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 2017The 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 2017Individuals 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 2017While 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 2017The 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 2017A 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 2017The 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 2017CBDT 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 2017As 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 2017A 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 2017The 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