CAclubindia Articles

Excise duty studded on jewellery by Budget,2016

Posted by Pradeep Jain 03 March 2016 6523 Views

Introduction:-It is the most expensive amendment ever� Yes, now by virtue of amendments made by Budget, 2016; excise duty is being levied on articles of jewellery [excluding silver jewellery, other than studded with diamonds/other precious sto

Budget: Giving a much needed fillip to Startups

Posted by CA.Mohit Gupta 03 March 2016 4349 Views

GIVING A MUCH NEEDED FILLIP TO THE �START UPS�The much awaited Union Budget 2016 has finally been unveiled by the Hon'ble finance minister,expatiating on a series of policy initiatives and schemes that aim at encouraging startups an

Only EPF interest to attract tax, withdrawals will be exempted

Posted by Sandeep Jadhav 03 March 2016 8426 Views

Only interest accrued on 60% of the contributions to the Employee Provident Fund after April 1, 2016 will be taxed while the principal amount will remain tax exempt, revenue Secretary Hasmukh Adhia clarified on Tuesday after uproar over the governmen

All amendments of service tax and their date wise applicability

Posted by Guest 02 March 2016 26912 Views

LIST OF CHANGES BEING MADE AND THE DATES ON WHICH THEY WOULD COME INTO EFFECT.Here we are giving summery of all the amendments of service tax according to their applicability.A. With immediate effect (from 01.03.2016) (i) Restoration of exemption on

Perspective on budget 16 and currency market

Posted by Rahul Magan 02 March 2016 4782 Views

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

Posted by CA Dhruva Kalamanji 02 March 2016 8796 Views

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

Posted by gautam singh 02 March 2016 11552 Views

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

Posted by SAMEER AHMED 02 March 2016 42765 Views

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

Posted by Guest 01 March 2016 27062 Views

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

Posted by CA RANJEET AGARWAL 01 March 2016 82686 Views

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