Community & General Articles
Demand of time
Self dependency is a fruit of true success whether it is at personal level or country level. Mere being a professional is not a sign of true success. It is mere a launch pad of a journey. Money is not the measure of true success but the hard work is
Deduction under 80 CCF discontinued
80 CCF DISCONTINUED:- Investments made in infrastructure will no longer be allowed as deduction from the Total income u/s 80CCF i.e. over and the above the deduction u/s 80C, the additional deduction of Rs. 20000 is discontinued from next fisc
Budget 2012 - Indirect Tax (Excise and Service tax)
Indirect Tax I. Service Tax 1.1 Amendments to be effective from 1 April 2012 1.1.1 Change in Rate of Tax Rate of service tax has been increased to 12.36 percent (including Education Cess and Secondary & Hi
Proposed income tax amendments in Budget 2012-13-Part-2
Consideration in excess of F.M.V of shares to be treated as income from other source if consideration received is in excess of Face Value of shares: It is proposed to insert a new clause (viib) in the aforesaid sub-section so as to provide that w
Playing 'Economic' Moneyball - The Union Budget 2012-13
In 'Moneyball', Billy Beane the General Manager of the Oakland Athletics, a small town baseball team with a tiny budget, faces the challenge of winning games in Major League Baseball beating teams such as the New York Yankees whose budget is
Overview of Amendment in Direct Taxes(Budget 2012-13)
Introduction The provisions of the Finance Bill, 2012 relating to direct taxes seek to amend the Income-tax Act, inter alia, in order to provide for- A
Rajiv Gandhi Equity Savings Scheme
The budget is over and the market is flooded with analyst reviews about the budget. Every budget has provided some tax benefits to the Am Admi(Mango People) linked with the market returns. This time also the Union Finance Minister Shri Pranab Mukher
King's Speech - Union Budget 2012-13
"For every benefit you receive a tax is levied" Another year of Budget and another year of expectations. Lemme tell you that being Finance Minster of India is not an easy job. Especially when yo
My understanding of BUDGET - 2012
I am not an economist, and I am not even an eminent Chartered Accountant, however, from the views of various experts on the subject, I would like to express my understanding on Budget 2012 as follows: Background: We are all concerned at ou
New paradigm in Service Tax
Rajesh Kumar, AdvocateIn 2012 budget, there has been a paradigm shift in the Service Tax Laws. The shift is affecting all businesses- whether they are in manufacturing, service providing, NGOs, Trading or even Government departments. Even individual
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