No scrutiny on post demonetization deposits upto Rs. 2.5 lakh

On the matter of scrutiny of deposits, the IT department has issued a clarification. As per this clarification, there will be no scrutiny of deposits of upto Rs. 2,5 lakhs made in the banks in the post demonetization period. Only those accounts will be subjected to scrutiny which does not tally the Income Tax Returns filed. … Continue reading No scrutiny on post demonetization deposits upto Rs. 2.5 lakh

What does Indian Union Budget 2017 mean for foreign investors?

India’s Union Budget, 2017 was presented today by the Finance Minister. What we saw was a balanced approach with a focus towards strengthening the core of the country. A lesser amount of promises and some real strong amendments were proposed. The global economy is ablaze recently. Courtesy – Trump’s policy making in US, Brexit in UK … Continue reading What does Indian Union Budget 2017 mean for foreign investors?

Budget 2017 : Finance Minister Unfolds The Progress On GST

1st February 2017: Finance Minister (FM) Mr. Arun Jaitley today in his 4th Annual Budget speech unfolded the progress made in the area of GST so far. Being the biggest tax reform since Independence, he assured that the preparatory work form the path breaking reform has been the top priority for the Government. The key takeaways … Continue reading Budget 2017 : Finance Minister Unfolds The Progress On GST

EASE TO INDIVIDUAL TAXPAYERS – BUDGET 2017

  Finance Minister Arun Jaitley laid out on 01st February, 2017 a notional budget that aimed to boost spending, as he sought to lift growth and assuage people’s pain from the government’s drive to purge the economy of “black money”. “The finance minister has presented an ‘uttam’ budget, devoted to strengthening the hands of the … Continue reading EASE TO INDIVIDUAL TAXPAYERS – BUDGET 2017

What does Union Budget 2017 have in store for individual tax payers?

The Union budget presented by Mr. Arun Jaitley today has provided a big help for low income earners. He has also acknowledged the salaried employees expectation by saying there’s a legitimate demand for lower tax burden. In this content we will focus on steps taken by the government for Individuals basically salaried and lower income … Continue reading What does Union Budget 2017 have in store for individual tax payers?

Key highlights of the Union Budget, 2017

Finance Minister Arun Jaitley just finished presenting the Union Budget, 2017. In the last two and half years administration has moved from discretionary, favoritism based to system and transparency based. A lot of focus was found to “Transform, Energise and Clean India”. Here are the key highlights of the budget sector-wise: Ten distinct themes to … Continue reading Key highlights of the Union Budget, 2017

Budget 2017: Impact And Expectation In Regard To GST

With Goods and Service Tax (GST) being most unlikely to be implemented from 1st April, 2017, Mr. Arun Jaitley will have to quickly re-assess the indirect taxes rate structure in the Annual Budget 2017. As 1st April, 2017 looks almost uncertain, the Finance Minister has clarified that since GST is transaction based taxation system, the … Continue reading Budget 2017: Impact And Expectation In Regard To GST

Decoding the government’s tax break to small businesses on digital receipts and expectations from Budget 2017

In the midst of the hue and cry caused by demonetisation, the government, through the Central Board of Direct Taxes (CBDT), came up with an announcement on 19th December, 2016, giving huge tax benefits to small businessmen having a turnover of up to Rs 2 crore, for promoting digital payments and banking transactions and moving … Continue reading Decoding the government’s tax break to small businesses on digital receipts and expectations from Budget 2017

5 expectations of startups from Union Budget, 2017

The year 2016 has been a cocktail year for startups. A large percentage of startups bombed. There was a lull in the funding area. Private equity investments into India fell to $16 billion in 2016. Valuations slumped ( PTI reports).Startups also faced a tough time on account of the Singapore-India amended DTAA. There was a … Continue reading 5 expectations of startups from Union Budget, 2017

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