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Personal Tax Exemption Limit Raised by Rs. 50,000
10 July 2014 at 16:38Personal Tax Exemption Limit Raised by Rs. 50,000/- ; No Change in the Rate of Surcharge; 15% Investment Allowance to Manufacturing Companies, to Incentivize Small Entrepreneurs and Income from Foreign Portfolio Investors to be Treated as Capital Gai
Kisan Vikas Patra (KVP) Re-Introduced
10 July 2014 at 16:31Kisan Vikas Patra (KVP) is being re-introduced to encourage people, who may have banked and unbanked savings to invest in this instrument. Announcing this during his maiden Budget Speech in the Lok Sabha today, the Finance Minister Shri Arun Jaitley
Key Features of Budget 2014-2015
10 July 2014 at 15:51THE CURRENT ECONOMIC SITUATION AND THE CHALLENGES Decisive vote for change represents the desire of the people to grow, free themselves from the curse of poverty and use the opportunity provided by the society. Country in no mood to suffer un
Basic Custom Duties Reduced on Certain Items to Encourage Investment and Domestic Production
10 July 2014 at 15:51To boost domestic manufacture and to address the issue of inverted duties, the General budget 2014-15 has reduced basic customs duty (BCD) on certain items. To encourage new investment and capacity addition in the chemicals and petrochemicals sector,
Indirect Tax Proposals in Budget 2014
10 July 2014 at 15:51INDIRECT TAXES PROPOSALS To boost domestic manufacture and to address the issue of inverted duties, basic customs duty (BCD) reduced on certain items. To encourage new investment and capacity addition in the chemicals and petrochemicals
More Services Bought in the Service Tax Net, Indirect Taxes to Yield Rs.7525 Crore
10 July 2014 at 15:51To broaden the tax base in Service Tax, sale of space or time for advertisements in broadcast media has been extended to cover such sales on other segments like online and mobile advertising. Announcing the tax proposals, the Finance Minister Shri Ar
Direct Tax Proposals in Budget 2014
10 July 2014 at 15:07Personal Income-tax exemption limit raised by Rs50,000/- that is, from 2 lakh to Rs2.5 lakh in the case of individual taxpayers, below the age of 60 yeaRs Exemption limit raised from Rs 2.5 lakh to Rs 3 lakh in the case of senior citizens.
Enactment of Indian Financial Code Necessary for Better Governance and Accountability: FM
10 July 2014 at 14:24The Finance Minister Shri Arun Jaitley in his maiden Budget Speech advised financial sector regulators to take early steps for a vibrant, deep and liquid market. Shri Jaitley also proposed to extend a liberalized facility of 5% withholding tax to all
Fresh Cases Arising Out of Retrospective Amendments of 2012 to be Scrutinised by High Level Committee: FM
10 July 2014 at 14:24All fresh cases arising out of the retrospective amendments of 2012 in direct transfers will be scrutinized by High level committee to be constituted by the CBDT before any action is initiated in such cases. Announcing this during his Budget Speech i
Legislative and Administrative Changes Proposed to Reduce Litigation in Direct Taxes
10 July 2014 at 14:20Government has proposed certain legislative and administrative changes with a view to reduce litigation in direct taxes. Announcing this in his maiden Budget Speech in the Parliament today, the Union Finance Minister Shri Arun Jaitley said that resid
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