Personal Tax-2016

Showing of 1 - 20 from 27 results
Personal Tax-2016 - Total results - 27
Budget 2016: Tax on EPF shocks the salaried; govt forced to clarify as outrage mounts
Business

Budget 2016: Tax on EPF shocks the salaried; govt forced to clarify as outrage mounts

To bring about parity in New Pension Scheme and other retirement schemes, the government proposed in Budget to impose tax at the time of withdrawal on 60 per cent of the contributions made after April 1, 2016, to EPF and other schemes

Budget 2016: This is a make budget for Arun Jaitley, not a break budget, writes Yashwant Sinha
Business

Budget 2016: This is a make budget for Arun Jaitley, not a break budget, writes Yashwant Sinha

Budget 2016 is a make budget not a break budget and it has come as a pleasant surprise.

Budget 2016: Govt raises surcharge on income of super-rich to 15%
Business

Budget 2016: Govt raises surcharge on income of super-rich to 15%

In the last Budget, Jaitley had abolished the wealth tax and replaced it with an additional surcharge of 2 percent on the super-rich with a taxable income of over Rs 1 crore.

Budget 2016: Tax exemption raised to Rs 1.5 lakh under superannuation fund
Business

Budget 2016: Tax exemption raised to Rs 1.5 lakh under superannuation fund

The finance minister also proposed that 40 percent of the pension wealth of an employee under NPS will be exempted from tax.

Budget 2016: Jaitley plays Santa with rent payers, raises HRA deduction limit to Rs 60,000
Business

Budget 2016: Jaitley plays Santa with rent payers, raises HRA deduction limit to Rs 60,000

In a relief to individual tax payers, Finance Minister Arun Jaitley today increased the tax deduction limit to Rs 60,000 per annum from the current Rs 24,000 on the housing rent.

Budget 2016: A pro-poor budget; adherence to fiscal deficit a big positive, say experts
Business

Budget 2016: A pro-poor budget; adherence to fiscal deficit a big positive, say experts

Here is what experts ranging from macroeconomic, infrastructure to banking sector have to say on Budget 2016

Budget 2016: Bonanza for new workers, govt to contribute 8.33% towards EPS
Business

Budget 2016: Bonanza for new workers, govt to contribute 8.33% towards EPS

To create new jobs, the government has decided to pay 8.33 per cent of wages to EPS on behalf of employers for workers during first three years of employment, and has given Rs 1,000 crore for the same.

Budget 2016: Wooing foreign investors? Govt waives penalty, interest on pending tax disputes
Business

Budget 2016: Wooing foreign investors? Govt waives penalty, interest on pending tax disputes

In order to soothe nerves of foreign investors, the government today offered one-time settlement of cases emanating from retrospective amendment of tax laws, by asking companies to pay the basic tax demand and get waiver for interest and penalty.

Budget 2016: Govt proposes FDI relaxation in insurance, food processing
Business

Budget 2016: Govt proposes FDI relaxation in insurance, food processing

In his Budget, Finance Minister Arun Jaitley today proposed to significantly relax the FDI policy in several sectors, including insurance and pension and asset reconstruction companies, to attract more overseas investments.

Budget 2016: Give tax sops for home insurance, raise exemption in health policy
Business

Budget 2016: Give tax sops for home insurance, raise exemption in health policy

This year, the introduction of social security schemes by the government has been a great move in deepening the penetration levels of insurance in India.

Budget 2016: Give more exemptions, deductions for salaried class & senior citizens
Business

Budget 2016: Give more exemptions, deductions for salaried class & senior citizens

Although there is a higher limit of deduction for senior citizens for medical insurance but for the day to day medical needs there is no deduction