Finance Minister Arun Jaitley has Presented his 3rd Union Budget today in Lk Sabha. Vide this Budget Finance Minister has proposed Changes in around 150 Provisions. We have attached herewith copy of Finance Bill 2017 i.e. Union Budget 2017 as presented in Lok Sabha for ready reference of Our readers. Click here to Download Copy of […]
In the last two and half years administration has moved from discretionary, favouritism based to system and transparency based Inflation brought under control. CPI-based inflation declined from 6% in July 2016 to 3.4% in December, 2016
Budget 2017-2018 Speech of Arun Jaitley Minister of Finance February 1, 2017 Madam Speaker, On this auspicious day of Vasant Panchami, I rise to present the Budget for 2017-18. Spring is a season of optimism. I extend my warm greetings to everyone on this occasion. 2. Madam Speaker, our Government was elected amidst huge expectations […]
The list of Budget documents presented to the Parliament, besides the Finance Ministers Budget Speech, are the following
We are largely a tax non-compliant society & the burden of tax-evaders falls on honest taxpayers : FM Rate of growth in advance tax in personal income tax in last 3 quarters of this financial year is as high as 34.8% 76 lakh individuals reported income over Rs 5 lakh, 56 lakh of them are […]
Once the shares of the beneficiaries are found to be determinable, the income is to be taxed of that respective sharer or the beneficiaries in the hands of the beneficiary and not in the hands of the Trustees which has already been shown in the present case.
Section 35AC- Notifies the various institutions Approved by the National Committee – Income Tax Notification No. 3/2017 – Dated 1-2-2017
By no interpretative process the explanation to Section 164 of the Act, which is pressed in service can be read for determinability of the shares of the beneficiary with the quantum on the date when the Trust deed is executed and the second reason is that the real test is the determinability of the shares […]
The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval for introduction of The Indian Institutes of Information Technology (Amendment) Bill, 2017 in Parliament.
Hon’ble Finance Minister Shri Arun Jaitley tabled today Economic Survey Report 2017 in the Parliament, outlining the broad direction of the Union Budget 2017 and the economic performance of the Country.
