Some important Amendments . W.e.f 01/06/2016 Krishi Kalyan Cess @ 0.50% shall be levied. So, effective rate of service tax shall be 15% (14.50% + 0.50%) Rebate u/s 87A for AY 2017-18 is increased to 5,000/-( Previously it was Rs 2000) Increase in threshold limit of deduction of tax at source on various payments mentioned in the relevant sections of the Act Section Heads Existing threshold limit before 1 June 2016 New threshold limit after 1 June 2016 192A Payment of accumulated balance due to an employee 30000 50000 194BB Winnings from Horse Race 5000 10000 194C Payments to Contractors Aggregate Annual limit of 75000 Aggregate Annual limit of 100000 194LA Payment of Compensation on acquisition of certain Immovable Property 200000 250000 19...
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Showing posts from May, 2016