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Live updates and discussion budget 16

Page no : 6

Mita Basak (Professional) (1921 Points)
Replied 29 February 2016

To hike excise duty on tobacco: FM


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) (6514 Points)
Replied 29 February 2016

Boost for startups! 100% tax deductions for new startups for first 3 years#union budget 2016


Niyati (Student) (7675 Points)
Replied 29 February 2016

Tax proposals to provide relief to small taxpayers through rebates #Budget16



(Guest)

Services provided by EPFO exempted from service tax #union budget 2016



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) (7675 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
 



(Guest)

Govt to introduce bill to amend Companies Act for ease of doing business; to enable registration of companies in a day#union budget 2016


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 ) (6755 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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