The key highlights of the Interim Budget 2019–20 presented by Shri Piyush Goyal in Parliament today are as follows: Income Tax Persons having Total Income upto Rs. 5 lakh exempted from Income Tax. Basic Exemption limit and Tax Slab has been…
Category: Budget
Finance Bill 2019 of Interim Budget 2019
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Finance Act, 2015
Finance bill, 2015 has received the presidential assent on 14th May 2015 and has now become Finance Act, 2015. All the provisions which were due to be effective from the date the Finance Bill receives the assent of the President…
Finance Bill has been passed by President & has become Act, Finance Act 2015
President Pranab Mukherjee has given his assent to the Finance Bill, 2015. It means various provisions such as the new taxation norms will now be part of an Act and will be implemented accordingly. Finance Bill 2015 receives assent of…
Finance Bill, 2015 passed by the Lok Sabha, changes made in Finance Bill, 2015
On April 30, 2015, the Lok Sabha passed the Finance Bill. The Bill which was presented originally in the Lok Sabha is not passed in its original shape. All changes made in the Finance Bill, 2015 as passed by the…
Income Tax Rates of Individuals for Financial Year 2015–16 & AY 2016–17
Individual Tax Rates Male/ Female Slabs Tax Rates (Male) Tax Rates (Females) Taxable Income upto 2,50,000 Nil Nil Rs. 2,50,000 to 5,00,000 10% 10% Rs. 5,00,000 to Rs. 10,00,000 20% 20% Above Rs. 10,00,000 30% 30% Senior Citizen Slabs Tax Rates…
Changes applicable to service tax from the date of Notification after Presidents assent to Finance Bill 2015
Following changes in Service Tax would be applicable from the date notified after Finance bill receives assent of resident: 1) Rate of Service Tax increased from 12.36% to 14%: The proposed revision of the rate of Service Tax from 12.36%…
Changes applicable to service tax from Presidents assent to Finance Bill 2015
Following Changes in Service Tax Would be Applicable from the from the date of Finance Bill 2015 receives assent of president: Revised recovery and penalty provisions: Maximum penalty equal to 100 % of Service Tax. However, in certain cases the…
Brief Features of Black Money Bill
the Undisclosed Foreign Income and Assets (Imposition of Tax) Bill, 2015 has been introduced in the Parliament on 20.03.2015. The Bill provides for separate taxation of any undisclosed income in relation to foreign income and assets. Such income will henceforth not be…
Changes applicable w.e.f. 1st April, 2015 in Service Tax
Following Changes would be applicable on Service Tax with effect from 1st April, 2015 1) Exemption given in respect of transportation of food stuff will be limited to the food grains only. 2) Relief in relation to precondition, pre-cooling ripening…