Community & General News
ICAI reacts to Budget 2016
01 March 2016 at 10:23ICAI 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
Tax Proposals aims at Boosting Economic Growth and Employment Generation
29 February 2016 at 15:26The 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.
Measures for promoting affordable housing
29 February 2016 at 14:44While presenting the General Budget 2016-17 in Lok Sabha today, the Union Finance Minister Shri Arun Jaitley proposed to give 100% deduction for profits to an undertaking from a housing project for flats upto 30 sq. metres in four metro cities and 60
Detailed changes related to service tax in Budget
29 February 2016 at 14:21Changes relating to Service Tax - reg. - Union Budget 2016
Exemption from requirement of furnishing PAN under section 206AA to certain non-resident
29 February 2016 at 14:54Exemption 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
Presumptive taxation scheme for persons having income from profession
29 February 2016 at 14:49Introduction 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
Deduction allowable increased in respect of rents paid under Section 80GG
29 February 2016 at 14:51Rationalization 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
Detailed provisions relating to Direct taxes
29 February 2016 at 13:48PROVISIONS RELATING TO DIRECT TAXES- FINANCE BILL, 2016
The Finance Bill 2016
29 February 2016 at 14:33THE FINANCE BILL, 2016
Fiscal Deficit Retained at 3.9 percent
29 February 2016 at 13:39Fiscal Deficit Retained at 3.9 percent in RE 2015-16 and at 3.5 percent in BE 2016-17 Adhering to the fiscal targets, the fiscal deficit in RE 2015-16 and BE 2016-17 have been retained at 3.9% and 3.5% of GDP respectively. While presenting the Gener
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