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Transport industry has always been a difficult and grey area for taxation from govt’s perspective. Due to difficulty in levy and collection of S.Tax on transport industry, govt shifted the burden of tax on industry (service receiver) under reverse charge mechanism and provided exemption to passengers along a few. These are apart ssi exemption. Given […]

Basic exempt income limit is now 3 lac for individuals Inome tax rate for companies having turnover of up to 50 Cr. decreased from 30% to 25% and individuals having income between 2.5lac to 5lacs tax rate is 5% Railway budget merged No difference between planned and non planned Increase farmer income by double In […]