tax rate changes

Chart of Services Under Reverse Charge as approved by GST Council

Goods and Services Tax - Click here to join Online GST Certification Course Jointly by GST Professionals & Taxguru.in Articles covers list of services that will be under reverse charge as approved by the GST Council and Percentage of GST payable by service provider and any person other than Nthe service provider. SERVICES UNDER REVERSE CHARGE AS APPROVED BY G...

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Reduce tax rate to 25% for LLPs, Firms Converted in Companies & to new Companies

Goods and Services Tax - Reduction in corporate tax rate - Reduced corporate tax rate to be applicable for erstwhile firms recently converted into companies and also LLPs and companies which were set up subsequent to P.Y.2015-16...

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Remove 10% Surcharge on individual/HUF/AOP/BOI having Income exceeding Rs 50 lakhs

Goods and Services Tax - Surcharge @ 10% is proposed in cases where total income of an individual/HUF/AOP/BOI exceeds Rs.50 lakhs but do not exceed Rs. 1 crore. Surcharge of 15% would continue to be applicable where the total income of an individual/HUF/AOP/BOI exceeds Rs 1 crore....

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Income Tax Rates for Financial Year 2016-17

Goods and Services Tax - Click here to join Online GST Certification Course Jointly by GST Professionals & Taxguru.in In this Article we updates about the normal tax rates applicable to different types of taxpayers. The tax rates discussed in this part are applicable for assessment year 2017-18 i.e. financial year 2016-17. Normal tax rates applicable to an in...

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Income Tax Rates / Slab / Chart for A.Y. 2016-17 & 2017-18

Goods and Services Tax - Click here to join Online GST Certification Course Jointly by GST Professionals & Taxguru.in This article contains Income Tax Rates/Slab/ Chart for Assessment Year 2016-17 & 2017-18 payable by Individual (resident or non-resident) or HUF or Association of Person or Body of Individual or any other artificial juridical person, Partn...

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Tax Rate 5% for individual income between Rs 2.5 to Rs 5 lakh

Goods and Services Tax - FM reduced rate of taxation from existing 10 per cent to 5 per cent for individual assesses between income of Rs 2.5 lakhs to Rs 5 lakhs. This would reduce tax liability of all persons below Rs 5 lakh income either to zero (with rebate) or 50 per cent of their existing liability....

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Custom duty relief for importing digital films: Budget 2010-2011

Goods and Services Tax - The Union Budget 2010-11 proposes to rationalize the differential custom duty structure for importing digital masters of films for duplication or distribution in electronic medium and in cinematographic film. Henceforth custom duty would be charged only on the value of the carrier medium....

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Micro-wave ovens, pre-packaged imported goods, mobile phones, watches, ready made garments, toy balloons, long pepper, replaceable household water filters to be cheaper

Goods and Services Tax - Outright exemption from special additional duty provided to goods imported in a pre-packaged form for retail sale. This would also cover mobile phones, watches and ready-made garments even when they are not imported in pre-packaged form. The refund-based exemption is also being retained for cases not covered by the new dispensation. ...

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Infotainment sector to benefit from concessional customs duty: Budget 2010-11

Goods and Services Tax - The Union Budget 2010-11 seeks to address the needs of multi-service operators to invest in ‘Digital Head End’ equipment to adopt digital technology and keep pace with on-going transformation in infotainment sector. Shri Pranab Mukherjee, the Union Finance Minister announced project import status at a concessional customs duty of 5 p...

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Major tax relief to agriculture & related sectors: Budget 2010-11

Goods and Services Tax - Project import status at a concessional customs duty of 5 per cent with full exemption from service tax to the initial setting up and expansion of Cold storage, cold room including farm pre-coolers for preservation or storage of agriculture and related sectors produce; and Processing units for such produce;...

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Custom duty notifications dated 27.02.2010 related to Union budget 2010-11 amendments and provisions

NA - (28/02/2010) - All the Custom duty Notification including Tariff and Non Tariff issued by Custom department in respect of budget proposals/provisions in Union Budget 2010-11. Read our earlier Post on Major Amendment in Custom Duty made in Budget 2010-11 at the Link given below:-Budget 2010-11: Summary of Major Ame...

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Recent Posts in "tax rate changes"

Chart of Services Under Reverse Charge as approved by GST Council

Click here to join Online GST Certification Course Jointly by GST Professionals & Taxguru.in Articles covers list of services that will be under reverse charge as approved by the GST Council and Percentage of GST payable by service provider and any person other than Nthe service provider. SERVICES UNDER REVERSE CHARGE AS APPROVED BY G...

Read More
Posted Under: Income Tax | ,

Reduce tax rate to 25% for LLPs, Firms Converted in Companies & to new Companies

Reduction in corporate tax rate - Reduced corporate tax rate to be applicable for erstwhile firms recently converted into companies and also LLPs and companies which were set up subsequent to P.Y.2015-16...

Read More
Posted Under: Income Tax | ,

Remove 10% Surcharge on individual/HUF/AOP/BOI having Income exceeding Rs 50 lakhs

Surcharge @ 10% is proposed in cases where total income of an individual/HUF/AOP/BOI exceeds Rs.50 lakhs but do not exceed Rs. 1 crore. Surcharge of 15% would continue to be applicable where the total income of an individual/HUF/AOP/BOI exceeds Rs 1 crore....

Read More
Posted Under: Income Tax |

Tax Rate 5% for individual income between Rs 2.5 to Rs 5 lakh

FM reduced rate of taxation from existing 10 per cent to 5 per cent for individual assesses between income of Rs 2.5 lakhs to Rs 5 lakhs. This would reduce tax liability of all persons below Rs 5 lakh income either to zero (with rebate) or 50 per cent of their existing liability....

Read More
Posted Under: Income Tax | ,

Income Tax Rates for Financial Year 2016-17

Click here to join Online GST Certification Course Jointly by GST Professionals & Taxguru.in In this Article we updates about the normal tax rates applicable to different types of taxpayers. The tax rates discussed in this part are applicable for assessment year 2017-18 i.e. financial year 2016-17. Normal tax rates applicable to an in...

Read More
Posted Under: Income Tax |

Income Tax Rates / Slab / Chart for A.Y. 2016-17 & 2017-18

Click here to join Online GST Certification Course Jointly by GST Professionals & Taxguru.in This article contains Income Tax Rates/Slab/ Chart for Assessment Year 2016-17 & 2017-18 payable by Individual (resident or non-resident) or HUF or Association of Person or Body of Individual or any other artificial juridical person, Partn...

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Posted Under: Income Tax | ,

Service Tax Rates as applicable from 1st June 2016

In this article we have compiled Generic Service Tax Rate Applicable on all Taxable Services, Service Tax on Non Taxable Services , Wholly Exempted Services, Rate of Service Tax post 01.06.2016 in case of Abated services, Effective Rate of Service Tax post 01.06.2016 in case of Valuation , Rate of services where alternate rate is provided...

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Posted Under: Income Tax | ,

Revised TDS / TCS Compliance and Rates w.e.f. 01.06.2016

Click here to join Online GST Certification Course Jointly by GST Professionals & Taxguru.in  Hunny Kuchhal Revised Compliance Regarding TDS w.e.f. 01.06.2016- Comprehensive & Comparative Analysis Under the scheme of deduction of Tax at Source as provided in the Act, every person responsible for payment of any specified sum to an...

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Posted Under: Income Tax | ,

Option to pay Tax for Companies from assessment year 2017-18

Click here to join Online GST Certification Course Jointly by GST Professionals & Taxguru.in CA Goutham. D. Pipada Domestic Company: New Manufacturing Company to be incorporated Incorporated on or after 1st March 2016 Incorporated between 1st April 2016 upto 31st March 2019 Option 1: To pay tax @ 25%, subject to following conditions n...

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Posted Under: Income Tax |

Income Tax Slabs for FY 2016-17 / AY 2017-18

Income Tax Slab 2017-18: Income Tax Slabs / Rate Chart for Assessment Year 2017-18 / F.Y. 2016-17 for Individual HUF AOP BOI Partnership Firms LLP Companies...

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Posted Under: Income Tax | ,
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