Budget 2013 video interview shown as speaking exclusively to TIMES NOW's Editor-in-Chief Arnab Goswami senior BJP leader Yashwant Sinha indicated that BJP is disappointment over the general budget, saying it shows little for the common man. He also claimed that the budget has failed to chart a road map to encourage key sectors like infrastructure, power and manufacturing of the economy which was going through a very difficult phase....
[ic_spinrewriter]Speaking exclusively to TIMES NOW's Editor-in-Chief Arnab Goswami and Political Editor Navika Kumar on the Budget 2013, Telecom Minister Kapil Sibal cited that foreign companies are eager to come to India and the opposition is reflecting negativity.[/ic_spinrewriter]...
The Budget 2013 has many proposals which affect the individual tax payers rather badly. These proposals are little tweaks in words or phrases of Income tax Act, which although looks small amendments, yet create big changes in taxation of individuals. This Budget 2013 , after going through fine prints, it is clear that government is going to take away more from taxpayers through proposals hidden in small prints of Finance
General Anti-Avoidance Rule (GAAR ) introduced under a new Chapter X-A starting from section 95 by Finance Bill 2012-13 and likely to be applicable from 1st April 2012 is being feared by all pundits of tax planning as a measure by government to put a shackle in their practice . GARR is applicable only when the Commissioner of Income Tax , on a matter referred by the Assessing Officer finds
Finance Bill 2012-13 has brought an amendment which will affect beneficially a large number of persons whose land is , these days , compulsorily acquired by state government and other governmental organization as for various use . Under the existing provisions of the section 194LA of the Income-tax Act, a person responsible for paying any compensation or consideration for compulsory acquisition of immovable property (other than agricultural land) is required
Section 80D of the Income-tax Act provides a deduction in respect of premium paid on health insurance of self, spouse and dependant children or any contribution made to the Central Government Health Scheme, up to a maximum of Rs.15,000 in aggregate.A further deduction of Rs.15,000 is also allowed for buying a health insurance policy in respect of parents. Finance Bill 2012-13 has proposed to amend section 80D to also include
Finance Bill 2012-13 has a good news as far as disallowance u/s 40(a)(ia) is concerned. Non deduction of TDS was very painful for the deductor because it not only invites penalty under TDS provisions , the business expense is also not allowed u/s 40(a) (ia) of the Income Tax Act. Finance Bill 2012-13 has brought in amendments to section 201 and section 40 of the Income Tax Act , so
Finance Bill 2012-13 has really good news for senior citizen. First the age anomaly was corrected by reducing the age from 65 years to 60 years for section 80D , 80DDB and section 197A and then an amendment in section 207 of the Income Tax Act now provides that if the senior citizen has no income from business or profession, he need not pay advance tax. He should pay the
The Finance Bill 2012-13 has a bad news for investors of Venture Capital Funds .The income accrued , although not received by investors , will be taxed in the year of accrual itself whether or not the investor received it. Thus the provisions of section 115U of Income Tax Act which currently allow an opportunity of indefinite deferral of taxation in the hands of investor is now being amended from