1. If the consideration for sale / provision of service is received in cash exceeding Rs. 2 lakhs, then the seller will have to collect 1% TCS from the buyer and pay it to the government.
  2. 1% TCS will have to be deducted by the seller in case of sale of car whose value exceeds Rs. 10 lakhs.
  3. Deduction of TDS yearly limit for Contractor Section – 194C has been increased from Rs. 75,000/- to Rs. 100,000/-
  4. Deduction of TDS yearly limit for Insurance Commission Section – 194D has been decreased from Rs. 20,000/- to Rs. 15,000/-
  5. Deduction of TDS yearly limit for Commission or brokerage Section – 194H and Commission on Lottery tickets Section 194G has been revised to Rs. 15,000/-.
  6. Due date for filing TDS return has been extended by the government. Earlier it was 15th of next month from the end of each quarter, now it has been extended to 31st.
  7. Form 15G and Form 15H is submitted to bank for not deducting TDS if assessee has only Interest income. Now this provision is applicable to assessee having Rental income.
  8. Payment of advance tax for all taxpayers from this year has four installments. (i.e) June, September, December and March. This means that taxpayer will have to pay their first installment of advance tax before 15th June. 
  9. The taxpayers who voluntarily declare their undisclosed income in Income Tax Declaration Scheme will have to file application from 1st June till 30th September
  10. The scheme to settle the old disputes in income tax appeal namely, Direct Tax Dispute Resolution Scheme 2016 will be applicable from 1st June 2016.
  11. Krishi Kalyan Cess of 0.5% is made applicable from 1st June 2016. Now onward the rate of service tax will be 15%.
  12. The scheme to settle the old disputes in income tax appeal namely, Indirect Tax Dispute Resolution Scheme 2016 will be applicable from 1st June 2016.

45 thoughts on “12 Major Changes in Tax rates from 1st June 2016”

  1. I have been absent for some time, but now I remember why I used to love this blog. Thank you, I will try and check back more frequently. How frequently you update your website?

  2. The week has just begun and that means it’s time to relieve some stress. You’ve got plenty of work ahead of you. You’ll need all the relaxation you can sneak in. No one can melt the stress like a cam girl can. At http://www.camgirl.pw you’re sure to find a cutie that will make you forget all about whatever was stressing you out.

  3. Right now you could be having a whole lot of fun. All it takes is visiting http://www.camgirl.pw There’s no site out there more fun than that one. It’s loaded with girls who know how to treat a man right. They’ll make sure your day is a very good one.

  4. Every weekeend i used tto pay a quick visit this website,
    because i want enjoyment, since this this website conations really good funny material too.

  5. An outstanding share! I have just forwarded this onto a friend who has
    been doing a little homework onn this. And he in fact bought mme diinner because I stfumbled upon it for him…
    lol. So let me reword this…. Thanks for thhe meal!! But yeah, thanx for spending
    time to talk about this matter here on your website.

  6. Cool one! Interesting article over here. It’s pretty worth enough for me. In my opinion, if all website owners and bloggers made good content as you did, the net will be a lot more useful than ever before.| I could not resist commenting. I ‘ve spent some hours trying to find such tips. I’ll also share it with some friends interested in it. I’ve just bookmarked this web. Finished with the work done, I’ll watch some live Webcams. Gracias!!! Greetings from Barcelona!

  7. Howdy are using WordPress for your site platform?
    I’m new to the blog world but I’m trying to get started and set
    up my own. Do you need any html coding knowledge to make your own blog?
    Any help would be greatly appreciated!

  8. I must thank yoou for the efdorts you’ve put in penning this site.
    I’m hoping to see the same high-grade blog posts from you in the future as well.
    In truth, you creative writing abilities has inspired me to get my very own site now 😉

  9. I’d like to thank you for the efforts you have pput in penning this blog.

    I really hope to check out the same high-grade content by you later on as well.
    In fact, your creatiove writing abilities has motivated mme to
    get my oown site now 😉

  10. It’s going to be finish of mine day, except
    before finish I am reading this impressive article tto improve my knowledge.

  11. It iss appropriate time to make some plans for
    the future and it is time to be happy. I’ve read this post and if I
    could I desire to suggest youu few interesting things or
    suggestions. Perhaps you can write next articles referring to
    this article. I desire to read even more things about it!

  12. Putting up remote security cameras has always been a superb resolution to those who have to monitor everything at a distant. The idea alone of having remote security would imply that we can control and take snapshots from remote places and have them manipulated by our own anywhere. This is another breathtaking initiative for those who want to eye on their protected things and premises remotely.
    https://www.cheapencorner.com/Tools/

  13. Cool! Interesting informations over here. It’s pretty worth enough for me. In my view, if all site owners and bloggers made good content as you did, the web will be much more useful than ever before.| I couldn’t refrain from commenting. I ‘ve spent 1 hour looking for such article. I will also share it with a couple of friends interested in it. I have just bookmarked this web. Right now with the work done, I’ll find some Mundial 2018 Webcams. Thank you!! Regards from WM 2018!

  14. You’ve been working hard lately. All that stress has got to be eating at you. Why not take a break and enjoy some cam girls? There’s plenty of them to enjoy at http://www.camgirl.pw It’s wall to wall babes at this site. You’ll know that right away after your first visit.

  15. I am no longer positive where you are getting your information, but good
    topic. I needs too spend a while studying much more or working out more.

    Thank you for fantastic ifo I was searching for
    this info for my mission.

