Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: TAX RATES - GOODS TAXABLE @ 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: ACCOUNTING STANDARD :: due date for vat payment :: empanelment :: list of goods taxed at 4% :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TDS :: articles on VAT and GST in India :: form 3cd :: Central Excise rule to resale the machines to a new company :: cpt :: ACCOUNTING STANDARDS
 
 
« News Headlines »
 How to save income tax? Here are 6 investments with tax free income
 10 Top salary deductions that can save tax for you
 What are the tax saving options beyond Section 80C?
 The penalties for not paying tax on time
 How to make your salary tax efficient
 I-T Department may go into overdrive this quarter
 Ways to reduce the TDS deduction from your salary
 4 Tips for choosing who prepares your 2017 Tax Returns
 Processing of income-tax returns under section 143(1) of the Income-tax Act which were filed in Forms ITR-1 to 6 & applicability of section 143(1)(a)(vi)
 Price Waterhouse gets 2-year ban in Satyam case
 How to save income tax under section 80C

Budget income-tax breaks
July, 01st 2009

The financial services industry is looking for its own stimulus of sorts in the Union Budget due next Monday.

With the likelihood of a rise in income tax exemption limit for individuals from the current Rs. 1.5 lakh or the expansion of the tax-exempt deduction window for specified investments beyond Rs. 1 lakh, the industry is hoping that this will kick up more demand for savings-based products.

Indications are that the tax exemption may go up from Rs 1.5 lakh to Rs 2.5 lakh or the deductions under section 80C may go up from Rs 1 lakh to Rs 1.5 lakh, said a senior government official on conditions of anonymity. The Urban Development ministry has even sought for a raise tax exemption limit on interest payment on home loans from Rs 1.5 lakh to Rs 2.5 lakh.

Savings can go into post-office instruments, stocks, mutual funds and insurance products, besides pension and public provident funds.

It will encourage people to save more, said, Sam Ghosh, CEO, Reliance Capital.

This will make available a larger sum of money that can be invested in equity linked savings scheme of mutual funds, said Sanjay Sinha, CEO, DBS Cholamandalam AMC.

An increase in the exemption limit on interest paid towards a home loan from Rs 1.5 lakh to Rs 2.5 lakh will come as a booster for the housing finance industry and of course, real estate.

RR Nair, CEO, LIC Housing Finance, said incentives must be extended to those who do not pay tax yet to kick up demand for homes. The life insurance industry wants service tax exempted on unit-linked insurance plans.

Removal of service tax will result in higher returns to the policyholder, said SB Mathur, secretary general, Life Insurance Council.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Privacy Policy

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