Community & General Articles

If I were the Finance Minister of India

Posted by CA Anil Garg 25 July 2014 16968 Views

People of India were hugely disappointed with lackluster performance of Man Mohan Singh. Narendra Modi rode to power with absolute majority for the sole reason that promises were made by him and on his behalf that he will fix the economy and deliver

Clarification - Increase in Limit - Liberalised Remittance Scheme

Posted by CS Aditya Singhania 22 July 2014 9726 Views

Clarification - Increase in the limit from USD 75,000 to USD 125,000 for resident individuals under Liberalized Remittance Scheme (LRS) {Notification No. "RBI/2014-15/132 A.P. (DIR Series) Circular No.5 dated 17th July, 2014} Before going into t

Union Budget 2014 - Part II

Posted by CA.Hanumantha Reddy 21 July 2014 13555 Views

UNION BUDGET 2014-15Direct Taxes No change in corporate tax rate. No change in surcharge for all taxpayers Education cess remains same for all taxpayers. Insertion of new clause with effect from 01.10.2014 section 2(13A) Business Trus

New Development Bank (BRICS Development Bank)

Posted by Nikhil Kaushik 18 July 2014 16251 Views

New Development Bank(erstwhile Brics Development Bank)The term BRICS, coined by economist Jim ONeill today reflects in the newest socio-economic bloc on the ever increasing bi-lateral and multilateral arrangements on the global map. Earlier r

National Pension System - A Government's New Initiative

Posted by CA. Kapil Goel, DISA(ICAI) 17 July 2014 5879 Views

The National Pension System (NPS) reflects Government’s new effort to find a suitable & sustainable solution to the problem of providing adequate retirement benefits to the people at large. As a first step towards initiatingthis, Governmen

Budget 2014-2015

Posted by ESHA AGRAWAL 17 July 2014 12153 Views

BUDGET FOR 2014-15Modi govt budget for middle class is committed to lower taxes, FM Arun Jaitley said that lower taxes gave people money to spend which in turn helps in economic growth , FM Hike in exemption limit in personal income tax from Rs 2 lak

The Union Budget impact on the Indian Stock Market

Posted by Ashish 17 July 2014 10221 Views

The clamor and commotion over the long awaited Indian Budget for the year 2014-15 ended last week, with the arrival of the new governments intense budget. This budget has led the Indian people wondering whether it is an indication of the era o

Extending Scope of Advance Ruling

Posted by Pradeep Jain 16 July 2014 6400 Views

EXTENDING ADVANCE RULING TO RESIDENT PVT. LTD. COMPANIES The Union Budget 2014-15 was announced by The Hon’ble Finance Minister ‘Arun Jeithly’ on 10.07.2014. In this budget, some amendments have been made in the regime of Indirect T

Union Budget - An impact on common Indian

Posted by CA Neha Bhuwania 15 July 2014 18621 Views

The Union Budget- Indias embarkment into a new era- Impact on common IndianThe long awaited budget of the new government finally came up last week and must say, given the paucity of time to actually work on this intense budget, the Modi Govern

Union Budget 2014 -15 : Analysis of Major Direct Tax Proposals

Posted by CA Chitresh Gupta 14 July 2014 29696 Views

Rates of Income TaxBasic exemption limit has been increased from Rs 2 lacs to Rs 2.50 lacs for resident individuals or HUF. Income slabs Income Tax Rate Incom