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Budget 2017: Here’s how much income tax you will have to pay now
Finance Minister Arun Jaitley announced some relief for the common man in his Finance Minister Arun Jaitley. As per the new announcements, the income tax slabs have seen a slight shift and many people will have to shell out less tax as well. Once the tax proposals are implemented, here's who will pay less and who will pay more personal tax 1. Anyone with a taxable income of Rs 3.5 lakh will pay a tax of Rs 2,575 as against Rs 5,150 payable earlier. 2. According to EY, Anyone with taxable i…
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India changes its income tax slab for people earning up to Rs 5 lakh. Here are income tax structures of China, UK, US, Brazil and Germany
Now, 5% tax will be levied on people earning under bracket Rs 2.5 lakh-Rs 5 lakh. Presently, it is …
From boosting co-operative banks to digital payments: Here’s how banking sector in #Budget2017 looks like
The
banking sector had a lot of expectation from this budget and it seems to be
partially appeased …
Relief for the common man! Income tax for people earning Rs 2.5 lakh-Rs 5 lakh reduced to 5%
Also, the FM has levied a surcharge of 10% on people earning an income between Rs 50 lakh and Rs 1 …
Here are VAT rates of India, China, UK, Germany and Brazil. Find out which country has the highest rate
As per Organisation for Economic Co-operation and Development (OECD), VATs raise around one-fifth o…
This Budget, Govt is going to do anything to push demand that went down due to note ban. Here’s what it may do in taxes
"The government may be forced to roll back some of the excise increases on fuel as this could feed …
Here are the reforms that India needs to compete with UK, US and China in tax deductions
Finance Minister Arun Jaitley, while presenting Budget 2015-2016, stated that the rate of corporate…
You may need to show PAN card for small transactions too. Here are the details
This comes as an move by the government to tighten the noose around people who deal in large cash t…
Big relief for foreign portfolio investors! Tax dept holds circular on multiple taxations
FPIs feared multiple taxations after the Central Board of Direct Taxes (CBDT) came out with a notif…
India has a better income tax structure than China. Here are the details
When it comes to individual tax, direct taxes are levied exclusively by the Centre. Currently, the …
Tour operators want Arun Jaitley to exempt service tax on foreign exchange during inbound trips
"Travel and tourism is one of the highest foreign exchange earners for the country. The industry is…
Aviation ministry has sent its Budget 2017 wishlist to Arun Jaitely. Here’s what they expect
"Excise duty was raised when crude prices were low. Now they are inching up and the government can …
India ranks way below than US, UK and China when it comes to ease of paying taxes. Here’s where India stands
As taxes are important for the country, having a concrete tax system is also important as complex t…
Expectations from Budget 2017 have increased post demonetisation. Here’s what the tax experts wish for
Popularising NPS – NPS is a credible alternative to EPF for those who prefer equity linked investin…
Junk food, sugary drinks may attract higher taxes in Budget 2017
"In our presentation to the PM, we suggested higher taxes on junk food and sugary beverages because…
Budget 2017 may give individual, corporate tax payers a cheer, here’s how
"There are multiple proposals on the table. The government is keen on enhancing the purchasing powe…
Get ready for ‘cash tax’. Here’s what it is
"A number of steps are under discussion," a government official familiar with deliberations on this…
Arun Jaitley may drop tough tax accounting rules in Budget 2017
According to a report by the Justice Easwar-led committee on I-T simplification, ICDS has drawbacks…
These were the home loan tax benefits that were announced during Budget 2016
The additional deduction with respect to interest on loan taken will be applicable only for residen…