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Goods and Services Tax : Govt. sets October 1, 2024, for Finance Act 2024, Section 13; April 1, 2025, for Sections 11 and 12, under Notification No. 16/202...
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Custom Duty : Notification No. 39/2024-Customs amends No. 45/2017-Customs to extend re-import period from 3 to 5 years, effective from 24th July...
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The application fee for seeking advance ruling is to be increased from rupees two thousand five hundred(Rs 2500/-) to rupees ten thousand(Rs.10,000/-) on the lines of the Income Tax Act.( Section 96C(3) of the Finance Act, 1994)
The budget 2017 has proposed changes to the tax legislation which aims to further incentivize the start-up companies. This article aims to provide an insight to some of the significant tax proposals having an impact in the start-up segment.
Auto Income Tax Calculator for Financial Year (FY) 2017-18 / Assessment Year (AY) 2018-19 in Excel Format after considering proposed amendment in Tax Rates, Deductions and Rebates vide Union Budget 2017-18.
Central Government has clarified that there is NO proposal in the Union Budget 2017-18 to levy 5% Service Tax on Healthcare Services, as reported in certain Social Media circles.
In this article an attempt has been made to peep into scope of some important direct tax proposals contained in Budget 2017 as under
Section 269ST as being proposed in the budget 2017, makes acceptance of Rs. 3,00,000/- in cash as an offence. There are no caveats like it is applicable only for business receipt etc.
Direct tax proposal – highlights:- Personal Taxation, Corporate Taxation, Penal Provisions, Capital Gain Taxation, Cash Proposal to reduce Cash Transactions and promote Digital Economy, Tax Deduction At Source (TDS), Business Taxation
The tax proposals, both direct and indirect, are aimed at the following major reform areas: 1. Measures for Promoting Affordable Housing and Real Estate Sector 2. Measures for Stimulating Growth 3. Promoting Digital Economy 4.Transparency in Electoral Funding 5. Ease of Doing Business
The Union Budget was presented on 1st February, 2017 by Indias Finance Minister Arun Jaitely. After the event of demonetisation, Union Budget 2017-18 was an extremely high-focus event.
Income Tax slabs are not changed, but the tax rate for first taxable slab of income from Rs. 2,50,001/Rs. 3,00,001 to Rs. 5,00,000 is decreased from 10% to 5%. So, now there will be directly a slab of 20% after the slab of 5% tax. As in the case of very senior citizens
