Income Tax news

Download Union Finance Budget 2018

Download Union Finance Budget 2018 as presented by Finance Minister Arun Jaitley today in Lok Sabha AS INTRODUCED IN LOK SABHA ON 1ST FEBRUARY, 2018 Bill No. 4 of 2018 THE FINANCE BILL, 2018 Download Union Finance Budget 2018...

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Posted Under: Income Tax |

Invitation to Submit Articles on Union Budget 2018

TAXGURU invites you to be a part of ‘BUDGET 2018 Knowledge Sharing Campaign‘. The campaign has been initiated with the intent of congregating an overview on The Union Budget 2018. This would enable professionals all over the country to understand what is expected of the said budget and will enlighten them about the changes mad...

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Posted Under: Income Tax |

Cash withdrawals from bank do not attract Section 269ST Penalty

It has also been decided that the restriction on cash transaction under section 269ST shall not apply to withdrawal of cash from a bank, co­operative bank or a post office savings bank....

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Download Finance Bill 2017 as passed by Lok Sabha

Lok Sabha passes  Finance bill 2017 on 22.03.2017 with 189 Amendments to following Acts and 9 related schedules:- Income Tax Act, 1961 and Rules Custom Act,1962 Excise Duty Act, 1944 Finance Act, 1994 The Indian Trusts Act, 1882 The Indian Post Office Act, 1898 The Reserve Bank Of India Act, 1934 The Representation Of The […]...

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Download Amendments to Finance Bill 2017 As Introduced In Lok Sabha

Union Government has proposed several amendments to Finance Bill 2017 presented in Lok Sabha on 01.02.2017 by introducing notice of amendment to finance bill 2017 Lok Sabha on 01.02.2017. Some of the important amendment proposed are as follows :- 1. Appointment of, and remuneration to, the ITAT Member 2. Make Aadhar card mandatory for fil...

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Need to raise Personal Income Tax-GDP ratio : Revenue Secretary

Most challenging task for the government is to increase the share of personal income tax in GDP, which at present was abysmally low. He said that personal income tax has a share of a mere two per cent, which needs to be raised substantially. ...

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Posted Under: Income Tax |

Adverse impact of demonetisation on GDP will be transitional

GDP growth in 2017-18 is projected at 6 ¾ to 7 ½ percent Post-demonetisation. Middle class to get affordable housing due to fall in Real Estate prices. Remonetisation to eliminate cash squeeze by April 2017....

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Posted Under: Income Tax |

Business like budget; high on reforms, rural demand & infra

ASSOCHAM congratulated PM and FM for giving a truly workman and business-like Budget, with a great focus on rural economy, small and medium enterprises, small income tax payers and importantly bringing reforms in political funding....

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Budget 2017 directionally correct, fiscally prudent : FICCI

Union Budget 2017-18 will strengthen the economic muscle of the country It is directionally correct, fiscally prudent and strengthens the governance fabric of the nation...

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Posted Under: Income Tax |

Tax Rate 5% for individual income between Rs 2.5 to Rs 5 lakh

FM reduced rate of taxation from existing 10 per cent to 5 per cent for individual assesses between income of Rs 2.5 lakhs to Rs 5 lakhs. This would reduce tax liability of all persons below Rs 5 lakh income either to zero (with rebate) or 50 per cent of their existing liability....

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