Category Archives: Budget

Key Features of Budget 2016-2017_(2)

INFRASTRUCTURE AND INVESTMENT  Total investment in the road sector, including PMGSY allocation, would be ` 97,000 crore during 2016-17.  India’s highest ever kilometres of new highways were awarded in 2015. To approve nearly 10,000 kms of National Highways in 2016-17.  Allocation of ` 55,000 crore in the Budget for Roads. Additional `… Read More »

Key Features of Budget 2016-2017_(1)

INTRODUCTION (adsbygoogle = window.adsbygoogle || []).push({});  Growth of Economy accelerated to 7.6% in 2015-16.  India hailed as a ‘bright spot’ amidst a slowing global economy by IMF.  Robust growth achieved despite very unfavourable global conditions and two consecutive years shortfall in monsoon by 13%  Foreign exchange reserves touched highest ever level… Read More »

Amendments in TDS rates after Budget 2015-16

The Changes proposed by the Budget 2015-16 (Finance Bill 2015) related to deduction of tax at source under Chapter XVII of the Income tax Act, 1961 are as under, some of these amendments takes effect from 01.04.2015 and other have  taken effect from 01.06.2015. 1. S. 194A amended to expressly provide that from 1st June, 2015 the… Read More »

Rule 114C as per the Income–tax (22nd Amendment) Rules, 2015

114C. Verification of Permanent Account Number in transactions specified in rule 114B (1) Any person being,— (a) a registering officer or an Inspector-General appointed under the Registration Act, 1908 (16 of 1908); (b) a person who sells the immovable property or motor vehicle; (c) a manager or officer of a banking company or co-operative bank,… Read More »

Income-tax (22nd Amendment) Rules, 2015

CBDT has issued notification dated 30/12/2015, amending Rules 114B, 114C, 114D, 114E. W.E.F. 01/04/2016, all assessees (liable for tax audit u/s 44AB), will have to file Annual Information Return in Form 61A, in case of receipt of cash payment exceeding Rs. 2 Lakh for sale of goods/services. Further, cash deposits or cash withdrawal of more… Read More »

Lok Sabha passes The National Waterways Bill, 2015

Lok Sabha clears Bill to develop 101 waterways; Government aims to garner Rs 1 lakh crore. A bill to develop 101 waterways was passed by Lok Sabha today with government saying it was aiming to garner Rs 1 lakh crore to fund projects to provide low-cost river transportation as ‘Make-in-India’ dream will not be realised… Read More »

Rajasthan becomes the first state to submit smart city plan

Rajasthan has become the first state in the country to submit smart city plans for three selected cities to Union Government. In this regard, state government has submitted smart city Proposals of Udaipur, Kota and Ajmer to Union Ministry of Urban Development. Under the proposal the investment outlays proposed by state government for developing these… Read More »

Smart Cities Mission: A step towards Smart India

Cities accommodate nearly 31% of India’s current population and contribute 63% of GDP (Census 2011). Urban areas are expected to house 40% of India’s population and contribute 75% of India’s GDP by 2030. This requires comprehensive development of physical, institutional, social and economic infrastructure. All are important in improving the quality of life and attracting… Read More »