Budget 2014 - Page 7

Download Income tax Calculator for Financial year 1997-98 to 2014-15

CA Srikant Agarwal We are uploading here Excel file containing Income Tax calculator as modified by Finance Bill 2014 presented on 10TH July 2014. The above Income Tax calculator contains the rate of tax for last 18 financial year (i.e Financial year 1997-98 to 2014-15) and income tax calculator for last 9 years (i.e Financial […]...

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Budget 14- Cancellation of registration of the trust or institution in certain cases

The existing provisions of section 12AA of the Act provide that the registration once granted to a trust or institution shall remain in force till it is cancelled by the Commissioner. The Commissioner can cancel the registration under two circumstances: (a)     the activities of a trust or institution are not genuine, or; (b)     ...

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Posted Under: Income Tax |

Budget 2014-15 and its Impact on Various Sectors

FM Arun Jaitley said that Modi govt budget for middle class is committed to lower taxes and lower taxes gave people money to spend which in turn helps in economic growth. FM Hikes Income Tax exemption limit in personal income tax from Rs 2 lakh to 2.5 lakh, tax exemptions limit in investments under 80C from Rs 1 lakh to Rs 1.5 lakh and i...

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Posted Under: Income Tax |

10 Income Tax changes affecting your investments/personal finance strategy

Impact of Budget (Income Tax Amendments) on your investments/personal finance strategy: There were few changes (amendments) of Income tax in the current budget. Major highlighted were Change in Tax Slab (from Rs. 2Lakhs to Rs. 2.5Lakhs for Individuals) Increase of limit U/s. 80C (savings) – from Rs. 1Lakh to Rs. 1.5Lakh Increase in dedu...

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Posted Under: Income Tax | ,

Budget 2014 – Mutual Funds, Securitisation Trusts and Venture Capital Companies or Venture Capital Funds to file return of income

The existing provisions contained in section 139 of the Act provide that every person being a company or a firm or being a person, other than a company or firm, if his total income or the total income of any other person in respect of which he is assessable under this Act during the previous […]...

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Posted Under: Income Tax |

Government may look at amending Companies Act if needed: Nirmala Sitharaman

Amendments in Companies Act Companies Act 2013 has been enacted only last year and so far a little more than half of its provisions have come into force. Matters arising from the operation of provisions already brought in force are getting attention of Government in the form of issue of circulars, suitable statutory orders and […]...

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Posted Under: Income Tax |

Download Free e-book on Service Tax Updated till 15th July 2014

Please find attached 9th Edition of the Book on Service Tax (incorporating changes upto 15th July 2014). The book contains: - Articles on Budget 2014 changes (refer Chapter 20) - Amended legal provisions aongwith recent judicial precedences - Forewords by Shri V K Garg (Ex-Joint Secretary, TRU) ...

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Government Heading Towards E-Collection of Taxes

With effect from 01.10.2014, every assessee will be required to pay excise duty and service tax payable by him electronically through internet banking and there is no other option available except in certain peculiar circumstances. Therefore, with the technological advancement, the government has also adopted advanced means of revenue col...

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Posted Under: Income Tax |

Union Budget 2014-2015 – Highlights of Finance (No. 2) Bill, 2014

The recently appointed Finance Minister of India, Mr. Arun Jaitley, faced with the various challenges of reviving the growth of the ailing Indian economy, ever ballooning fiscal deficit, high inflation and standing to fulfill the promises made by the newly elected NDA government in their election manifesto, appears to have maneuvered the ...

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Posted Under: Income Tax | ,

Extending Advance Ruling to Resident Private Limited Companies

As per provisions relating to Advance Rulings contained in section 23C of the chapter III A of central Excise Act, 1944, and similar provisions contained in Section 96A of the Finance Act, an applicant desirous of obtaining an advance ruling may make an application in such form and in such manner as may be prescribed, stating the question...

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Posted Under: Income Tax |

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