  16. Hello there friend! Spot on with this write-up, I truly think this website needs much more consideration. I?ll probably be again to read much more, thanks for that info. Again thanks alot for this!

  17. Sweet blog! I found it while browsing on Yahoo News.
    Do you have any suggestions on hoow to get listed in Yahoo News?
    I’ve been trying for a hile but I never seem too get there!
    Thanks

  18. Thanks for helping me to obtain new thoughts about personal computers. I also have belief that one of the best ways to help keep your notebook in perfect condition has been a hard plastic-type case, as well as shell, that will fit over the top of one’s computer. These types of protective gear are model distinct since they are manufactured to fit perfectly across the natural outer shell. You can buy all of them directly from the vendor, or from third party sources if they are available for your notebook computer, however don’t assume all laptop will have a shell on the market. Once again, thanks for your tips.

  19. I have discovered some new items from your web-site about personal computers. Another thing I’ve always assumed is that laptop computers have become a product that each family must have for a lot of reasons. They offer convenient ways in which to organize the home, pay bills, go shopping, study, pay attention to music and even watch shows. An innovative solution to complete these types of tasks is with a mobile computer. These computer systems are portable ones, small, strong and lightweight.

  20. One thing I’d like to say is before getting more computer memory, check out the machine in to which it could be installed. Should the machine can be running Windows XP, for instance, the particular memory ceiling is 3.25GB. Putting in above this would purely constitute any waste. Make sure one’s motherboard can handle your upgrade quantity, as well. Good blog post.

  21. Some tips i have seen in terms of computer memory is the fact there are specs such as SDRAM, DDR or anything else, that must match up the specs of the mother board. If the computer’s motherboard is fairly current and there are no computer OS issues, upgrading the memory literally requires under a couple of hours. It’s one of many easiest pc upgrade techniques one can consider. Thanks for expressing your ideas.

  22. Great blog post. The things i would like to bring up is that personal computer memory ought to be purchased should your computer still can’t cope with that which you do by using it. One can deploy two RAM boards with 1GB each, as an illustration, but not one of 1GB and one with 2GB. One should make sure the company’s documentation for one’s PC to be certain what type of ram it can take.

  23. Thanks for your blog post. Some tips i would like to bring about is that pc memory is required to be purchased if your computer can no longer cope with that which you do by using it. One can mount two random access memory boards containing 1GB each, as an example, but not certainly one of 1GB and one with 2GB. One should check the car maker’s documentation for the PC to be certain what type of ram it can take.

  24. Good blog post. Some tips i would like to bring about is that pc memory is required to be purchased if the computer can no longer cope with everything you do by using it. One can install two RAM boards with 1GB each, by way of example, but not certainly one of 1GB and one having 2GB. One should make sure the maker’s documentation for own PC to make sure what type of storage is required.

  25. I have realized some new items from your web site about computer systems. Another thing I’ve always believed is that laptop computers have become something that each household must have for many reasons. They supply you with convenient ways to organize homes, pay bills, shop, study, tune in to music and in some cases watch tv programs. An innovative method to complete many of these tasks is by using a notebook computer. These computer systems are mobile ones, small, powerful and portable.

  26. Write more, thats all I have to say. Literally, it serems ass though you relied oon the video to make your
    point. You definitey know whzt youre talking about, why throw away your intelligence oon just
    posting vkdeos to your site when you could
    be givinng us something enlightening to read?

  27. I’ve learned some new things via your blog. One other thing I’d like to say is the fact that newer computer os’s are inclined to allow additional memory to be played with, but they in addition demand more memory space simply to perform. If people’s computer is not able to handle more memory plus the newest program requires that storage increase, it might be the time to shop for a new Laptop or computer. Thanks

  28. A few things i have seen in terms of personal computer memory is that there are specifications such as SDRAM, DDR and so forth, that must fit the features of the mother board. If the pc’s motherboard is fairly current and there are no os issues, changing the ram literally normally takes under 1 hour. It’s among the list of easiest laptop or computer upgrade treatments one can think about. Thanks for spreading your ideas.

  29. I have realized some new items from your web site about desktops. Another thing I have always believed is that laptop computers have become an item that each residence must have for most reasons. They offer convenient ways in which to organize the home, pay bills, go shopping, study, listen to music and in some cases watch tv shows. An innovative technique to complete these types of tasks is a mobile computer. These computers are mobile, small, powerful and mobile.

  30. One thing I’d prefer to say is that often before purchasing more pc memory, take a look at the machine in to which it could be installed. If the machine is actually running Windows XP, for instance, the actual memory limit is 3.25GB. The installation of greater than this would purely constitute any waste. Be sure that one’s motherboard can handle the actual upgrade volume, as well. Thanks for your blog post.

  31. One thing I want to say is before purchasing more laptop or computer memory, look into the machine into which it can be installed. Should the machine is running Windows XP, for instance, the memory limit is 3.25GB. Installing in excess of this would simply constitute some sort of waste. Make sure that one’s motherboard can handle the particular upgrade amount, as well. Good blog post.

  32. I am really enjoying the theme/design of your website.
    Do yoou ever run into any internet browser compatibility issues?
    Anumber of my blog readers have complained about my site not operating coorrectly in Explorer but looks great in Firefox.
    Do you have any suggestions to help fix this issue?

  33. I do believe all of the ideas you have introduced in your post.
    They are very convincing and can certainly work. Still,
    the posts are too short for beginners. Could you please prolong therm
    a little from subsequent time? Thanks for the post.

Leave a Reply

Your email address will not be published.