"July, 2014" Archive - Page 30

Budget 2014- Major Highlights In Central Excise And Service Tax

- An additional duty of excise is being levied at the rate of 5% ad valorem on waters, including aerated waters, containing added sugar falling under chapter heading 2202 10 i.e. aerated waters [2202 10 10], lemonade [2202 10 20] and other [2202 10 90]....

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Service Tax Proposals – Budget 2014-15

Broadening the exemption for advertisement industry-(1) Service tax leviable currently on sale of space or time for advertisements in broadcast media, namely radio or television, has been extended to cover such sales on other segments like online and mobile advertising. Sale of space for advertisements in print media, however, would rem...

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Norms framed in budget 2014 to curtail fiscal deficit, is it a challenging task for the government???

Everyone has closely opened their eyes for budget which has announced by our Hon’ble Finance Minister Mr.Arun Jaitley for the F.Y. 2014-15. After hike in railway & oil prices people had not lose there hopes for ‘AACHE DIN’ & budget has also moved towards it to the extent. ...

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Posted Under: Excise Duty |

Budget 2014- Analysis of Income Tax Provisions – Start of Good Time

To Remove Tax Arbitrage Long-term Capital Gains on debt oriented Mutual Fund and its qualification as Short-term capital asset - Section 2(42A) Amended Unlisted security and a unit of a mutual fund (other than an equity oriented mutual fund) shall be a short-term capital asset if it is held for not more than 36 months. Accord...

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Budget 14- Permission to dispose of Plant and Machinery Supplied to UN Projects

CA Pradeep Jain , Ranu Dhoot Burdened with extraordinary expectations after a campaign that promised “good days are coming,” Prime Minister Narendra Modi’s center-right government presented the most hyped budget on Thursday aimed at increasing investment, improving infrastructure and reviving manufacturing, though it fel...

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Posted Under: Excise Duty |

India Budget 2014 -15 – In A Nutshell

Dr. Suresh Surana 1.0                DIRECT TAXES No change in the tax rates. No change in applicable Surcharge and Education Cess. Personal income tax exemption limit increased by Rs. 50,000 i.e. from Rs. 2,00,000 to Rs. 2,50,000 in the case of individual taxpayers who are below the age of 60 years. Similarly, the exemptio...

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Income Tax Calculator FY 2014-15 / AY 2015-16

This downloadable Income Tax Calculator, calculate Tax on your Income for for Financial Year 2014-15 / Assessment Year AY 2015-16 Automatically without any hassle. ...

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Income Tax Calculator For FY 2014-15 / AY 2015-16

Tax Proposals of Budget-2014 for Salaried and Retired People along with Automatic Income Tax Tax Calculator in Excel format for Financial Year 2014-15 or Assessment Year 2015-16. ...

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Analysis of Major Direct Tax Provisions of Finance Bill, 2014

Personal Income-tax exemption limit raised by Rs. 50,000/- that is, from Rs. 2 lakh to Rs. 2.5 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. This is very good initiative by the NDA Govt. since public is already suffering from the ...

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Posted Under: Excise Duty |

Synopsis of Proposed amendments in Direct Tax in Budget 2014

Tax Benefits/ Exemptions to Individual/ HUF Basic Exemption Limit for FY 2014-15 is increased to Rs. 250000/- for individuals (whether male or female) below 60 years of age. For persons of 60 years or above, the basic exemption limit is raised to Rs. 300000/- Limit for Deduction u/s 80C has been increased to Rs. 150000/-. […]...

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Posted Under: Excise Duty |