Income Tax

Income Tax Relief for Individuals For FY 2017-18 (adsbygoogle = window.adsbygoogle || []).push({}); Today on 01/02/2017 the Finance Minister Shri Arun Jaitley presented the union budget for the F.Y. 2017-18. After the Demonetisation everyone was expecting that the income tax slabs shall be increased but contrary to the expectations income tax slabs remain unchanged for … Read more

Income Tax Slab For FY 2017-18 (Assessment Year 2018-19) (adsbygoogle = window.adsbygoogle || []).push({}); Today on 01/02/2017 the Finance Minister Shri Arun Jaitley presented the union budget for the F.Y. 2017-18 and as expected after the Demonetisation, For AY 2018-19 (FY 2017-18), the Income Tax Slabs have not been changed, only some relief has been provided in … Read more

S.O.4059(E).—In exercise of the powers conferred by sub-section (1) and sub-section (2) of section 199R of the Finance Act, 2016 (28 of 2016), the Central Board of Direct Taxes, subject to the control of the Central Government hereby makes the following rules, namely  1. Short title and commencement.—(1) These rules may be called the Taxation and … Read more

Pradhan Mantri Garib Kalyan Deposit Scheme, 2016 (adsbygoogle = window.adsbygoogle || []).push({}); S.O.4061 (E).—In exercise of the powers conferred by clause (c) of section 199B of the Finance Act, 2016 (28 of 2016) (hereinafter referred to as the Act), the Central Government in consultation with the Reserve Bank of India hereby notifies the following Scheme, … Read more

FAQ on Online GST Registration 1. Who is an existing taxpayer? An existing taxpayer is an entity currently registered under any State or Central laws, like Value Added Tax Act, Central Excise Act and Service Tax Act. Existing taxpayers include taxpayers already registered under :- ·         Central Excise ·         Service Tax ·         State Sales Tax … Read more

Procedure For GST Registration Online Introduction Goods and Service Tax (GST), which is often known as a historic reform is now around the corner. After President gives his assent on 8th September 2016, the Government is firing all cylinders to implement GST by 1st April 2017.  However, the implementation will be little early for the existing tax … Read more

Key Highlights of Benami Transactions (Prohibition) Amendment Act, 2016 – A Brief Introduction (adsbygoogle = window.adsbygoogle || []).push({}); The Income Tax department has notified that the Benami Transactions (Prohibition) Amendment Act, 2016 (BTP Amendment Act), will come into force from 1st November 2016. The new law seeks to give more teeth to the authorities to … Read more

Income Tax Implications on Deposition Rs 500 and Rs 1000 Notes in Bank Account (adsbygoogle = window.adsbygoogle || []).push({}); Addressing the nation on 08/11/2016 Prime Minister Shri Narendra Modi has announced demonetisation of Rs 500 and Rs 1,000 currency notes. Modi said that starting tonight the Rs 500 and Rs 1000 notes will only be … Read more

Income Tax Slab Rates for FY 2016-17 (Assessment Year 2017-18) (adsbygoogle = window.adsbygoogle || []).push({}); Comparison of Income Tax Rates for FY 2016-17 Vs. FY 2015-16 The income tax slabs for all category of tax payers remain unchanged for the F.Y 2016-17 (A.Y.2017-18) as compared to F.Y 2015 -16 (A.Y.2016-17). However following extra tax reliefs are given to middle … Read more