Lok Sabha passed Finance Bill 2016-Section-wise Changes made On 5th May, 2016, the Lok Sabha passed the Finance Bill 2016 with…
Government clarifies to the Jewellery Industry about the issues relating to imposition of Excise Duty on articles of Jewellery with…
Roll back of 60% taxation of EPF/NPS withdrawal announced The Finance Bill, 2016 (Budget 2016-17) had proposed income tax on…
Phasing out of income tax deductions and exemptions in Budget 2016-17 The Finance Minister in his Budget Speech, 2015 had…
Rationalisation of income tax penalty provisions in budget- 2016-17 New section 270A for under-reporting of income from AY 2017-18 Under…
Return of income (ITR) can now be filed without pre-payment of self assessment tax and interest In order to rationalise…
Belated returns u/s 139(4) can now be revised u/s 139(5)-Budget-2016-17 amendments In order to rationalise the time allowed for filing…
Time limit for filing belated income tax returns u/s 139(4) reduced by one assessment year-Budget-2016-17. Amendment applicable from AY 2017-18…
ITR filing made compulsory if total income together with exempt LTCG from Equity shares exceeds basic exemption limit In order…
Form 15G 15H for receiving Rent Payments without TDS deduction from 01-06-2016. Budget 2016-17 amendment to section 197A and 194I…