Tag: Tax Rate

GST rates may go up for various items to meet revenue shortfall

It is believed that Govt has considered various options including raising rates from 5 per cent to 8 per cent and 12 per cent to 15 per cent,

December 11, 2019

50 pc professionals expect Budget to steep cut in corp tax

More half of the professionals responded to a survey expect a 500 basis points cut in corporate tax to 25 per cent in the Budget which will be presented on Thursday. According to a survey by Deloitte covering 120 professionals across the sectors, close to 50 per cent feel that tax reforms, particularly tax litigation, should …

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January 29, 2018

Solar panel equipment to attract 5% GST: Adhia

Solar panel equipment will attract the lowest tax rate of 5 per cent under the GST regime, as against the initially proposed 18 per cent, Revenue Secretary Hasmukh Adhia said. Responding to industry queries on Twitter, Adhia said, "All solar equipment and parts would attract 5 per cent GST only". Senior officials today said that …

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May 29, 2017

Middle class can breathe easy as tax rate halved

In a major relief to the tax-burdened middle-class people, Finance Minister Arun Jaitley on Wednesday proposed to halve the income tax to five per cent for those earning between Rs.250,000 and Rs.500,000 per annum. Presenting the 2017-18 Budget in the Lok Sabha, Jaitley said he proposes to halve the income tax for persons earning between Rs.2.5 lakh-Rs.5 …

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February 1, 2017

Middle class can breathe easy as tax rate halved

In a major relief to the tax-burdened middle-class people, Finance Minister Arun Jaitley on Wednesday proposed to halve the income tax to five per cent for those earning between Rs.250,000 and Rs.500,000 per annum. Presenting the 2017-18 Budget in the Lok Sabha, Jaitley said he proposes to halve the income tax for persons earning between Rs.2.5 lakh-Rs.5 …

Continue reading "Middle class can breathe easy as tax rate halved"

February 1, 2017

Middle class can breathe easy as tax rate halved

In a major relief to the tax-burdened middle-class people, Finance Minister Arun Jaitley on Wednesday proposed to halve the income tax to five per cent for those earning between Rs.250,000 and Rs.500,000 per annum. Presenting the 2017-18 Budget in the Lok Sabha, Jaitley said he proposes to halve the income tax for persons earning between Rs.2.5 lakh-Rs.5 …

Continue reading "Middle class can breathe easy as tax rate halved"

February 1, 2017