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Beginning November 9, 2016, there has been a surge in deposits relative to the expansion in bank credit, leading to large excess liquidity in the system. The magnitude of surplus liquidity available with the banking system is expected to increase further in the fortnights ahead.
With step-by-step progress towards Goods and Services Tax (GST), the Country is all set to witness the biggest indirect tax reform of unmatched importance in independent India. GST is a biggest game changing indirect tax reform for Indian economy, aimed at undoing Inter-State barriers to trade in goods and services by subsuming around 17 indirect taxes, viz. Excise Duty, Service Tax, VAT, CST, Luxury tax, Entry Tax, etc.
Senior Citizen Savings Schemes deposits are eligible for deduction under section 80C of Income Tax Act but interest earned on deposit is taxable.
Download Revised Model Draft GST Law as released by CBEC on 25.11.2016. Earlier, the Draft Model GST Law was put in public domain in the month of June, 2016 for comments.
CHAPTER– I PRELIMINARY 1. Short title, extent and commencement (1) This Act may be called the Integrated Goods and Services Tax Act, 2016. (2) It extends to the whole of India. (3) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint, and different dates […]
A Bill to provide for compensation to the States for loss of revenue arising on account of implementation of the goods and services tax for a period of five years as per Section 18 of The Constitution (One Hundred and First Amendment) Act, 2016.
Managing your personal finance is the key to to a happy and stable life. But it is not that easy in these uncertain times. There are many issues that complicate the matter further. And financial goals and needs are not same for everyone. So it is not possible to draw universal financial ratios that work for everyone.
India’s competitiveness has improved and India rose 16 ranks faster to climb to 39th place among 138 countries. However, there still remain substantial changes in the ease of doing business and the taxation system
