ITR-Over 44-lakh high-value spenders on Income Tax department's radar
Posted Date : 04-Mar-2015 , 08:53:23 am | Posted By CASANSAAR
In order to mop up a larger share of revenue before the end of the current financial year, the Income Tax department has identified over 44 lakh high-value spenders in the country who have not filed their ITR till now. A total of 44,07,193 non-filers for assessment year 2013-14 who are expected...
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ITR |
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MAT will become irrelevant once tax sops are removed - CBDT
Posted Date : 04-Mar-2015 , 08:16:04 am | Posted By CASANSAAR
The minimum alternate tax (MAT) is likely to become irrelevant with the removal of exemptions from direct taxesthat corporates currently avail, according to Anita Kapur, chairperson, Central Board of Direct Taxes (CBDT). Her statement came during an interaction with reporters here on Tuesday.
...
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Income Tax |
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0 | Hits : 998
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RBI revises priority sector lending norms
Posted Date : 03-Mar-2015 , 09:06:41 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) revised guidelines for lending to the priority sector on Monday, with loans to medium enterprises, sanitation and renewable energy sectors coming under the ambit of priority sector lending.
"The target for lending to the redefined priority sector i...
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RBI |
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Proposed amendment in section 288 of Income tax act related to Audtiors
Posted Date : 03-Mar-2015 , 09:06:14 pm | Posted By CASANSAAR
Hon'ble Finance Minister has proposed to amend Section 288 of the income tax Act to provide that an auditor who is not eligible to be appointed as an auditor under Section 141(3) of Companies Act, 2013 shall not be eligible for carrying out any audit or furnishing of any report/certificate under any...
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Income Tax |
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2 | Hits : 4421
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Chartered Accountants can play key role to check black money menace: ICAI
Posted Date : 03-Mar-2015 , 09:04:46 pm | Posted By CASANSAAR
With the Union Budget proposing a new law on black money, accounting regulator ICAI has said that chartered accountants can play an effective role in curbing the menace.
A comprehensive law to check black money stashed away abroad would be introduced in the current session of Pa...
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Chartered Accountant |
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0 | Hits : 1532
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New Investment Pattern For Non-Government Provident Funds, Superannuation Funds And Gratuity Funds With Effect From 1st April, 2015
Posted Date : 01-Mar-2015 , 08:56:58 pm | Posted By CASANSAAR
Government notifies the Investment Pattern for Non-Government Provident Funds, Superannuation Funds and Gratuity Funds. This is reviewed from time to time and revisions are effected based on the developments in the financial market and economy. The investment pattern was last revised on 14th Au...
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Finance |
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Steps Being Taken for Increasing Financing to Micro, Small And Medium Enterprises (Msmes)
Posted Date : 01-Mar-2015 , 08:55:59 pm | Posted By CASANSAAR
Debt Financing:
1) Loans to Medium Enterprises are being brought under Priority Sector Lending.
2) A separate sub-limit of 7.5% in Priority Sector Lending is being created for the Micro Enterprises.
3) ...
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General |
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0 | Hits : 1027
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Set up of International Financial Services Centre (IFSC)
Posted Date : 01-Mar-2015 , 08:55:23 pm | Posted By CASANSAAR
An International Financial Services Centre (IFSC) is set up at Gandhinagar, Gujarat as a part of a Special Economic Zone (SEZ). To operationalise the IFSC, a Notification under the Foreign Exchange Management Act, 1999 (FEMA) shall be issued by Reserve Bank of India (RBI) in March 2015, ma...
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Finance |
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0 | Hits : 963
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Detail of Micro Units Development and Refinance Agency (Mudra) Bank
Posted Date : 01-Mar-2015 , 08:52:13 pm | Posted By CASANSAAR
According to the NSSO survey of 2013, there are 5.77 crore small business units, mostly individual proprietorships, which run small manufacturing, trading or services activities. Most of these ‘own account enterprises’ are owned by people belonging to Scheduled Caste, Scheduled Tribe or ...
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Banking |
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0 | Hits : 790
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Highlights of the Pradhan Mantri Suraksha Bima Yojana for Life Insurance
Posted Date : 01-Mar-2015 , 08:51:20 pm | Posted By CASANSAAR
Eligibility: Available to people in the age group of 18 to 50 and having a bank account. People who join the scheme before completing 50 years can, however, continue to have the risk of life cover up to the age of 55 years subject to payment of premium.
Premium: Rs.330 per a...
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Income Tax |
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0 | Hits : 1087
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Highlights of the Pradhan Mantri Suraksha Bima Yojana for Accidental Death Insurance
Posted Date : 01-Mar-2015 , 08:50:17 pm | Posted By CASANSAAR
Eligibility: Available to people in age group 18 to 70 years with bank account.
