Others News

SPMCIL contributed to the world's biggest exercise of demonetisation

20 February 2017 at 11:03

Hon�ble Union Minister of Finance Sh. Arun Jaitley gives away awards for excellence at the 11th Foundation Day celebrations of Security Printing and Minting Corporation of India Ltd. (SPMCIL) SPMCIL contributed to the world�s biggest exer

Posted in Others | 2 comments | 30201 Views

Cabinet approves acquisition of subsidiary banks of SBI

16 February 2017 at 10:44

The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi has approved the acquisition by the State Bank of India of its subsidiary banks namely State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of

Posted in Others | 2 comments | 5118 Views

No proposal to levy 5% service tax on healthcare services says Govt

14 February 2017 at 10:45

Central Government clarifies that there is no proposal in the Union Budget 2017-18 to levy 5% service tax on healthcare services The Central Government has clarified that there is NO proposal in the Union Budget 2017-18 to levy 5% Service Tax on Heal

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First Part of Budget Session 2017 of Parliament concludes

10 February 2017 at 10:39

The Budget Session, 2017 of Parliament commenced on Tuesday, 31st January, 2017 and subject to exigencies of government business, will be adjourned sine die on Wednesday, 12th April, 2017. Both the Houses have been adjourned for recess for a period o

Posted in Others | 3630 Views

ICSI welcomes Union Budget 2017-18

03 February 2017 at 10:34

CS (Dr.) Shyam Agrawal, President, ICSI welcomes Union Budget 2017-18 with a focus on stimulating growth, providing relief to middle class, affordable housing, curbing black money, promoting digital economy, transparency in electoral funding and simp

Posted in Others | 1 comments | 3183 Views

New Benefits announced for NPS Subscribers in Union Budget 2017-18

03 February 2017 at 10:34

In a bid to provide further impetus to the National Pension System (NPS), the following provisions have been introduced in the Finance Bill 2017 laid down in the Parliament today. Tax-exemption to partial withdrawal from National Pension System (NPS

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Disallowance of depreciation on capital expenditure made in cash

02 February 2017 at 13:05

Under the existing provisions of the Act, revenue expenditure incurred in cash exceeding certain monetary threshold is not allowable as per sub-section (3) of section 40A of the Act except in specified circumstances as referred to in Rule 6DD of the

Posted in Others | 1 comments | 7119 Views

Strengthening of PAN quoting mechanism in the TCS regime

02 February 2017 at 12:47

Statuary provisions for deduction of tax at source (TDS) at higher rate of 20% or the applicable rate whichever is higher) in case of non-quoting of Permanent Account Number (PAN) is provided under section 206AA of the Act and it exist since April, 2

Posted in Others | 2 comments | 2565 Views

Rationalisation of section 211 and 234C relating to advance tax for professionals

02 February 2017 at 12:33

Rationalisation of section 211 and section 234C relating to advance taxSection 211 of the Act provides for instalments of advance tax and due dates for depositing the same. Clause (b) of sub-section (1) of the said section provides that an eligible a

Posted in Others | 3330 Views

Startups can claim deduction within 7 years now u/s 80-IAC

02 February 2017 at 12:16

Extending the period for claiming deduction by start-upsThe existing provisions of section 80-IAC, inter alia, provide that an eligible start-up shall be allowed a deduction of an amount equal to one hundred per cent of the profits and gains derived

Posted in Others | 4596 Views