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Perspective on budget 16 and currency market
The FY17 Union budget reflects a tough juggling act: managing the need to stay prudent fiscally while accommodating funds for an expanding wage bill, banking sector recapitalization, rural sector, and growth critical infrastructure spending.
Clarification on taxability of withdrawal of accumulated balance in the provident fund
The section under discussion:Section 10 (11)Section 10 (12)Rule 8 of Part A of the fourth scheduleExtract of above section from the Income Tax Act, 1961:10 (11) any payment from a provident fund to which tmhe Provident Funds Act, 1925 (19 of 1925), a
Highlights - Union Budget - 2016
Top Highlights of the Union Budgets - 2016Tax Infrastructure and agriculture cess to be levied. CPI inflation has come down to 5.4% from 9 plus. Excise duty raised from 10 to 15 per cent on tobacco products other than Beedis. 1 per cent service charg
Amendments in TDS shall be substituted w.e.f 01.06.2016
S.no Changes In following particulars Change in Existing provision Old Provision 1. In Sec 192A, �Payment of accumulated balance due to an employee� New Exemption Limit exceed t
Budget highlights for Direct taxes
1. Relief to small tax payers(a) Rebate under Sec 87A: With the objective of providing relief to resident individuals in the lower income slab i.e. total income not exceeding Rs. 5,00,000, section 87A is
51 points major changes in Direct Tax Law
1. Rates of income-tax- Surcharge @12% if Income exceeds 1 Crore with marginal relief.2. Divedend Tax- any income by way of dividend in excess of Rs.10 lakh shall be chargeable to tax in the case of an individual, Hindu undivided family (HUF) or a f
Ye To Jaitley Ka budget hain !!
INTRODUCTION : As we expect more from Budget but once again we have to wait for another year where we can expect that more changes will be done as per our expectation and Tax Payer will be Happy. As simple, the budget neither gives any benefits nor p
Benefits granted to start-ups in the budget 2016
The budget for the F.Y.2016-17, has been presented by the H�ble Finance Minister, Sh. Arun Jaitely Ji on 29th February, 2016. With a view to promote the Start-Up culture in India and to develop entrepreneurship, the F.M. has added a Special Pro
Changes in Abatement under Service Tax
Here we are giving you amendments related to Abatements in Service Tax Law.Abatements:The proposed rationalization in abatements shall come into effect from the 1st day of April, 2016.In cases where the tour operator is providing services solely of a
Budget Highlights 2016
Three major schemes have been introduced to help the underprivileged: Pradhan Mantri Fasal Yojana, Health insurance scheme, launching initiative to ensure LPG connection for BPL families. Focus to pass GST and bankruptcy c
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