The key points of the budget are:
1) The fiscal deficit is projected to be 5.2% of GDP for the current year and 4.8% for next year as the government pledges further fiscal consolidation.
2) No change in personal income tax slabs but a tax credit of Rs. 2000 is provided for those with income up to Rs. 5 lakhs. Surcharge is increased for high income individuals and companies.
3) Service tax and customs duty rates remain unchanged while excise duty and import duty are increased on some items like cigarettes, SUVs, mobiles and set-top boxes.
4) Measures to boost investment in infrastructure like infrastructure
The document provides an overview of key proposals in the Indian Union Budget for 2017, including:
- Reducing personal income tax rates for individuals earning between 2.5-5 lakhs INR from 10% to 5%.
- Introducing a 10% surcharge on individuals earning between 50 lakhs-1 crore INR.
- Reducing the holding period for long term capital gains tax on immovable property from 3 to 2 years.
- Reducing the corporate tax rate for small companies with turnover under 50 crores INR in FY 2016 to 25%.
- Proposing changes to promote digital payments for small unorganized businesses.
For Salient Features of Union Budget 2017 created by Lunawat Team click at - http://lunawat.com/Uploaded_Files/Attachments/F_3558.pdf
Regards
CA Pramod Jain
This document provides a summary of key points from a presentation on the Indian Budget 2017:
1. The presentation covered topics such as the shifting of the budget date, goods and services tax, demonetization, and the government's agenda for the coming year focused on farmers, rural development, youth, infrastructure and more.
2. Digital India, an initiative to connect rural areas and increase digital access, was discussed along with India's growing economic competitiveness on the global stage.
3. Key aspects of the general anti-avoidance rule (GAAR) and place of effective management (POEM) for determining corporate tax residency were summarized, including examples.
The India Budget 2012 document provides a summary of key tax changes and policy initiatives presented in the Indian budget. Some of the major tax changes include: increasing the income tax exemption limit and maximum tax rate slab; introducing a general anti-avoidance rule to curb tax avoidance; raising the service tax rate; and increasing excise duties on cars and jewellery. The budget also focuses on implementing a nationwide goods and services tax and allowing more foreign investment in certain sectors like retail and aviation.
Budget 2015: Nangia & Co Summarises The Important Provisions of the Union Bud...nangiaadvisors
This budget document summarizes key proposals in the Union Budget 2015, including direct tax proposals like corporate tax rate reduction, personal tax changes, and measures to curb black money. Indirect tax proposals cover goods and services tax, changes to excise, service tax, and customs duty rates and rules. The budget aims to boost growth while maintaining fiscal prudence and a business friendly environment through tax incentives and reduced red tape. Implementation of GST in 2016 is reaffirmed.
The document summarizes key aspects of the Direct Tax Code (DTC) 2010 introduced in India. Some key points:
1. The DTC 2010 aims to replace the existing Income Tax Act 1961 and simplify direct tax laws using simple language. It consolidates various direct tax laws into a single code.
2. Major changes include a single slab for all individuals (0-30% tax), corporate tax rate reduced to 30%, wealth tax rate cut to 0.25%, capital gains tax treated separately.
3. The DTC proposes the EET model for taxing investments and aims to promote long-term investments. Key dates for tax filing also changed to 30th June and 31st August.
The document summarizes key highlights from the Union Budget for 2018-19 presented by the Finance Minister in India. Some key points include:
- The budget continued fiscal discipline while targeting spending on rural development, education, healthcare, and MSME sector.
- GDP growth is projected to be 6.75% for 2017-18 and 7-7.5% for 2018-19.
- Changes were announced in direct taxes including income tax slabs and deductions. Capital gains tax was introduced for equity investments.
- Agriculture, rural development, and health sectors saw increased allocations for schemes.
- Corporate tax rate was reduced for small and medium enterprises.
The document summarizes the key highlights of the Indian government's 2018 budget. It outlines differences between government and business accounting, the major components of government expenditures and receipts, and defines fiscal deficit. It then details several new major expenditure initiatives in areas like agriculture, welfare, education, and healthcare. Other initiatives include infrastructure projects and reforms in taxation, banking, and markets. The analysis suggests the budget aims to boost growth through fiscal expansion and reforms while maintaining a fiscal deficit of 3.5% of GDP. It is expected to increase investment, employment, consumption, and GDP.
