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: list of goods taxed at 4% :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: TDS :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment :: due date for vat payment :: cpt :: ACCOUNTING STANDARDS :: VAT RATES
 
 
« News Headlines »
 You can make these 6 investments for tax-free income
 E-verifying your income tax return, find it here
 Filing of online return for 4th quarter of 2016-17 — extension of period thereof
 CBDT simplifies ITR filing process from FY18
 Govt extends service tax return filing date to April 30
 No move to tax farm income, clarifies Arun Jaitley
 New board for indirect taxes to become operational from June 1
  9 changes that came into effect from April 1
 First time filing income tax? Here's all you need to know about Form 16 and Form 26AS
 New Opening Financial Controller Chartered Accountant (Manufacturing Plant) A Leading Company
 Income Tax Filing 2017: All you want to know about the single page ITR form SAHAJ

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