In order to widen the tax net and help government to raise tax collection significantly, India’s finance minister Arun Jaitley while presenting budget 2015 in parliament has announced to abolish the wealth tax and levied additional surcharge at the rate of 2% on super rich persons with taxable income of Rs 1 crore or above in a financial year. Due to this the earlier … [Read more...] about Wealth tax in India abolished, 2% extra surcharge for super rich persons
Budget 2015
Tax rates applicable To Company for financial year 2015-2016 – AY 2016-2017
In our last article we have talked about tax rates applicable to an individual, HUF, AOP, BOI, Partnership firm, Cooperative society and local authority for the financial year starting from 1st April 2015. Today, in this article we will talk about the tax rates that is applicable to company for financial year 2015-2016. For this purpose company includes private limited and … [Read more...] about Tax rates applicable To Company for financial year 2015-2016 – AY 2016-2017
Tax rates applicable to partnership firm, Co-operative Society and Local Authority for financial year 2015-2016
In our last article we have discussed above tax rates that is applicable to an individual for the financial year 2015-2016 (assessment year 2016-2017). In this article we will be looking into the tax rates that are applicable to a partnership firm, Co-operative society and local authority for the financial year 2015-2016 (assessment year 2016-2017). These rates will be … [Read more...] about Tax rates applicable to partnership firm, Co-operative Society and Local Authority for financial year 2015-2016
Tax rates applicable to individual for financial year 2015-2016 – Assessment year 2016-2017
Budget 2015 has been placed in parliament by finance minister Arun Jaitley on 28th February 2015. This budget has not changed anything related to tax rates applicable to an individual for financial year 2015-2016 in comparison to financial year 2014-2015 except additional surcharge for those individual whose income exceeds Rs 1 crore in a financial year. Here is a … [Read more...] about Tax rates applicable to individual for financial year 2015-2016 – Assessment year 2016-2017