Your SlideShare is downloading. ×
0
Gtc budget
Gtc budget
Gtc budget
Gtc budget
Gtc budget
Gtc budget
Gtc budget
Gtc budget
Gtc budget
Gtc budget
Gtc budget
Gtc budget
Gtc budget
Gtc budget
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×
Saving this for later? Get the SlideShare app to save on your phone or tablet. Read anywhere, anytime – even offline.
Text the download link to your phone
Standard text messaging rates apply

Gtc budget

556

Published on

Ms. Sujatha Raghuraman ( Understanding Budget 2012-2013)

Ms. Sujatha Raghuraman ( Understanding Budget 2012-2013)

Published in: Business, Economy & Finance
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
556
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
2
Comments
0
Likes
0
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  • 1. CA.Sujatha Raghuraman 1
  • 2.  Budget is a financial plan of government for a given period. Used for projection of future income and expenditure Components of Government Budget – Revenue Receipts and Expenditure & Capital Receipts and Expenditure. Revenue receipt – Revenue collected from collection of taxes and other receipts. Other Receipts – Fees, Fines and penalties, Profit from public sector enterprises, Gifts and grants. CA.Sujatha Raghuraman 2
  • 3.  Revenue Expenditure – Education, consumption of goods and services, agriculture and industrial development, scientific research, health, civil and aviation etc., Capital Receipt – Loan and borrowings from public through Bonds, from RBI and other Financial Institutions, Loans from IMF, World Bank, NSC, PF, Recovery of loan from states and union territories. Capital Expenditure – creation of Infrastructure Project, Irrigation Project, land, Machine, Equipment, Oil exploration, i.e investment in long term Physical and Financial Assets CA.Sujatha Raghuraman 3
  • 4.  Population of India as on March’12 : 1.225 Billion Population growth rate:1.24% Life Expectancy – 66.08 years (Male) - 68.30 years (Female) Literacy Rate 74.04%. Per Capita Income – USD 1,525 . Export Growth – 23.5 % Import Growth – 29.4% Fiscal Deficit – 5.9% of GDP GDP -7.6% CA.Sujatha Raghuraman 4
  • 5. DIRECT TAXESUpto Rs.2 Lacs – NILRs.2 Lacs – Rs.5 Lacs - 10%Rs.5 Lacs – Rs.10 Lacs - 20%Above 10 Lacs - 30%Education Cess continues at 3%.Due to reduction in tax rates, direct tax collections reduceby Rs.4,500 crores. CA.Sujatha Raghuraman 5
  • 6. Indirect Taxes :Excise Duty : Luxury Cars -Gone up to 27% from 22%Import Duty : Luxury cars, Gold have gone up.Customs Duty: High purity gold in various forms doubled.Service Tax: Raised from 10.3 % to 12.36%Collections from Indirect Taxes Rs.41,400 crores. CA.Sujatha Raghuraman 6
  • 7.  Costlier Cars, Two wheeler prices go up. Milk products, Ice creams , Chocolates, Biscuits go up. AC and First Class travel covered under Service Tax, cost of travel goes upto 4%. Refrigerator, Cements Gold and Platinum Jewellery. Travel, Stay in Hotel, Mobile bills, Courier, beauty, health care. AC, Washing Machine, Laptops, watches, perfumes CA.Sujatha Raghuraman 7
  • 8. Cheaper: Branded apparels. LCD TV Silver Jewellery. Home loans. Mobile Phones CA.Sujatha Raghuraman 8
  • 9.  FDI has no clarity in our economy till the next election. – Aviation, Retail, Vodafone etc., Indian Investors: TDS at 1% on sale of property Above Rs.50 lacs.TDS on cash purchase of Jewellery or bullion beyondRs.2lacs. All assets held abroad needs to be declared.Income Tax Assessment can be re-opened upto 16 yearson the assets held abroad. CA.Sujatha Raghuraman 9
  • 10.  Service Tax exemption increased from Rs.15 lacs to Rs.50 lacs. Alternate Minimum tax now on partner ship,and sole proprietorship. Corporate tax remain at the same rate. CA.Sujatha Raghuraman 10
  • 11.  No requirement of paying Advance Tax if don’t have “Income from Business / Profession”. Deduction on Medical Insurance premium gone up from Rs.15,000 to Rs.20,000. Senior Citizen age reduced from 65 to 60 years. CA.Sujatha Raghuraman 11
  • 12.  Rs.50,000 investment in Equity market, those who come within Rs.10 lacs of income get 50% tax exemption- tax savings upto Rs.5,000. Rs.10,00 deduction on interest on savings bank account. Rs.5,000 exemption on the preventive health checkup under medical insurance premium u/s 80D . Long term capital gain exempted if invested Equity Shares of SMEs. STT reduced to 0.1% from 0.125%. CA.Sujatha Raghuraman 12
  • 13.  Moderate Budget – Direct Taxes Unreasonable – Consumers FDI –No hopes for future Costlier – Businessman. Happy Budget – Film makers Transparent – Investors. Growth – Banks and FII. CA.Sujatha Raghuraman 13
  • 14. CA.Sujatha Raghuraman 14

×