CAclubindia News

Implementation of Eway bill postponed

01 February 2018 at 22:07

In view of difficulties faced by the trade in generating e-way bill due to initial tech glitches, it has been decided to extend the trial phase for generation of e-way bill, both for inter and intra-State movement of goods. It shall be made compulsor

Posted in GST | 29 comments | 35487 Views

Detailed provisions related to Direct taxes in Budget 2018

01 February 2018 at 15:18

The provisions of Finance Bill, 2018 relating to direct taxes seek to amend the Income-tax Act, 1961 (hereafter referred to as 'the Act') to continue to provide momentum to the buoyancy in direct taxes through deepening and widening of the ta

Posted in Union Budget & Policy | 7725 Views

Rates of income tax for income of AY 2018-19: Cess increased

01 February 2018 at 15:08

DIRECT TAXESA. RATES OF INCOME-TAXI. Rates of income-tax in respect of income liable to tax for the assessment year 2018-19.In respect of income of all categories of assessees liable to tax for the assessment year 2018-19, the rates of income-tax hav

Posted in Community & General | 1 comments | 13968 Views

Budget 2018 Speech by FM : Arun Jaitley

01 February 2018 at 14:31

Section IGovernance, Economy and DevelopmentMadam Speaker,1. I rise to present the Budget for 2018-19.2. Madam, four years ago, we pledged to the people of India togive this nation an honest, clean and transparent Government. Wepromised a leadership

Posted in Union Budget & Policy | 3948 Views

Payments exceeding Rs. 10,000/- in cash to be disallowed

01 February 2018 at 13:56

Stricter controls over small cash flow by companies; Payments exceeding Rs. 10,000/- in cash made by such entities shall be disallowedPosted On: 01 FEB 2018 1:16PM by PIB DelhiIn order to control the cash economy and increase TDS compliance, the Unio

Posted in Community & General | 11202 Views

Corporate tax reduced to 25% : Govt foregos 7000 crore revenue

01 February 2018 at 13:55

99% MSMEs to gain by Tax Incentives provided in General Budget 2018-19 The Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley has proposed a reduced rate of 25% to companies that have reported turnover up to Rs 250 crores in financia

Posted in Community & General | 1 comments | 4155 Views

Standard Deduction of Rs 40,000 allowed to Salaried Taxpayers

01 February 2018 at 13:53

Relief to salaried taxpayers: standard deduction of Rs 40,000 allowed in lieu of present exemptions2.5 Crores salaried employees and pensioners to benefitDifferently-Abled will continue to get transport allowance at enhanced rate In order to provide

Posted in Community & General | 1 comments | 9840 Views

Exemption of interest income on deposits increased to Rs 50,000 for senior citizens

01 February 2018 at 13:49

With the objective of providing a dignified life to senior citizens, the Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley, announced significant incentives for senior citizens.

Posted in Community & General | 5049 Views

LTCG on equity introduced at 10%

01 February 2018 at 13:44

Rationalisation of long term capital gains proposedRevenue gain of about Rs.20,000 crores expected in the first yearThe Union Finance and Corporate Affairs Minister Shri Arun Jaitley today proposed to tax long term capital gains exceeding Rs.1 lakh

Posted in Community & General | 4857 Views

E-assessment to be rolled out across the country

01 February 2018 at 13:32

E-assessment to be rolled-out across the country to transform age-old assessment procedureIn the General Budget 2018-19 presented in Parliament today, the Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley proposed to amend the Incom

Posted in Community & General | 1 comments | 3903 Views