The Budget 2019 proposed by the Finance Minister Piyush Goyal has granted two major reliefs to the persons being taxed under the head house property income. Firstly, the budget proposes to exempt the levy of income tax on notional rent on a second self-occupied house. Currently, income tax on notional rent is payable if one […]
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The Institute of Chartered Accountants of India ( ICAI ) has informed that the results of the Post Qualification Course Examinations Insurance and the Risk Management and International Taxation Assessment Test are likely to be declared on Friday, the 8th February, 2019 around 6.00 PM. Further, the results of the Chartered Accountants Intermediate (Old Course […]
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The Goods and Services Tax (GST) reforms has resulted in increased tax base, higher collections and ease of trade. While presenting the Interim Budget 2019-20 in Parliament today, the Union Minister for Finance, Corporate Affairs, Railways & Coal, Shri Piyush Goyal said “The Goods and Services Tax (GST) reforms lingered on during the previous Government […]
The post GST Council to appoint a GoM to examine and make Recommendations to reduce GST burden on Home Buyers appeared first on Taxscan | Simplifying Tax Laws.
The Institute of Chartered Accountants of India (ICAI) has decided to conduct a Special Exam for the foreign Chartered Accountants to enable them to practice in India as per the Mutual Recognition Agreement (MRAs) / Memorandum of Understanding (MoU) with Foreign Accounting Bodies. The Special Exam will be held on 17th , 18th , 19th […]
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The Institute of Chartered Accountants of India ( ICAI ) has informed that the results of the Chartered Accountants Intermediate (Old Course & New Course) Examination held in November 2018 are likely to be declared on Friday, the 8th February 2019 around 6.00 P.M. The results, as well as the All India merit list (upto […]
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The Government has reduced tax rates, more for the common man and middle class, and made the interface with the tax department much simpler and largely faceless. Due to this, the tax collections increased significantly from Rs 6.38 lakh crore in 2013-14 to almost Rs 12 lakh crore this year. The number of returns filed […]
The post 80% growth in Tax Base: Number of Returns Filed increased from 3.79 crore to 6.85 Crore appeared first on Taxscan | Simplifying Tax Laws.
The anti-black money measures taken by the Government during the last four and half years in the form of Black Money Law, the Fugitive Criminal Offenders Act, and Demonetisation, have brought undisclosed income of about Rs 1,30,000 crore to tax. These measures have also led to seizure and attachment of assets worth approximately Rs 50,000 […]
The post Anti-Black Money measures brought Undisclosed Income of about Rs 1.3 Lakh Crore to Tax, says Piyush Goyal appeared first on Taxscan | Simplifying Tax Laws.
