(AFTER FEBRUARY 2016 )

30 May 2016

RECENT AMENDMENTS IN SERVICE TAX (AFTER FEBRUARY 2016 ) 1. Rate of Service Tax: It is proposed to continue to tax services at the rate of 14% plus Swach Bharat Cess of 0.5% i.e. effective rate of 14.50% till 30/05/2016. W.e.f 01/06/2016 an additional Cess of 0.5% on all taxable services known as Krishi Kalyan Cess to finance and promote initiatives to improve agriculture will be applicable. Thus, the Effective service tax rate from 1st June 2016 is increased from the existing rate of 14.50% to 1...

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Key Changes / Amendments to take effect from June 1, 2018

26 May 2016

Key Changes / Amendments to take effect from June 1, 2018 The amendments under the Income tax Act, 1961 (“the Act”) have been discussed in the manner provided below: Amendments relating to Corporates Amendments relating to Individuals Amendments relating to Trusts Amendments relating to ICDS Amendments having impact on Foreign Currency Inflows Common Amendments Rates of Income tax (FY 2017-18 vs FY 2018-19) INDIVIDUALS: Persons FY 2017-18 FY 2018-19 Change Individuals (< 60 years – Resident) & N...

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