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Monthly Journal
Monthly Journal covers articles on important topics, due dates, notifications/circulars/press releases/etc of the preceding month. It covers Income Tax, GST, Service Tax, Excise Duty, Custom Duty, Company Law, SEBI, RBI, Labour Law, IRDAI & Miscellaneous. Sample copy of May, 2017 is attached herewith for reference purpose. Sample Copy Available. To subscribe: Click Here
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Budget, 2018
The Union Finance Minister Shri Arun Jaitley holds his 5th Pre-Budget Consultation Meeting with the leading Economists
FM states that despite subdued global economic growth, India’s growth remains impressive and one of the best in the world during the last three years; Growth of Second Quarter of the Current Financial Year 2017-18 marks the reversal of the declining trend of growth witnessed in the last few quarters; FM: We are following the roadmap of fiscal consolidation. The Union Minister of Finance and Corporate Affairs Shri Arun Jaitley said that despite subdued global economic growth, India’s growth remains impressive and one of the best in the world during the last three years. He said that India has recorded an average growth of [..] Read more at:
Shri Arun Jaitley holds his 6th Pre-Budget Consultation Meeting
The Union Finance Minister Shri Arun Jaitley holds his 6th Pre-Budget Consultation Meeting with Stakeholders from IT (Hardware &Software) Group;Highlights the steps taken by the present Government to make India a global hub for electronics manufacturing; IT Sector Heads seek help from Government against Protectionist Policies; also seek Tax incentives for growth of the sector The Union Minister of Finance and Corporate Affairs Shri Arun Jaitley said that to promote indigenous manufacturing of electronic goods, many steps have been taken by the present Government in last three years including rationalization of [..] Read more at:
ICAI submits Pre-Budget Memoranda-2018
The Finance Act, 2015 increased the rate of surcharge levied on domestic companies by 2 per cent. The surcharge at the rate of 7 per cent shall be levied in case of a domestic company if the total income of the domestic company exceeds INR one crore but does not exceed INR ten crore and at the rate of 12 per cent in case total income exceeds INR ten crore. The Finance Act, 2015 has also increased the surcharge rate from 10 per cent to 12 per cent on DDT. The increase in surcharge by 2 per cent will bring the effective DDT rate to 20.358 per cent as against the present rate of 19.995 per cent. The increased rate of [..] Read more at:
http://www.onlinelawsolutions.com/index.php/2017/12/12/icai-submits-pre-budget-memoranda-2018/
Direct Tax
Direct Tax Collections for F.Y. 2017-2018 show Growth of 14.4% up to November, 2017
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 9th December, 2017 PRESS RELEASE Direct Tax Collections for F.Y. 2017-2018 show Growth of 14.4% up to November, 2017 The provisional figures of Direct Tax collections up to November, 2017 show that net collections are at Rs. 4.8 lakh crore which is 14.4% higher than the net collections for the corresponding period of last year. The Net Direct Tax collections represent 49% of the total Budget Estimates of Direct Taxes for F.Y. 2017-18 (Rs. 9.8 lakh crore). Gross collections (before adjusting for refunds) have [..] Read more at:
http://www.onlinelawsolutions.com/index.php/2017/12/12/collections-of-direct-tax-till-november-2017/
Miscellaneous News
Wrong perceptions about Parliament’s functioning not good; It works 24 X 7, asserts Vice- President Shri M. Venkaiah Naidu
Suggests ranking of legislatures, quorum for opposition, notifying disruptors daily, reservation for women for effective functioning of legislatures Courts can’t be Law unto themselves; Constitutional balance need to be maintained, says Shri Naidu. Disruption of proceedings and violation of Business Rules prime reasons for negative perception of legislatures, feels Naidu. Vice-President of India and Chairman, Rajya Sabha Shri M. Venkaiah Naidu today suggested a 10 point charter to ensure effective functioning of legislatures in the country, so that peoples respect for the democratic institution can be sustained. He [..] Read more at:
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