Deductions Other Than Under Section 80C
Financial Year 2016-17
Showing posts with label Budget 2016-17. Show all posts
Showing posts with label Budget 2016-17. Show all posts
Setting Best Financial Goals for 2016 -17..!
Setting Best Financial Goals for 2016 -17..! By Mr. Ranjit Punja, Creditmantri.com The new financial year has begun, and this is as
good a time as any to make a New Year’s resolution about your finances. Many of us simply do not put enough thought into
our personal finances du…
New ITR forms: Ultra-Rich Must Declare Cost Price of Assets in assessment year 2016-17
New ITR forms: Ultra-Rich Must Declare Cost Price
of Assets in assessment year 2016-17 Rich people with annual income of over Rs. 50 lac
will have to disclose the acquisition cost of all assets such as land,
building and jewellery in the Income-Tax
return forms for assessme…
No changes to Income Tax Rates and deductions for 2016-17
No changes to Income Tax Rates
and deductions for 2016-17 Income tax rates for individuals
for FY2017 Individual tax rates Up to Rs. 2,50,000 - Nil Above Rs. 2,50,000 – Rs. 5,00,000 - 10% Above Rs,5,00,000 - Rs1,000,000 - 20% Above Rs10,00,000 …
Income Tax Benefit For first Time Home buyer - Budget 2016-17,
Budget 2016-17: Income Tax Benefit For first Time Home buyer - New Section: 80EE Interest on housing
loan allowed as deduction Cost of asset –
Rs.50 lac Loan sanctioned –
Rs.35 lac (01.04.16 and 01.04.17) Deduction / Tax Benefit –
Rs.50,000 Assessee should not own any
other resi…
Top 10 Share Picks for the New Financial Year 2016-17..!
Top 10
Share Picks for the New Financial Year 2016-17..! FUNDAMENTAL
RECOMMENDATIONS FROM LEADING BROKERAGES Generating
healthy returns from the stock market could be challenging in the new financial
year as valuations remain rich. But if
investors stick to specific stocks, t…
Union Budget 2016-17: FM Mr. Arun Jaitly Rolls Back Proposal to Income Tax Provident Fund..!
There is at present no tax on withdrawal from employee provident funds and other superannuation funds. In the recent budget, the government has proposed that withdrawal in excess of 40% of the accumulated corpus will be taxed.
"In view of the representation received, …
Toonalysis - Tax the rich,give it to the poor but what about the middle class..!
Toonalysis - Tax the rich,give it to the poor but what
about the middle class..! Toonalysis is a weekly toon (in INR Bonds.com) which
educate as well as provide humor on financial markets, government and central
bank policies and investments. Toonalysis - Tax the rich,give it…
SUPER RICH INCOME TAX - Budget 2016-17
SUPER RICH Income TAX - Budget 2016-17 * Surcharge (Tax on Tax) for
individuals having income more than Rs.1 crore increased from 12% to 15% * Increase in surcharge
from 12% to 15% on HUFs having income exceeding Rs . 1 crore. * The tax at the rate of 10% of gross amount of di…
Budget 2016-17 : PERSONAL TAXATION
PERSONAL TAXATION : Budget 2016-17 * No change in basic
exemption limit * No change in tax
rates * Rebate of Income Tax
under section 87A increased from Rs.2000 to Rs.5000 for individuals with total income
not exceeding Rs.5 Lakh * Rent paid under section 80GG
increased from R…
Budget 2016-17: Big boost for affordable homes..!
Budget 2016-1: Big boost for affordable ho mes ..! by Mr.G. KARTHIKEYAN, Chartered Accountant, Coimbatore The real estate sector is a major indicator of
how an economy is faring and is also an employment generator, both in the
organised and unorganised sectors. The Indian real…
Union BUDGET 2016-17 IMPLICATIONS ON REAL ESTATE ..!
The Union budget 2016-17 has announced
pragmatic measures to boost affordable housing and removed the last tax hurdle
to Real Estate Investment Trusts (REIT). * Exemption is being provided from service tax on
construction of affordable houses up to 60 square metres under an…
Smaller Mutual Fund Distributors Exempted from Service Tax - Budget 2016-17
Smaller Mutual Fund Distributors Exempted from
Service Tax - Budget 2016-17 Mutual fund (MF) distributors with more than Rs.
10 lakh income will be, however, paying the service tax. Budget also stated
that MF distributors paying service tax will be issued official service ta…