The document provides an overview of key proposals in the Indian Union Budget for 2017, including:
- Reducing personal income tax rates for individuals earning between 2.5-5 lakhs INR from 10% to 5%.
- Introducing a 10% surcharge on individuals earning between 50 lakhs-1 crore INR.
- Reducing the holding period for long term capital gains tax on immovable property from 3 to 2 years.
- Reducing the corporate tax rate for small companies with turnover under 50 crores INR in FY 2016 to 25%.
- Proposing changes to promote digital payments for small unorganized businesses.
For Salient Features of Union Budget 2017 created by Lunawat Team click at - http://lunawat.com/Uploaded_Files/Attachments/F_3558.pdf
Regards
CA Pramod Jain
This document provides a summary of key points from a presentation on the Indian Budget 2017:
1. The presentation covered topics such as the shifting of the budget date, goods and services tax, demonetization, and the government's agenda for the coming year focused on farmers, rural development, youth, infrastructure and more.
2. Digital India, an initiative to connect rural areas and increase digital access, was discussed along with India's growing economic competitiveness on the global stage.
3. Key aspects of the general anti-avoidance rule (GAAR) and place of effective management (POEM) for determining corporate tax residency were summarized, including examples.
The India Budget 2012 document provides a summary of key tax changes and policy initiatives presented in the Indian budget. Some of the major tax changes include: increasing the income tax exemption limit and maximum tax rate slab; introducing a general anti-avoidance rule to curb tax avoidance; raising the service tax rate; and increasing excise duties on cars and jewellery. The budget also focuses on implementing a nationwide goods and services tax and allowing more foreign investment in certain sectors like retail and aviation.
Budget 2015: Nangia & Co Summarises The Important Provisions of the Union Bud...nangiaadvisors
This budget document summarizes key proposals in the Union Budget 2015, including direct tax proposals like corporate tax rate reduction, personal tax changes, and measures to curb black money. Indirect tax proposals cover goods and services tax, changes to excise, service tax, and customs duty rates and rules. The budget aims to boost growth while maintaining fiscal prudence and a business friendly environment through tax incentives and reduced red tape. Implementation of GST in 2016 is reaffirmed.
The document summarizes key aspects of the Direct Tax Code (DTC) 2010 introduced in India. Some key points:
1. The DTC 2010 aims to replace the existing Income Tax Act 1961 and simplify direct tax laws using simple language. It consolidates various direct tax laws into a single code.
2. Major changes include a single slab for all individuals (0-30% tax), corporate tax rate reduced to 30%, wealth tax rate cut to 0.25%, capital gains tax treated separately.
3. The DTC proposes the EET model for taxing investments and aims to promote long-term investments. Key dates for tax filing also changed to 30th June and 31st August.
The document summarizes key highlights from the Union Budget for 2018-19 presented by the Finance Minister in India. Some key points include:
- The budget continued fiscal discipline while targeting spending on rural development, education, healthcare, and MSME sector.
- GDP growth is projected to be 6.75% for 2017-18 and 7-7.5% for 2018-19.
- Changes were announced in direct taxes including income tax slabs and deductions. Capital gains tax was introduced for equity investments.
- Agriculture, rural development, and health sectors saw increased allocations for schemes.
- Corporate tax rate was reduced for small and medium enterprises.
The document summarizes the key highlights of the Indian government's 2018 budget. It outlines differences between government and business accounting, the major components of government expenditures and receipts, and defines fiscal deficit. It then details several new major expenditure initiatives in areas like agriculture, welfare, education, and healthcare. Other initiatives include infrastructure projects and reforms in taxation, banking, and markets. The analysis suggests the budget aims to boost growth through fiscal expansion and reforms while maintaining a fiscal deficit of 3.5% of GDP. It is expected to increase investment, employment, consumption, and GDP.
Loop holes in tax codes allow exploitation of ambiguities and technicalities to reduce or eliminate taxes legally. Some ways to avoid taxes include contributing to charity, deferring income, or doing a bond swap. However, exploiting loopholes may lead to intensive tax audits. The Direct Tax Code aims to simplify taxes through a standardized tax slab and removal of most exemptions.
The budget aims to boost investment in agriculture, social sectors, infrastructure and job creation. Total expenditure is budgeted at Rs. 19.7 lakh crores, with Rs. 10.5 lakh crores from tax receipts. Key tax proposals include increasing tax rebates for individuals earning under Rs. 5 lakhs, expanding presumptive taxation schemes for MSMEs and professionals, and providing tax exemptions for pension withdrawals and annuity funds. Measures also promote affordable housing, resource mobilization for rural development and clean environment, and reducing litigation through tax amnesty and settlement schemes.
