Budget 2017 news

Central Govt completes Budget related processes before 1st April

Lok Sabha Speaker congratulates the Prime Minister, Union Finance Minister, Members of Union Cabinet, Members of Lok Sabha and Officers and Staff of Lok Sabha Secretariat, Ministry of Finance & Parliamentary Affairs for completing all the Budget related processes before 1st April;...

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Cash withdrawals from bank do not attract Section 269ST Penalty

It has also been decided that the restriction on cash transaction under section 269ST shall not apply to withdrawal of cash from a bank, co­operative bank or a post office savings bank....

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Download Taxation Laws (Amendment) Bill, 2017 As introduced in Lok Sabha

THE TAXATION LAWS (AMENDMENT) BILL, 2017 A BILL further to amend the Customs Act, 1962, the Customs Tariff Act, 1975, the Central Excise Act, 1944, the Finance Act, 2001 and the Finance Act, 2005 and to repeal certain enactments....

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Posted Under: Finance |

Download Finance Bill 2017 as passed by Lok Sabha

Lok Sabha passes  Finance bill 2017 on 22.03.2017 with 189 Amendments to following Acts and 9 related schedules:- Income Tax Act, 1961 and Rules Custom Act,1962 Excise Duty Act, 1944 Finance Act, 1994 The Indian Trusts Act, 1882 The Indian Post Office Act, 1898 The Reserve Bank Of India Act, 1934 The Representation Of The […]...

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Download Amendments to Finance Bill 2017 As Introduced In Lok Sabha

Union Government has proposed several amendments to Finance Bill 2017 presented in Lok Sabha on 01.02.2017 by introducing notice of amendment to finance bill 2017 Lok Sabha on 01.02.2017. Some of the important amendment proposed are as follows :- 1. Appointment of, and remuneration to, the ITAT Member 2. Make Aadhar card mandatory for fil...

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ICSI Invites Suggestions for Post-Budget Memorandum 2017-18

As you all are aware that the Union Budget 2017-18 presented in the Parliament on 1st February, 2017 contains various proposed changes in the Finance Bill, 2017. The Institute has submitted the Pre-Budget Memorandum 2017-18 to the Ministry of Finance on 31st October, 2016. ...

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Posted Under: Finance |

ICAI submits Post-Budget Memorandum-2017

In this memorandum, suggestions on the specific clauses of the Finance Bill, 2017 relating to Income-tax Act have been given in detail....

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Posted Under: Finance |

No proposal to levy 5% service tax on healthcare services

Central Government has clarified that there is NO proposal in the Union Budget 2017-18 to levy 5% Service Tax on Healthcare Services, as reported in certain Social Media circles....

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Posted Under: Finance |

Need to raise Personal Income Tax-GDP ratio : Revenue Secretary

Most challenging task for the government is to increase the share of personal income tax in GDP, which at present was abysmally low. He said that personal income tax has a share of a mere two per cent, which needs to be raised substantially. ...

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Budget 2017 focuses on educational empowerment & skill development of Minorities

Shri Mukhtar Abbas Naqvi has said that the Union Budget (General) 2017-18 will be helpful in socio-economic-educational empowerment of Minorities. Shri Naqvi said that the Budget of Minority Affairs Ministry has been increased to Rs 4195.48 crore for 2017-18. This is Rs 368.23 crore more than 2016-17 Budget of Rs 3827.25 crore with an inc...

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Posted Under: Finance |
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