Month: February 2016

Budget 2016 – Highlights of Income Tax Provisions

Budget 2016 – Highlights of Income Tax Provisions
INDIVIDUALS / HUF / AOP / BOI
No change in income tax rates, no increase in tax exemption Limit.
First-time home buyers to get additional deduction of

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Budget 2016

Budget 2016
First time home buyer – Rs 50,000 deduction for upto Rs 35 lakh loan provided house cost not more than Rs 50 lakh
Reduction of Rs 60,000 per annum for those who don’t

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VAT on Service Tax- a myth or reality

VAT on Service Tax- a myth or reality
The Indirect Tax structure in India is composed of a group of tax laws and regulations. It is levied upon different activities including manufacturing, sale, trading, services

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Promotion of Payments through cards and digital means

Promotion of Payments through cards and digital means
The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval for introduction of steps for promotion of payments through cards and digital

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DTAA with Maldives to stop double taxation on International air transport income

DTAA with Maldives to stop double taxation on International air transport income
Agreement between India and Maldives for avoidance of double taxation of income from International air transport
The Union Cabinet chaired by the Prime

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Software developer cannot be compared with service provider

Software developer cannot be compared with service provider
Transfer Pricing: Companies in software development services not comparable with those in development of software products and services
Brief of the Case
ITAT Bangalore held in the

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