A matter which has attracted considerable debate in the public space in recent weeks is thelevy of Minimum Alternate Tax (MAT) on Foreign Institutional Investors (FIIs). The difficultiesexperienced by FIIs in this regard were brought to the notice of the Government when we werepreparing the Budget for 2015-16. Considering their difficulty, the Finance Bill 2015-16…
Govt. in its budget has proposed TDS @ 10% on EPF withdrawals before the completion of 5 years. EPF is a long term investment. To discourage withdrawal from EPF account (except in cases of termination due to ill health, closure of business, death, etc.), TDS has been proposed @ 10%. However, it has also been…
Corporate Tax rates to be reduced from 30% to 25% over the next four years. This will be done in phases. Exemption to be reduced for corporates in phases with the reduction in corporate tax rate. Concealment of income and assets related to foreign assets to be criminal act and will be subject to imprisonment…
Accidental Insurance of INR 2 lacs at the premium of INR 1 per month from Jan Dhan Yojna Bank account Post Office to be used for Jan Dhan Yojna. Linking of Post Office to the Bank. Atal Pension Yojna for pension system. Welfare Fund for Senior Citizen Universal Social Security System to be set up.…
There is a proposal in Finance Ministry to raise the minimum lock-in period in PPF in the upcoming budget for FY 2015-16. Reason is to avail the funds for longer term for infrastructure. There are two options on the table right now: Increasing the maturity period from the 15 years. Increasing the minimum withdrawal period…