Simplified Laws Guide to Taxation and Legal Concern

Amendments in tax laws from 01-June-2016 [Changes proposed by Finance Act 2016] The Finance Act 2016 has proposed certain changes that come into effect from 01-June-2016. The changes are important as they may impact the way in which you transact with your customers / vendors & may require a modification to your billing …

The Finance Act 2016 had provided provision for levy and collection of Krishi Kalyan Cess (KKC) under section 158 of the Finance Act, 2016 at a rate 0.5% on the value of services. The objective of behind introducing KKC was to financing and promoting initiatives to improve agriculture or for any other purpose relating …

Introduction The Income Declaration Scheme, 2016 (referred to here as ‘the Scheme’) is contained in the Finance Act, 2016, which received the assent of the President on the 14th of May 2016. The Scheme provides an opportunity to persons who have paid not full taxes in the past to come …