- Increase in the limit of deduction in respect of health insurance premium from Rs. 15,000 to Rs. 25,000.
- For senior citizens the limit will stand increased to Rs. 30,000 from the existing Rs. 20,000
Direct Tax proposals in Budget 2015-16 which benefits the middle class individual tax payers are as follows:-
The CBDT has issued Circular No. 6 of 2014 dated 11.02.2014 in which the issue as to whether mutual funds/specified companies are required to pay additional income-tax under sub-section(2) to section 115R of the Act not only on income distributed by way of dividend but also on payments made at the time of redemption/repurchase of units as well as at the time of allotment of bonus units to existing investors has been considered in great detail
The Parliament has passed the historic Companies Bill 2012, moved by Shri Sachin Pilot, Minister of Corporate Affairs. The Bill was passed by the Rajya Sabha here today which had already been passed by the Lok Sabha many months ago (in December 2012). Shri Pilot has termed it as a historic day for the country as it will usher in a new era in the Corporate Governance.
Relaxation of additional fees and extension of last date of filling of various forms with mca as per general circular no. 7/2013 dated 20.03.2013
tax 'N' accounts people
Tarun Kumar Gupta
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