Tag Archives: Budget 2016

Reflection of Political Brotherhood in Law

When followers of two major Indian Political parties are using abusive language for mothers and others of opponent, their “leaders united” is working for their brotherhood causes silently, continuously and legally. One of the most popular narrative from both political side on social media claims, media do not show “their” truth. Here, we will discuss one aspect of this year’s budget unreported in conventional media.

We have discussed two year earlier here on 31st March 2014 Foreign Donation to political parties.

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Letter to FM regarding Presumptive Income Scheme

Dear Finance Minister,

Regarding – Presumptive Income Scheme – Income from Profession

In present Budget 2016 – 17, you rightly made a proposal for a presumptive Income Scheme by introduction of Section 44ADA in the Income Tax Act, 1962. This proposal is based on recommendations of “Income Tax Simplification Committee” constituted by Central Government under the chairmanship of Justice R. V. Easwar, Former Judge of the Delhi High Court and Former President of the Income Tax Appellate Tribunal.

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Presumptive taxation scheme for persons having income from profession

The simplified presumptive taxation scheme is extended to persons earning professional income. According to government, this scheme will help to rationalize the presumptive taxation scheme and to reduce the compliance burden of the small tax payers having income from profession and to facilitate the ease of doing business.

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