Live updates and discussion budget 16
Page no : 6
Mita Basak
(Professional)
(1921 Points)
Replied 29 February 2016
1% tax on luxury goods and cars; Infra cess of 1% on small cars & 2.5% on diesel cars, says FM in Budget 2016
CA Ruby Bansal
(Finance Professional)
(6914 Points)
Replied 29 February 2016
Boost for startups! 100% tax deductions for new startups for first 3 years#union budget 2016
Niyati
(Student)
(7830 Points)
Replied 29 February 2016
Tax proposals to provide relief to small taxpayers through rebates #Budget16
Mita Basak
(Professional)
(1921 Points)
Replied 29 February 2016
Limited tax compliance window from Jun 1 - Sep 30 for declaring undisclosed income at 45% incl. surcharge and penalties #Budget16
Niyati
(Student)
(7830 Points)
Replied 29 February 2016
FM talks about role of tech in enforcing tax compliance and checking tax evasion: FM
Tax evasion will be countered strongly: FM
Vishal Goel
(Chartered Accountant)
(1688 Points)
Replied 29 February 2016
1% tax on luxury goods and cars: FM
Vishal Goel
(Chartered Accountant)
(1688 Points)
Replied 29 February 2016
Additional 5% tax on all taxable services under Krishi Kalyan Tax for benefit of farming community #Budget2016
Vishal Goel
(Chartered Accountant)
(1688 Points)
Replied 29 February 2016
FM Proposes tax of 45% on undisclosed income under New Tax Amnesty Scheme
Vishal Goel
(Chartered Accountant)
(1688 Points)
Replied 29 February 2016
FM Arun Jaitley retains fiscal deficit target at 3.9% in FY16
Vishal Goel
(Chartered Accountant)
(1688 Points)
Replied 29 February 2016
No change in tax slabs, but some relief for middle cla
Ayush
(Executive )
(6760 Points)
Replied 29 February 2016
Eassesement for all assessess for in 7 major cities
Proposal for Govt. will pay interest rate of 9% over 6% if delay is more than 90 days #UnionBudget2016
Limited period compliance window proposed to declare undisclosed income
Implementation of GAAR from 1st April 2017 #UnionBudget2016
Limit for presumptive taxation increased to 2 crore
Vishal Goel
(Chartered Accountant)
(1688 Points)
Replied 29 February 2016
Service tax exempted for services provided under Deen Dayal Upadhaya Grameen Yojana, other welfare schemes.
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