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2016

Gujarat VAT Budget - 2016-17

  1. Bamboo materials (except furniture) is now made tax free from 5% VAT.
  2. Cycle rickshaw & paddle rickshaw is now made tax free from 5% VAT.
  3. Mosquito net is now made tax free from 5% VAT.
  4. Sanitary napkin & adult diapers is now made tax free from 5% VAT.

2016
  • Budget is already a few days old and the common man is still curious to know what impact this budget will have on his daily life.
  • Some of the important focus areas in this budget were affordable housing, relief to small taxpayers, simplification of taxes, and creating a pension society.
  • The FM also proposed promotion of tax compliance by simplification of procedures and penalize the non-compliant.
  • With that in mind, he has proposed one time settlement scheme for those who want to come forward and comply by paying 45% tax on undisclosed income.

2016

Taxes

  1. Relief under Section 87A proposed to be increased from Rs. 2,000 to Rs. 5,000.
  2. Deduction under Section 80GG for individuals paying rent but not receiving HRA proposed to be increased from Rs. 24,000 to Rs. 60,000.
  3. 44AB limit amended from 1 Crore to Rs. 2 Crore & for Professional from Rs. 25 Lakh to Rs. 50 Lakh with minimum income shown 50%.
  4. Corporate tax reduced to 29% for small business having turnover less than Rs. 5 Crores.

2016

How to Send Messages To All Facebook Friends At Once

Steps To Send Messages To All Facebook Friends At Once :

  1. First of all you must have the latest version of Google chrome as the extension we are going to discuss right here might not work perfectly with the older version of Google chrome.
  2. Now in your Google chrome add the extension Social Media Toolkit For Facebook there are some features in extension that are actually paid and that is why we have given the tutorial to activate this extension all for free.
  3. After getting this extension in your browser login to your Facebook account where you want to send a single message to each and everyone.

2016

Union Railways Minister Suresh Prabhu on Thursday presented his second Railway Budget in Parliament.

Here are some of the key points:

  • Three pillars of change: New source of revenues, new norms and new structures
  • Operating ratio in 2016-17 92 percent (90 percent in 2015-16)
  • Capital Expenditure in 2016-17 at Rs 1.21 lakh crore
  • Savings through efficient operation in 2015-16 at Rs 8,720 crore

2016
  • During the tax-filing period of 2015, the Income Tax Department inched a step closer to taking the entire e-filing procedure paperless and thoroughly online. This was achieved by launching a facility of electronic verification of returns electronically filed through the Income Tax e-filing portal.
  • Multiple sources helped a tax filer generate the 10-digit alpha numeric e-verification code (EVC) in July 2015. One could generate it through net banking, using Aadhar card or even through the bank’s ATM channel. So far, 52.72 lakh returns have been e-verified of which 40.53 lakh returns were e-verified using Aadhar card during the year as per data provided by the www.incometaxefiling.gov.in website.
  • This month the Central Board of Direct Taxes has added two more ways of e-verifying the returns filed electronically.

Financial Management