E-PaperFinance Bill 2017 News
Parliament passes Finance Bill 2017, decks cleared for budget implementation
Lok Sabha rejects five amendments to Finance Bill 2017 that were moved in the Rajya Sabha, clearing the decks for an earlier-than-usual implementation of the Union budget 2017
2 min read31 Mar 2017Fali Nariman, others write to Hamid Ansari on Finance Bill classification
The letter asks vice-president Hamid Ansari to 'allow extensive and uninterrupted discussion into every aspect of the Finance Bill, 2017' in the Rajya Sabha
1 min read30 Mar 2017ITR form made simpler, e-filing of income tax to start from 1 April
Individuals with salary and interest income will have to fill fewer columns as some of these for claiming income deductions have been clubbed in ITR-1 form called Sahaj
2 min read29 Mar 2017The foundation of Aadhaar
While the government has shown urgency in expanding the coverage of Aadhaar, it is yet to take concrete steps to allay the fears of those who are going to use it
5 min read27 Mar 2017Lok Sabha clears Finance Bill 2017, mini reforms package
The Finance Bill 2017 and the reforms package are directed at improving ease of doing business in India and boosting anti-corruption initiatives of the NDA
3 min read23 Mar 2017Finance Bill amendments: Government moves to reform tribunals
A total of eight tribunals including Competition Appellate Tribunal, Cyber Appellate Tribunal and the Copyright Board will be merged into other existing tribunals
3 min read22 Mar 2017Interest on the housing loan can be set off against the taxable rent
The Finance Bill 2017 proposes to limit the interest set-off for let-out properties to Rs2 lakh. What is this proposal and how will it impact you?
3 min read14 Feb 2017SMEs to pay 25% tax even if Rs50 crore limit crossed in FY17: CBDT
CBDT chairman Sushil Chandra says the income tax department will come out with a clarification on which companies would be eligible to avail the tax benefit
1 min read6 Feb 2017Union budget 2017: Tax benefit on second house restricted to Rs2 lakh
As per the The Finance Bill 2017, the owner can set off of loss towards second home against other heads of income up to Rs2 lakh under Section 71 of the Income Tax Act
2 min read2 Feb 2017Delay in filing income tax returns to attract max penalty of Rs10,000
A fee of Rs5,000 shall be payable, if income tax return is furnished after the due date of the assessment year and a fee of Rs10,000 shall be payable in any other case
1 min read1 Feb 2017Popular Topics
Budget
The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared