Follow Us :

Archive: 01 March 2015

Posts in 01 March 2015

Notification No. 42/2012-ST dated. 29.6.2012 rescinded

March 1, 2015 7618 Views 0 comment Print

NOTIFICATION. 3/2015-ST, Dated: March 01, 2015 In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby rescinds the notification of the Government of India in the Ministry of […]

Limit of deduction under 80CCC raised to Rs. 1.50 Lakh

March 1, 2015 24194 Views 0 comment Print

Budget 2015-16 – Raising the limit of deduction under Section 80CCC Under the existing provisions contained in sub-section (1) of the section 80CCC, an assessee, being an individual is allowed a deduction upto one lakh rupees in the computation of his total income, of an amount paid or deposited by him to effect or keep […]

Wealth Tax Returns not to be filed from Assessment Year 2016-17

March 1, 2015 12600 Views 0 comment Print

Abolition of levy of wealth-tax under Wealth-tax Act, 1957 Wealth-tax Act, 1957 (‘the WT Act’) was introduced w.e.f. 01.04.1957 on the recommendation of Prof. Nicholas Kaldor for achieving twin major objectives of reducing inequalities and helping the enforcement of Income-tax Act through cross checks. Accordingly, all the assets of the assessees were taken into account […]

Budget 2015- Section 80U deduction Limit Raised

March 1, 2015 59177 Views 18 comments Print

Raising the limit of deduction under Section 80U for persons with disability and severe disability The existing provisions of section 80U, inter alia, provide for a deduction to an individual, being a resident, who, at any time during the previous year, is certified by the medical authority to be a person with disability (as defined […]

Budget 2015- Section 80DD deduction Limit Raised

March 1, 2015 42432 Views 0 comment Print

Raising the limit of deduction under section 80DD for persons with disability and severe disability The existing provisions of section 80DD, inter alia, provide for a deduction to an individual or HUF, who is a resident in India, who has incurred— a) Expenditure for the medical treatment (including nursing), training and rehabilitation of a dependant, […]

Section 80DDB- Limit Raised & Relaxed Condition of Certificate

March 1, 2015 207241 Views 25 comments Print

Raising the limit of deduction under section 80DDB Under the existing provisions of section 80DDB of the Act, an assessee, resident in India is allowed a deduction of a sum not exceeding forty thousand rupees, being the amount actually paid, for the medical treatment of certain chronic and protracted diseases such as Cancer, full blown […]

Steps Being Taken for Increasing Financing to MSMES

March 1, 2015 327 Views 0 comment Print

Steps Being Taken for Increasing Financing to Micro, Small And Medium Enterprises (Msmes) Debt Financing: 1)     Loans to Medium Enterprises are being brought under Priority Sector Lending. 2)     A separate sub-limit of 7.5% in Priority Sector Lending is being created for the Micro Enterprises. 3)     RBI has received 72 application for setting up Small Banks.  […]

Changes proposed in priority sector lending (psl)

March 1, 2015 444 Views 0 comment Print

Changes proposed in priority sector lending (psl)-regarding Since the vision of Priority Sector Lending (PSL) first took shape, the structure of the Indian economy, the contribution by various sectors to GDP and the demographic profile has changed significantly. These emerging realities have also shaped the perception of national priorities. Total credit extended by Banks in […]

Step taken and to be taken by Govt for Banking Reforms

March 1, 2015 1266 Views 0 comment Print

Performance of Public Sector Banks has remained sub-optimal so far.  The Government is taking various steps to improve the situation both on governance side and otherwise.  The focus of these reforms is to improve the quality of deliberations in bank boards, leading to better asset quality and further resulting in better market valuations.

Section 80D- Hike in Deduction Limit for Mediclaim

March 1, 2015 209506 Views 20 comments Print

Amendment in section 80D relating to deduction in respect of health insurance premia The existing provisions contained in section 80D, inter alia, provide for deduction of a. upto fifteen thousand rupees to an assessee, being an individual in respect of health insurance premia, paid by any mode, other than cash, to effect or to keep […]

Search Post by Date
June 2024
M T W T F S S
 12
3456789
10111213141516
17181920212223
24252627282930