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
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- 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
There could be various situations which we have examined separately as follows: A. Goods Earlier exempted now exemption withdrawn./ Not liable or nil rated in Central Excise tariff - Goods removed prior to 10.7.2012 not liable: This would be even if
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
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
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
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
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
Major impact of budget 2014 on CENVAT CreditAs most of the readers would be aware, the honourable finance minister has presented the budget 2014 on 10th July 2014. In this article, I would like to focus on few changes in cenvat credit provisions. Eve
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