Latest Expert Exchange Queries

Make 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) | 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: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARDS :: cpt :: VAT RATES :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: articles on VAT and GST in India :: ACCOUNTING STANDARD :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment :: VAT Audit :: TDS
 
 
« News Headlines »
 Income-tax (21st Amendment) Rules, 2017
 Deadline for filing income tax return nears; here are 10 common mistakes that you must avoid
 All you need to know about form 26AS
 How to file income tax return?
 7 changes that affect income tax return filing this year
 How To File Income Tax Return (ITR) Online For FY2016-17? Last Date July 31
 Last date for filing income tax return approaches: What is Form 26AS? How it can help you claim refunds
 Income Tax department to launch mobile app to make life easy for taxpayers
 6 things to remember while filing your income tax return
 Want to save on tax? Here are deductions you can use while filing ITR
 July 31 Is Last Date For Filing Tax Return. Why Form 26AS Has To Be Checked

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 2017 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