Premium: Rs.12 per annum.
Payment Mode: The premium will be directly auto-debited by the bank from the subscribers account. This is the only mode available.
Risk Coverage: ...
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Category :
Income Tax |
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0 | Hits : 921
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Petrol Prices Up by Rs 3.18/Litre, Diesel by Rs 3.09/Litre
Posted Date : 28-Feb-2015 , 07:32:13 pm | Posted By CASANSAAR
Petrol and diesel prices were hiked for the second time in February. Saturday's hike, coinciding with the Union Budget, was a hefty Rs 3.18 per litre for petrol and Rs 3.09 per litre for diesel (inclusive of taxes in Delhi).
Higher prices will kick in with effect from midnight, state-run Indian Oil...
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General |
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0 | Hits : 873
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Budget 2015 - Full Speech of FM Arun Jaitley
Posted Date : 28-Feb-2015 , 02:16:34 pm | Posted By CASANSAAR
Madam Speaker,
I rise to present the Budget of the Union for the year 2015-16.
2. I present this Budget in an economic environment which is far more positive than in the recent past. When other economies are facing serious challenges,...
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Budget |
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No Change in the Rate of Personal Income Tax on Income in Financial Year 2015-16
Posted Date : 28-Feb-2015 , 01:54:11 pm | Posted By CASANSAAR
The Union Finance Minister Shri Arun Jaitley in his Budget Speech in Lok Sabha today proposed no change in the rate of personal Income-tax. He announced the tax proposals with no change in the rate of tax for companies in respect of the income earned in the financial year 2015-16, assessable in the ...
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Budget |
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0 | Hits : 1199
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Benefits to Middle Class Tax Payers in the Budget 2015-16
Posted Date : 28-Feb-2015 , 01:52:36 pm | Posted By CASANSAAR
The Union Minister of Finance Shri Arun Jaitley in his Budget Speech in Lok Sabha today proposed rationalization of various tax exemptions and incentives to reduce tax disputes and improve tax administration. He said, with a view to encourage savings and to promote health care among individual tax p...
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Budget |
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Postal Network Spread Across the Country to be Used for Increasing Access to Formal Financial System
Posted Date : 28-Feb-2015 , 01:51:56 pm | Posted By CASANSAAR
The Finance Minister, Shri Arun Jaitely presenting the Union Budget 2015-16, here today, said that the government is committed to increasing access of the people to the formal financial system. In this context, Government proposes to utilize the vast Postal network with nearly 1,54,000 points of pre...
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Budget |
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0 | Hits : 879
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Finance Minister Shri Arun Jaitley Outlines Measures to Curb Black Money in Budget 2015-16
Posted Date : 28-Feb-2015 , 01:50:51 pm | Posted By CASANSAAR
The Finance Minister, Shri Arun Jaitley signaled the government’s intent to curb generation of black money in real estate in the Budget 2015-16. Presenting the Budget in the Lok Sabha today he proposed amendments in the Income Tax Act prohibiting acceptance or repayment of advance in cash of R...
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Budget |
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0 | Hits : 984
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FM Announces Measures to Improve the Ease of Doing Business with Simplification of Tax Procedures in Finance Bill 2015
Posted Date : 28-Feb-2015 , 01:50:06 pm | Posted By CASANSAAR
The Union Finance Minister Shri Arun Jaitley in his Budget Speech in Lok Sabha today announced measures to improve the ease of doing business so as to achieve ‘Minimum Government and Maximum Governance’. He sought to bring about simplification of tax procedures in the Financial Bill 2015...
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Budget |
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0 | Hits : 971
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Focus to Improve Quality and Effectiveness of Activities Under MGNREGA
Posted Date : 28-Feb-2015 , 01:49:05 pm | Posted By CASANSAAR
The Finance Minister, Shri Arun Jaitely presenting the Union Budget 2015-16, here today, said that government is committed to supporting employment through MGNREGA and ensure that no one who is poor is left without employment. Shri Jaitley said that the focus is on improving the quality and effectiv...
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Budget |
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Budget 2015 - Eligible Donations to Swachh Bharat Kosh and Clean Ganga Fund to be 100% Deductible
Posted Date : 28-Feb-2015 , 01:47:37 pm | Posted By CASANSAAR
The Finance Minister, Shri Arun Jaitley presenting the Budget for 2015-16 in Lok Sabha today, proposed that donations (other than CSR contributions under the Companies Act 2013) to the Swachh Bharat Kosh (by residents and non residents) and Clean Ganga Fund (by residents) will be 100 % deductible un...
