CAclubindia News

Section 80C scope expanded

29 February 2008 at 22:09

Enlargement of the scope of eligible saving instruments under section 80C Section 80C of the Income-tax Act provides for a deduction of upto rupees one lakh to an individual or a Hindu undivided family (HUF) for,-(i) making investments in

Posted in Income Tax | 1 comments | 12021 Views

Now file returns on 30th September

29 February 2008 at 22:09

Advancement of due date from 31st October to 30th September in respect of certain categories of assessees.Section 139 provides for filing of return of income by certain categories of assessees. Due dates, for filing such return of income in respect o

Posted in Income Tax | 9099 Views

Now pay for health insurance of your parents and claim rebate

29 February 2008 at 22:09

Additional deduction for health insurance premium paid for parentsSection 80D of the Income-tax Act provides for a deduction of up to fifteen thousand rupees to an assessee, being an individual or a Hindu undivided family. The deduction is allowed fo

Posted in Income Tax | 5043 Views

Download Budget 2008-09

29 February 2008 at 18:44

To Download Highlights of Union Budget 2008-09 click below:http://www.caclubindia.com/share_files/files_display.asp?files_id=5129To Download Finance Bill 2008 click below:http://www.caclubindia.com/share_files/files_display.asp?files_id=5146To

Posted in Income Tax | 2 comments | 11892 Views

Direct Tax proposals 2008-09

29 February 2008 at 16:13

Direct Taxes· Threshold limit of exemption from personal income tax in the case of all assesses increased to Rs. 150,000. The slabs and rates of tax are:Up to Rs. 150,000NILRs. 150,001 to Rs. 300,00010 percentRs. 300,001 to Rs. 500,00020 percentRs. 5

Posted in Income Tax | 9579 Views

Budget 2008-09 highlights sector wise!!

29 February 2008 at 13:04

P. Chidambaran presents his 7th Union budget and puts down the following points: BASICS GDP at present- 8.8% Concern throughout- Inflation in Cheack is the cornerstone of the policy . Capital Inflow needs to be managed Govt, RBI to jointly take tempo

Posted in Income Tax | 2 comments | 18342 Views

New Direct tax slab rates

29 February 2008 at 12:52

Personal taxesupto 150000-nil150000-300000-10%300000-500000-20% above 500,000-30%Women upto 180000-nilSenior citizen:upto 225000- nilNo change in Corporate taxno change in surcharge80D deduction in case an individual pays on behalf of his parent/par

Posted in Income Tax | 9528 Views

Budget updates 1st hour

29 February 2008 at 11:01

P. Chidambaran presents his 7th Union budget and puts down the following points:GDP at present- 8.8%Concern throughout- Inflation in Cheack is the cornerstone of the policy .Capital Inflow needs to be managedGovt, RBI to jointly take temporary steps

Posted in Income Tax | 4233 Views

FM P Chidambaram to present General Budget 08-09 today

29 February 2008 at 09:29

Union Minister for Finance P Chidambaram on Friday will present the General Budget 2008-09 in the Lok Sabha, later he will address a Post-Budget press conference in New Delhi.Since this will be the last full budget of the UPA government, every segmen

Posted in Income Tax | 3009 Views

Economic Survey predicts GDP growth at 8.7% for 2007-08

28 February 2008 at 13:11

Pushing for reforms, theEconomic Survey said inflationary impact of foreign funds flow, a slowdown inthe US,an appreciating rupee and sluggish infrastructure sector were major challengesbefore economy. "The new challenge is to maintain growth at thes

Posted in Income Tax | 2628 Views