Daily Archives: February 1, 2017

Political Parties cannot receive donation above Rs. 2,000 in cash from one person; entitled to receive donations by cheque or digital mode from their donors;. Have to file its Income-Tax Return within the prescribed time limit Banks to issue Electoral Bonds to enable donations to Political Parties The Union Minister for Finance and Corporate Affairs,… Read More »

Finance Minister announces several measures for revenue mobilization in the General Budget 2017-18 along with a reduction in tax rates for small tax payers In a major relief to small taxpayer and to bring more people in the tax net, the Union Finance Minister Shri Arun Jaitly announced a reduction in tax rates from 10… Read More »

Finance Minister announces several anti graft and rationalisation measures in the field of Income tax Accountants or merchant bankers furnishing incorrect information to face penalty Income of the Chief Minister’s Relief Fund and the Lieutenant Governor’s Relief Fund to be exempt from tax  Concessional tax rate of 10 per cent in case of income arising… Read More »

Demonetisation will lead to bigger, cleaner and real GDP, says Jaitley GST to spur growth, competitiveness, and greater transparency in economy The Union Minister of Finance and Corporate Affairs Shri Arun Jaitley said that India has witnessed historic and impactful economic reforms and policy making in the last one year and there were two tectonic… Read More »

Budget gives a major push to Digital Economy; proposes No Cash Transaction above Rs 3 lakh Government to launch schemes to promote BHIM app, Aadhar Enabled Payment System Mission to be set-up to achieve a target of 2500 Cr digital transactions in 2017-18 Series of measures proposed to strengthen and regulate digital economy In a… Read More »

General Budget 2017-18 proposes Reduction in Customs and Excise for Renewable Energy Sector, and Cashless Transaction Devices The Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley while presenting the General Budget 2017-18 in Parliament today announced substantial relief in Customs and Excise Duties for Renewable Energy Sector and for manufacture of Cashless Transaction… Read More »

GST Council has finalised its recommendations on almost all the issues based on consensus, says Finance Minister in his Budget Speech Extensive reach-out efforts to trade & industry for GST to start from 1st April, 2017 The Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley while presenting the General Budget 2017-18 in Parliament… Read More »