Daily Archives: February 26, 2016

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Income Tax slabs and key tax legislation for the FY 2015-16 (AY 2016-17)

Bank StaffBy Surendra Naik February 26, 2016

Tax slabs for Individuals of below 60 years (Born on or after 01.04.1956). A). Up to Rs.2, 50,000: – Nil B). From Rs.2, 50,001 to Rs.5, 00,000:– 10% on taxable income which exceeds Rs. 2, 50,000/-. C). From Rs.5, 00,001 to Rs.10, 00,000:- 20% [Rs.25, 000/-+ 20% on amount which exceeds Rs. 2, 50,000/-] D).…

Udyog Aadhaar replaces old system of MSME/SSI registration

Legal and Regulatory aspects of banking, Priority Sector AdvancesBy Surendra Naik February 26, 2016 79 Comments

Udyog Aadhaar registration is the new system that replaced the earlier system of SSI registration and EM-I/II. The gazette notification dated 18.09.2015 brought an end to the legacy of registration of SSI and Entrepreneur Memorandum (EM-I/II) as all other online/ offline systems of registration of MSMEs created and maintained by Central/State/UT Governments cease to register…