Tax Structure and rates of Income-Tax as per Finance Act, 2016
CBDT definition for Tax Structure and rates of Income-Tax as per Finance Act, 2016 – Ministry of Finance Circular dated 02.01.2017
Income Tax Exemption needs to be raised to Rs. 7.5 lakh – Bank Union demands
Income Tax Exemption needs to be raised to Rs. 7.5 lakh – AIBEA request to Mr.Jaitley, FM for Ceiling on IT for salaried persons should be raised to Rs.7.5 lakh
Budget 2017 – Centre needs to clarify its stand on income tax Act
What is required is a pragmatic approach to the issue if the letter of the law gives rise to such unreasonable consequences.
SBI calls for Raising Income Tax Exemption Limits
Underlining that “the Government must shift its fiscal objective”, the SBI pegged the fiscal deficit target for 2017-18 at Rs 5.75 lakh crore, equivalent to 3.4 per cent of the country’s GDP.
Tweak Income Tax slabs – A Budget Agenda for Common Man
While the government wanted to catch the income tax evaders and the corrupt, the law-abiding, tax-paying common people ended up facing maximum hassles.
Submit your Income Tax PAN details on or before 15th Feb 2017 to your bank
Income-tax Rules amended to provide that bank shall obtain and link PAN or Form No. 60 (where PAN is not available) in all existing bank accounts (other than BSBDA) by 28.02.2017.
Budget 2017: Income Tax incentives likely to offset demonetisation pain
The Indian economy was growing at a rapid pace, with a GDP growth of around 7.6%, and with the introduction of GST was expected to grow at even a faster rate.
Double I-T exemption limit to Rs 5 lakh: Deloitte survey
Finance Minister Arun Jaitley should double the basic income tax exemption limit to Rs 5 lakh per year and raise the ceiling for claiming deduction under Section 80C to Rs 2.50 lakh, according to a survey by tax consultant Deloitte.
Income tax relief for small firms in bid to encourage digital payments
The government has already waived merchant discount rates (MDR) on digital transactions of up to Rs2,000 till 31 December.
Just 1% Indians pay Income Tax – NITI Aayog CEO
Just 1% Indians pay Income Tax – NITI Aayog CEO. Chief Executive Officer of NITI Aayog Amitabh Kant today said just one per cent of India’s more than 1.25 billion population pays Income Tax and the country cannot afford as high as 95 per cent of its economy making cash transactions. Addressing a Workshop on…
Income Tax Should be Scraped totally or Simplified
Now, who would not like to escape paying taxes on income? There will be more money in the pocket or the bank account.
No New Exemption to Political Parties from Income Tax: Arun Jaitley
As controversy arose over the Income Tax Act provision about granting exemption from income tax to political parties, finance minister Arun Jaitley issued a statement on Saturday night clarifying that this provision is 35-year-old. Following is the text of his statement: “Political parties have not been granted any exemption post demonetisation and introduction of Taxation…