Latest fixed deposit interest rates in India 2015

Latest fixed deposit interest rates in India 2015 – ICICI, HDFC, Axis bank revised rates: Leading private banks HDFC bank and ICICI bank has reduced the fixed deposit interest rates by 0.25% for amount more than 1 crore. The effective interest rate will come down from 8.25% to 8% for deposited … Continue reading

No change in rate of Service Tax from 1 April 2015

Clarification- No change in rate of Service Tax Finance bill, 2015 has proposed to increase effective rate of Service Tax from 12.36% to 14%. It is wrongly reported in some quarters that the effective date of change in rate of Service Tax is 1st April, 2015. It is hereby clarified … Continue reading

Income tax rates for Financial year 2015-2016

1). Individual resident aged below 60 years (i.e. born on or after 1st April 1955) or any NRI / HUF / AOP / BOI / AJP* Income Tax : Income Slabs Tax Rates i. Where the total income does not exceed Rs. 2,50,000/-. NIL ii. Where the total income exceeds … Continue reading

Highlights of Union Budget for 2015-16

INTRODUCTION: Credibility of Indian economy has been re-established in the last nine months. Indian economy about to take-off on a fast growth trajectory. Most growth forecasts have upgraded Indian economic growth while downgrading global economic growth. Economically empowered States are equal partners to Indian economic growth. Round the clock, round … Continue reading

Highlights of the Railway Budget for 2015-16

Railway Budget for 2015-16: 23 million people travel in trains every day. 1.4 Lakh crore of annual income every year. Out of 676 sanctioned projects only 317 were completed in the last three years. Rs. 1.82 lakh crore is required to complete pending projects. Around 13 lakh employees were working … Continue reading

Budget 2014 Highlights

Direct Taxes (Income TAX), Tax Saving Plans & Insurance Sector •Relief to individual tax payers •No change in tax rate •Personal Income Tax Rebate Increased to Rs. 2.5 Lakhs for all tax payers under age of 60 •Personal Income Tax Rebate Increased to Rs. 3.0 Lakhs for Senior Citizens •Investment … Continue reading

In Budget 2014_Reduction in excise duty on vehicles, no changes in personal tax

Finance Minister, P Chidambaram’s once delivered a non-populus Budget. In his interim budget in parliament today, he announced massive excise duty cuts in the auto sector making cars cheaper. -Excise duty on SUVs have been cut to 24% from 30% -Excise duty on Small cars, motor cycles, scooters and commercial … Continue reading

Budget 2013-no increase in Income tax Limit or income tax slab

Finance Minister P. Chidambaram presented Union Budget 2013 on 28th Feb-2013, the 82nd Budget in India’s history. This budget is 8th Budget presented by MR P. Chidambaram. Below are the key highlights of Union Budget 2013. Budget will be applicable from 1st April, 2013.   1. Direct Taxes: A) Income Tax Rates/ … Continue reading