on all taxable services while presenting the third full-year Budget of the current government on February 29, 2016. The Krishi Kalyan Cess has been introduced for the purpose of financing to improve agriculture activities and welfare […]
1. Section 192(A) – Payment of an accumulated balance of PF due to an employee. The threshold limit increased to Rs. 50,000 from the prior limit Rs. 30,000 for the purpose of deducting TDS. Means, no TDS applicable if PF withdrawal amount is less than Rs 50,000. 2. Section 194BB – Wining from Horse Race, […]
The recently announced Union Budget 2016-17 has not made a positive impact on many of the Indian salaried employees and left them wondering whether they are rich or poor. But, in this whole mess of provisions, there’s a lot of ways that would help you out in saving your bulk of tax. To help you […]
The honourable Chief Minister of Rajasthan, Mrs Vasundhara Raje has made an announcement regarding Rajasthan Buget 2016 with Rs 99,693 crore annual development plan on March 8 (women’s day). This budget includes Ujwal Discom Assurance Yojna scheme, projected a fiscal deficit of INR 43,147 crores. Mrs. Raje also announced VAT rebate for solar torches, biomass […]
New Delhi: Due to the extreme criticism faced by the proposed EPF tax regime, Finance Minister Arun Jaitley has made an announcement to withdraw the controversial EPF taxation proposal on Tuesday morning. He said that there will be a thorough evaluation of the same, which the government would take. The major parties involved in criticizing […]
The Revenue Secretary Hasmukh Adhia said that the tax liabilities that the Vodafone and Cairn are facing cannot be rejected. Nevertheless, to remove the interest and penalty, it has done the most. During an interview with PTI, there was an indication by the government towards the companies facing taxes paying to enactment of a law […]
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 […]