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Budget |
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Budget 2015 - Indirect Tax Proposals to Maximize Benefits to the Economy
Posted Date : 28-Feb-2015 , 01:46:54 pm | Posted By CASANSAAR
The Finance Minister Shri Arun Jaitley while presenting the Budget announced in the Lok Sabha steps to broaden the Tax Base that will maximize benefits to the economy. The Service Tax rate is being increased from 12% plus Education Cesses to 14%. The new service tax rate shall subsume the &lsqu...
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Budget |
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Distinction Between Different types of Foreign Investments Done Away to Simplify the Procedure for Indian Companies to Attract Foreign Investment
Posted Date : 28-Feb-2015 , 01:46:18 pm | Posted By CASANSAAR
The Union Finance Minister Shri Arun Jaitley has proposed to do away with the distinction between different types of foreign investments, especially between foreign portfolio investments and foreign direct investments, and replace them with composite caps. Presenting the General Budget 2015-16 in th...
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Budget |
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Micro Units Development Refinance Agency (MUDRA) Bank Set up for Small Enterprises in Lending Priority was Given to SC/ST Enterprises
Posted Date : 28-Feb-2015 , 01:45:31 pm | Posted By CASANSAAR
The Union Finance Minister, Shri Arun Jaitely presenting the Union Budget 2015-16, here today, said that our government firmly believes that development has to generate inclusive growth. While large corporate and business entities have role to play, this has to be complemented by informal sector ent...
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Budget |
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0 | Hits : 926
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Budget 2015 - Task Force to Establish a Sector Neutral Financial Redressal Agency to be Set Up
Posted Date : 28-Feb-2015 , 01:44:53 pm | Posted By CASANSAAR
The Union Finance Minister Shri Arun Jaitley has proposed to create a task force to establish a sector neutral financial redressal agency that will address grievances against all financial service providers. Presenting the General Budget 2015-16 in the Lok Sabha here today, Shri Jaitley stated that ...
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Budget |
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0 | Hits : 823
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Budget 2015 - Education Sector Allocated Rs. 68968 Cr while Rural Development gets Rs 79526 Cr in the Year 2015-16
Posted Date : 28-Feb-2015 , 01:43:37 pm | Posted By CASANSAAR
The Finance Minister, Shri Arun Jaitley has said that adequate provision has been made for the schemes for the poor and disadvantaged in the Budget of 2015-16. Delivering his Budget Speech in the Parliament today, the Finance Minister said that an amount of Rs. 68,968 crore has been allocated to the...
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Income Tax |
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0 | Hits : 809
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Budget 2015 - Employees Under the Employees Provident Fund(Epf) to be Provided two Options
Posted Date : 28-Feb-2015 , 01:42:44 pm | Posted By CASANSAAR
The Union Finance Minister Shri Arun Jaitley has announced that with respect to Employees Provident Fund (EPF), the employee needs to be provided two options. Firstly, the employee may opt for EPF or the New Pension Scheme (NPS). Secondly, for employees below a certain threshold of monthly income, c...
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Budget |
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0 | Hits : 1002
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Budget 2015 - Universal Social Security System for all Specially the Poor and the Under-Privileged
Posted Date : 28-Feb-2015 , 01:41:58 pm | Posted By CASANSAAR
The Union Finance Minister, Shri Arun Jaitely presenting the Union Budget 2015-16, here today said that a large proportion of India’s population is without insurance of any kind – health, accidental or life worryingly, as our young population ages, it is also going to be pension-less. En...
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Budget |
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0 | Hits : 824
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Budget 2015 - Monetising Gold
Posted Date : 28-Feb-2015 , 01:41:10 pm | Posted By CASANSAAR
The Union Finance Minister Shri Arun Jaitley has announced several steps for monetizing gold. Presenting the General Budget 2015-16 in the Lok Sabha here today, the Union Finance Minister Shri Arun Jaitley stated that stocks of gold in India are estimated to be over 20,000 tonne but mostly this gold...
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Budget |
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0 | Hits : 850
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8 Centrally Sponsored Schemes Delinked from Support of the Centre
Posted Date : 28-Feb-2015 , 01:40:30 pm | Posted By CASANSAAR
The plan outlay of 2015-16 reflects the compositional shift in the allocations for various Programmes and Schemes in view of high devolution; 42% of Union Taxes, to States as per the recommendation of 14th Finance Commission. Making his Budget Speech while presenting the General Budget 2015-16,...
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Budget |
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0 | Hits : 869
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Forwards Markets Commission to be Merged with Sebi
Posted Date : 28-Feb-2015 , 01:39:22 pm | Posted By CASANSAAR
The Union Finance Minister Shri Arun Jaitley has proposed to merge the Forwards Markets Commission with SEBI to strengthen regulation of commodity forward markets and reduce wild speculation. Enabling legislation, amending the Government Securities Act and the RBI Act is proposed in the Finance Bill...
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Budget |
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0 | Hits : 832
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