CAclubindia Articles

Union Budget 2014 - Indirect Taxation

Posted by Madhukar N Hiregange 12 July 2014 21853 Views

In recent times, the law abiding assesses have to contend with large number of target based queries/notices, audits and summons generally high amount of tax terrorism. Infructuos demands [90-95% bound to fail as p

Synopsis of Proposed amendments in Direct Tax in Budget 2014

Posted by CA Rahul Jain 12 July 2014 22345 Views

Tax Benefits/ Exemptions to Individual/ HUF • Basic Exemption Limit for FY 2014-15 is increased to Rs. 250000/- for individuals (whether male or female) below 60 years of age. For persons of 60 years or above, the basic exemption limit is raised

Budget 2014 - Impact Analysis for Indirect Taxes

Posted by Guest 12 July 2014 19641 Views

Showing Direction towards Beginning of Good Days The people of India have decisively voted for promise of Good Days Ahead from NDA & its Government has used its First Budget prepared within just 45 days of coming to power for laying down a

Union Budget 2014- Indirect Taxation- The Ugly Side

Posted by Madhukar N Hiregange 12 July 2014 10879 Views

Union Budget 2014- Indirect Taxation- The Ugly Side- Tax terrorism to Continue unabated. In recent times, the law abiding assesses have to contend with large number of target based queries/notices, audits and summons generally high amount of tax terr

Post Budget 2014 - Central Excise

Posted by Madhukar N Hiregange 12 July 2014 6770 Views

There could be various situations which we have examined separately as follows: A. Goods Earlier exempted now exemption withdrawn./ Not liable or nil rated in Central Excise tariff - Goods removed prior to 10.7.2012 not liable: This would be even if

Major highlights in Central Excise and Service Tax

Posted by Arun Kumar Singh 12 July 2014 12616 Views

The honble Minister of Finance presented union finance budget for the Financial Year 2014-15. Key changes are enumerated below;CENTRAL EXCISE: - An additional duty of excise is being levied at the rate of 5% ad valorem on waters, including aer

Direct Tax Proposals - Major Amendments in Budget 2014-2015

Posted by JITENDRA 12 July 2014 55777 Views

A. MAJOR AMENDMENTS Rates of Income-tax: Personal Income-tax exemption limit raised by Rs.50,000/- that is, from Rs.2 lakh to Rs.2.5 lakh in the case of inpidual taxpayers, below the age of 60 years. Exemption limit: raised from Rs.2.5 lakh to Rs.3 l

Tax Implication after Budget 2014

Posted by Dipendra Prasad Poudel 11 July 2014 16870 Views

Hello Everyone,Here are certain tax implications after budget 2014. New Slab Rates1) For Individuals HUF and Body of Individuals Up to 2,50,000 - Nil2,50,001 - 5,00,000 - 10%50,00,001-10,00,000 - 20%10,00,000 and

Full Understanding of Finance Budget 2014

Posted by CA Vikas Garg 11 July 2014 15623 Views

Dear All,Find full understanding of Budget 2014Brief on Union Budget 2014 1. Expenditure management commission has formed to oversee the management of expenses during the period.2. 49% FDI in Defence.3. Proposal for direct shareholding in banks

Tax Proposals of Budget-2014 for Salaried and Retired People

Posted by CA Tejas Andharia 11 July 2014 13406 Views

Budget 2014 has proposed the following income tax rates For Individuals below 60 years age (including Woman Assessees): Income Tax Rate Upto 2,50,000 Nil 250,000 to 5,00,000 10% of the