Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: VAT RATES :: articles on VAT and GST in India :: TDS :: VAT Audit :: ACCOUNTING STANDARDS :: due date for vat payment :: Central Excise rule to resale the machines to a new company :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: form 3cd
 
 
« News Headlines »
 How to link your Aadhaar and PAN details to file income-tax returns
 How to calculate capital gains tax on property sold at less than stamp value?
 Return Filing - Under GST, this is how you will file tax returns from July 1
 Income tax filing FAQs part 1
 Filing Income Tax Returns? Things To Keep In Mind As Deadline Approaches
 Filing of online return for 4th quarter of 2016-17- extension of period thereof.
 New tax accounting standards may reduce leeway for infrastructure companies
 GST – CONCEPT & STATUS – As on 01st May, 2017
 Govt extends VAT deadline, relief for developers
 Income Tax Appellate Tribunal Rules, 2017
 Got your Form 16? You should file income tax returns early to enjoy benefits

Tax-free limit on post office saving scheme may be increased soon
October, 21st 2008

The subscribers of the post office savings scheme, which attracts tax-free interest accrued on deposits of Rs one lakh and Rs three lakh on single and joint accounts respectively, may have a reason to cheer soon. The finance ministry is closely looking at a proposal for upward revision of the tax-free interest deposit limit.

The parliamentary standing committee on information technology that tabled its report on Management of funds by department of posts through banking and insurance activities has strongly recommended an upward revision of the ceiling limit, in keeping with the proposal of the postal department. It has said that a suitable increase in the limit would be a definite addition attracting more depositors in the post office savings scheme.

Earlier, the postal department had requested the finance ministry to raise the existing deposit limit on which subscribers can avail tax-free interest. The finance ministry, in turn, took up the matter with Central Board of Direct Taxes (CBDT) and asked for increasing the current limit to Rs 3 lakh. However, CBDT has been opposing the demand by saying that the proposed move would cause revenue losses.

Making out a strong case for an upward revision of the current ceiling, the committee has said that such a move would stem the declining number of depositors in this scheme. In fact, the committee lashed out at the postal department and has asked it to take corrective measures to revive this scheme as the foremost investment option.

 

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Multimedia Presentations Multimedia Solutions 3D Solutions Corporate Presentations Business Presentations Multimedia Presentation India M

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions