CAclubindia News

CBDT clarifies various provisions of the IT Act for reducing litigation

04 March 2016 at 11:09

CBDT clarifies various provisions of the Income-tax Act for reducing litigation and easing burden of compliance The Central Board of Direct Taxes (CBDT) has taken a number of decisions to clarify the applicability of various provisions of the Incom

Posted in Income Tax | 11460 Views

No change in the existing tax treatment of PPF after budget

01 March 2016 at 17:17

Clarification about Changes made in the Tax Treatment for Recognised Provident Fund & National Pension System (NPS) There seems to be some amount of lack of understanding about the changes made in the General Budget 2016-17 in the tax treatment

Posted in Community & General | 15366 Views

Budget Highlights Indirect taxes

01 March 2016 at 11:48

Amendments made effective immediately� The Clean Energy cess is to be renamed as Clean Environment cess. The effective rate of Clean Energy cess proposed to be increased from Rs.200 per tonne to Rs.400 per tonne .� Infrastructure cess is to

Posted in Community & General | 1 comments | 18984 Views

Significant changes in International Taxation after Budget

01 March 2016 at 11:48

Significant Budget Highlights 2016-17- International Taxation 1. Increase in Surcharge Surcharge is increased from 12% to 15% in case of non-resident individuals

Posted in Community & General | 4 comments | 12912 Views

ICAI reacts to Budget 2016

01 March 2016 at 10:23

ICAI Reaction: Union Budget 2016-17 Small Taxpayers Reducing income-tax burden by Rs.3,000 for small tax payers by increasing rebate under section 87A; Increasing deduction for rent payment under section 80GG to Rs. 60,000/-; Introducing

Posted in Community & General | 8 comments | 21216 Views

Tax Proposals aims at Boosting Economic Growth and Employment Generation

29 February 2016 at 15:26

The Union Finance Minister Shri Arun Jaitley announcing the tax proposals in the Union Budget today said boosting employment generation through economic growth is a main objective behind these proposals.

Posted in Community & General | 8520 Views

Measures for moving towards a pensioned society

29 February 2016 at 14:55

Measures for moving towards a pensioned society While presenting the General Budget 2016-17 in Lok Sabha today, the Union Finance Minister Shri Arun Jaitley said that pension schemes offer financial protection to senior citizens. He proposed to make

Posted in Community & General | 6969 Views

Exemption from requirement of furnishing PAN under section 206AA to certain non-resident

29 February 2016 at 14:54

Exemption from requirement of furnishing PAN under section 206AA to certain non-resident.The existing provision of section 206AA, inter alia, provides that any person who is entitled to receive any sum or income or amount on which tax is deductible u

Posted in Community & General | 2 comments | 12633 Views

Deduction allowable increased in respect of rents paid under Section 80GG

29 February 2016 at 14:51

Rationalization of limit of deduction allowable in respect of rents paid under Section 80GGThe existing provisions of Section 80GG provide for a deduction of any expenditure incurred by an individual in excess of ten per cent of his total income towa

Posted in Community & General | 1 comments | 11544 Views

Presumptive taxation scheme for persons having income from profession

29 February 2016 at 14:49

Introduction of Presumptive taxation scheme for persons having income from professionThe existing scheme of taxation provides for a simplified presumptive taxation scheme for certain eligible persons engaged in certain eligible business only and not

Posted in Community & General | 4 comments | 11949 Views