Unified National Market for Agriculture Commodities The Government has approved a scheme for setting up of National Agriculture Market (NAM) through Agri-Tech Infrastructure Fund (ATIF) on 01.07.2015 with a budget of Rs.200 crore and to be implemented during 2015-16 to 2017-18. The scheme envisages implementation of the National Agriculture Market (NAM) by setting up of… Read More »
Sectorwise Beneficiaries of Railway Budget 2016-17 Sectorwise beneficiaries of the Railway Budget 2016-17 has been complied and given below: – Interest group/Subject Initiatives in Budget SAFETY 946 ROB/RUB sanctioned Launch Mission Zero accident Eliminate all unmanned BG crossings in next 3 years Equip the high density network (10,000Kms) with TCAS in next 3 years PROJECT/… Read More »
Environment Ministry releases new categorisation of industries ‘Re-Categorisation of Industries a landmark decision, new category of white industries will not require environmental clearance’: Javadekar The Government today released a new categorization of industries based on their pollution load. Releasing the new categorization here today, Minister of State (Independent Charge) of Environment, Forest and Climate Change,… Read More »
Heavy financial and legislative agenda for 3rd week of Budget session Aadhar Bill, Whistle Blower Protection Bill, Child Labour Bill and time permitting Real Estate Bill among 12 Bills proposed for next week Both the Houses debate contentious issue during the first two weeks; Lok Sabha passes one Bill and Rajya Sabha clears 3 Bills… Read More »
Punjab Joins “UDAY” Scheme; Would Derive an Overall Net Benefit of Rs.5475 Crore Through “UDAY” The Government of India, the State of Punjab and the Punjab State Power Corporation Limited (PSPCL) which takes care of the power distribution activity of Punjab signed Memorandum of Understanding (MOU) under the Scheme UDAY – “Ujwal DISCOM Assurance Yojana”… Read More »
Finance Bill 2016 Tax incentives for start-ups With a view to providing an impetus to start-ups and facilitate their growth in the initial phase of their business, it is proposed to provide a deduction of one hundred percent of the profits and gains derived by an eligible start-up from a business involving innovation development, deployment or commercialization… Read More »
Finance Bill 2016 Taxation of Income from Patents In order to encourage indigenous research & development activities and to make India a global R & D hub, the Government has decided to put in place a concessional taxation regime for income from patents. The aim of the concessional taxation regime is to provide an additional incentive for… Read More »
Finance Bill 2016 Extending the benefit of initial additional depreciation under section 32(1)(iia) for power sector Under the existing provisions of section 32(1)(iia) of the Act, additional depreciation of 20% is allowed in respect of the cost of new plant or machinery acquired and installed by certain assessees engaged in the business of generation and distribution of… Read More »
NOTIFICATION NO. SO 650(E) [NO.13/2016 (F.NO.142/33/2015-TPL)], DATED 3-3-2016 In exercise of the powers conferred by section 295 read with section 32 of the Income‐tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income‐tax Rules, 1962, namely:— 1. (1) These rules may be called… Read More »
Finance Bill 2016 Levy of tax where the charitable institution ceases to exist or converts into a non-charitable organization The existing provisions of section 2(24) of the Act define “Income” in an inclusive manner. Any voluntary contribution received by a charitable trust or institution or a fund is included in the definition of income. Sections 11… Read More »