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Taxclick Team GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) NOTIFICATION No.5/2015-Service Tax, 1. (1)These rules may be called the Service Tax (Amendment) Rules, 2015. (2) Save as otherwise provided in these rules, they shall come into force on the 1st day of March, 2015. (a)in rule 2, in sub-rule (1),- … Read more
The Finance Minister, Shri Arun Jaitley signaled the government’s intent to curb generation of black money in real estate in the Budget 2015-16. Presenting the Budget in the Lok Sabha today he proposed amendments in the Income Tax Act prohibiting acceptance or repayment of advance in cash of Rs. 20,000 or more for any transaction … Read more
The Finance Minister Shri Arun Jaitley has said that the Corporate Tax Rate is proposed to be reduced from the current 30% to 25% over the next 4 years. In his Budget Speech in the Lok Sabha here today, Shri Jaitley said this is expected to lead to higher level of investment, higher growth and … Read more
Payments to the Beneficiaries Including Interest Payment on Deposit in Sukanya Samriddhi Scheme to be Fully Exempt The Union Minister of Finance Shri Arun Jaitley in his Budget Speech in Lok Sabha today proposed rationalization of various tax exemptions and incentives to reduce tax disputes and improve tax administration. He said, with a view to … Read more
The Finance Minister Shri Arun Jaitley while presenting the Budget announced in the Lok Sabha steps to broaden the Tax Base that will maximize benefits to the economy. The Service Tax rate is being increased from 12% plus Education Cesses to 14%. The new service tax rate shall subsume the ‘Education Cess’ and ‘Secondary and … Read more
Budget 2015-2016 Speech of Arun Jaitley Minister of Finance February 28, 2015 I rise to present the Budget of the Union for the year 2015-16. 3. In the last nine months, the NDA Government headed by Prime Minister Shri Narendra Modi, has undertaken several significant steps to energise the economy. The credibility of the … Read more
The Finance Minister Shri Arun Jaitley has said that a very important dimension to our tax administration is the fight against the scourge of black money. He said that taxation is an instrument of social and economic engineering. Tax collections help the Government to provide education, healthcare, housing and other basic facilities to the people … Read more
Q.1. What is NEFT? Ans: National Electronic Funds Transfer (NEFT) is a nation-wide payment system facilitating one-to-one funds transfer. Under this Scheme, individuals, firms and corporates can electronically transfer funds from any bank branch to any individual, firm or corporate having an account with any other bank branch in the country participating in the Scheme. … Read more
Thrust: 1. IR to become prime mover of economy once again 2 Resource Mobilization for higher Investments 3. Decongestion of heavy haul routes and speeding up of trains: emphasis on gauge conversion, doubling, tripling and electrification 4. Project delivery 5. Passenger Amenities. 6. Safety 7. Transparency & System Improvement. 8. Railways to continue to be … Read more
Economic Outlook, Prospects and Policy Challenges · Macroeconomic fundamentals in 2014-15 have dramatically improved. Using the new estimate for 2014-15 as the base, GDP growth at constant market prices is expected to accelerate to between 8.1 and 8.5 percent in 2015-16. · Medium-term prospects will be conditioned by the “balance sheet syndrome with Indian characteristics” that has … Read more