Income Tax Return form for the category of individuals having taxable income upto Rs 5 lakhs other than business income

A simple one- page Income Tax Return form for the category of individuals having taxable income upto Rs 5 lakhs other than business income. "Finance Minister Shri Jaitley said that the present burden of taxation is mainly on honest tax payers and salaried employees who are showing their income correctly. Therefore, post-demonetisation, there is a legitimate expectation of this class of people to...

Salient Features of Direct Tax Proposals in Union Budget 2017

Salient Features of Direct Tax Proposals in Union Budget 2017 The Union Budget 2017 was laid before the Parliament today by the Hon'ble Finance Minister of India. The salient features of Direct Tax proposals are summarised below: I. Affordable Housing: 1. Three concessions in the scheme of Income Tax exemption for affordable housing: (a) Area of 30 and 60 Sq.mtr. to be counted as carpet area...

Grant of paid holiday to employees on the day of poll - DoPT Orders

Grant of paid holiday to employees on the day of poll - DoPT Orders General Election to the Legislative Assemblies of Goa, Manipur, Punjab, Uttarakhand and Uttar Pradesh, 2017 - Grant of paid holiday to employees on the day of poll - regarding F.No.12/3/2016-JCA-2 Government of India Ministry of Personnel, Public Grievances and Pensions (Department of Personnel & Training) Establishment...

Shares of Railway PSEs - IRCTC, IRFC and IRCON to be listed

Shares of Railway PSEs - IRCTC, IRFC and IRCON to be listed Consolidation, mergers and acquisitions of CPSEs to be encouraged, an integrated public sector oil major soon Pradhan Mantri Mudra Yojana budget target doubled to Rs. 2.44 lakh crores Rs. 10,000 crores earmarked for recapitalisation of Banks, Need based additional allocation assured While presenting the General Budget 2017-18 in Lok...

Budget gives a major push to Digital Economy; proposes No Cash Transaction above Rs 3 lakh

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Highlights of Union Budget 2017-18

Highlights of Union Budget 2017-18 1. All taxpayers above 5 lakh rupees to get benefit of 12,500 rupees across the board: FM 2. 10% Surcharge on individuals with income between 50 lakh to 1 Crore: FM 3. Surcharge of 10% for individuals earning between Rs 50 lakh- 1 crore; Surcharge for incomes > Rs 1 crore at 15% to continue: FM 4. A single one-page form for filing IT returns for taxable income...

Income tax reduced by 5% for Income upto Rs.5 lakh: Budget 2017

Income tax reduced by 5% for Income upto Rs. 5 lakh: Budget 2017 Finance Minister announced in the budget speech for 2017-18 today in Lok Sabha, there were legitimate expectations of the salary class after demonetization to reduce the tax burden. He proposed reducing the present rate of income tax from 10 to 5 percent for the first slab of income from 2.5 lakhs to 5 lakh rupees NEW INCOME...

7th Pay Commission: Higher Allowances Likely After Union Budget 2017

7th Pay Commission: Higher Allowances Likely After Union Budget 2017 Global brokerage Morgan Stanley said that higher pay commission-related payouts could put pressure on government finances. Some analysts are hopeful that the government will implement Seventh Pay Commission-related allowance hikes after the Budget 2017, which is scheduled for February 1. The Centre implemented the Seventh Pay...

AICPIN for the month of December 2016

AICPIN for the month of December 2016 No. 5/1/2014- CPI GOVERNMENT OF INDIA MINISTRY OF LABOUR & EMPLOYMENT LABOUR BUREAU CLEREMONT, SHIMLA-171004 DATED: 31st January, 2017  Press Release Consumer Price Index for Industrial Workers (CPI-IW)-December, 2016 The All-India CPI-IW for December, 2016 by 2 points and stood 275 (two hundred and seventy five). On 1-month percentage change,...