A simple one- page 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 reduce their burden of taxation." Press Information Bureau Government of India Ministry of Finance 01-February-2017 14:11 IST Finance...

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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 and not built-up area; (b) 30 Sq.mtr. only in 4 metropolitan city limits and 60 Sq.mtr. for the rest of the country; (c) Completion period extended...

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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 (JCA-2) Section North Block, New Delhi Dated 1st February, 2017 OFFICE MEMORANDUM Subject: General Election to the Legislative Assemblies...

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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 Sabha here today, the Union Finance Minister Shri Arun Jaitley has said that the shares of Railway Public Sector Enterprises (PSEs) like IRCTC,...

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No Cash Transaction above Rs 3 lakh - FM

No Cash Transaction above Rs 3 lakh - FM Press Information Bureau Government of India Ministry of Finance 01-February-2017 13:57 IST Budget gives a major push to Digital Economy; proposes No Cash Transaction above Rs 3 lakh Government to launch schemes to promote BHIM app, Aadhar Enabled Payment System Mission to be set-up to achieve a target of 2500 Cr digital transactions in 2017- 18 Series of measures proposed to strengthen and regulate digital economy In a bid to give a push to Digital Economy and weed-out corruption and black...

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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 TAX RATES 2017-18 (ASSESSMENT YEAR 2018-19) Total IncomeNormal Rates of Income Tax Up to Rs.2,50,000 to Rs.5,00,0005% All taxpayers above 5 lakh...

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