Deductions on section 80 c, 80ccc, 80ccd UGC -NET COMMERCE DIwakar Rajput
This document discusses various tax deductions that can be claimed under Sections 80C, 80CCC, 80CCD, and 80D of the Indian Income Tax Act. Some key deductions include:
1. Section 80C allows deduction of up to Rs. 1.5 lakh for investments/payments such as life insurance premium, PPF, NSC, etc.
2. Section 80CCC provides deduction for annuity premium paid to LIC or other insurers for receiving pension.
3. Section 80CCD allows deduction of up to 10% of salary for employee pension contributions and up to Rs. 1.5 lakh for self-employed individuals.
4. Section 80D allows deduction of
The document summarizes key highlights from the Union Budget related to trusts, tax rates for small companies, house property, business income, capital gains, deductions, transfer pricing, special tax rates, TDS, and return filing provisions. Some key changes include an increased tax rate of 25% for small companies with turnover up to 50 crores, reduced holding period for long term capital gains on immovable property from 36 to 24 months, and increased contribution limits for NPS deductions.
The document summarizes key aspects of the Indian Union Budget and Direct Tax Codes, including:
1) The Union Budget is presented annually by the Finance Minister and outlines government revenues, expenditures, and key tax proposals. Gross tax receipts are estimated at Rs. 9,32,440 cr for 2011-12 with a fiscal deficit of 4.6% of GDP.
2) The Direct Tax Code proposes to replace the existing Income Tax Act and removes many tax saving schemes. It introduces new schemes like the National Pension Scheme and standardizes tax slabs for individuals.
3) Various incomes are exempted from tax under different sections of the Income Tax Act like receipts from Hindu Undivided Fam
This document summarizes key changes from the Indian Budget 2017 relating to direct taxes, indirect taxes, and other financial measures. For individuals, the document outlines changes such as reduced income tax rates, increased deduction limits, and simplified income tax returns. For corporates and professionals, it discusses changes like the corporate tax rate and presumptive taxation. The document also summarizes changes to capital gains tax, TDS/TCS provisions, and introduces new penalties for non-compliance. Regarding indirect taxes, it notes that the Goods and Services Tax is expected to be implemented soon and replaces existing service tax and excise duty laws.
The document appears to contain information about various Indian taxes including income tax, sales tax, wealth tax, and service tax. It provides definitions and key details about the different types of taxes such as the tax rates, applicable entities, exemptions, and controversies in certain areas. It also summarizes the objectives and issues with some of these taxes in India.
The budget document outlines key details of the 2017-18 Indian union budget. Some highlights include a fiscal deficit target of 3.2% of GDP, total borrowing estimated at Rs. 546332 crore, a reduction of the corporate tax rate for MSMEs to 25%, and a reduction of the tax rate on income up to Rs. 5 lakh to 5%. It also notes a 25.4% increase in capital expenditure from the previous year.
Accretive SDU communique - Tax Contours of India Budget 2016-17Badrinath N R
The document summarizes key aspects of the India Budget 2016-17. It discusses the government's socio-economic objectives for taxation, including balancing the fiscal deficit while enabling growth. It outlines several new taxes and levies introduced, such as the Equalization Levy on online advertising. Tax reliefs and incentives are proposed for sectors like affordable housing, startups, and manufacturing. Rationalization measures include clarifying the place of effective management rule for foreign firms and relaxing rules for investment allowance.
The document summarizes key proposals from the Indian Union Budget 2018-19. Some highlights include:
- Long term capital gains tax of 10% introduced for gains over Rs. 1 lakh from sale of equity shares.
- Standard deduction of Rs. 40,000 introduced for salary income.
- Tax benefits for startups extended and eligibility criteria expanded.
- Corporate tax rate reduced to 25% for companies with turnover up to Rs. 250 crores.
- Several goods and services brought under lower GST rates of 5%, 12%, and 18%.
The Union Budget for 2017-18 was presented by Finance Minister Arun Jaitley on February 1st, 2017 with an overall size of 21.47 lakh crore rupees. Key focuses of the budget included transforming governance, energizing various sections of society including youth and farmers, and cleaning the country from corruption. Major allocations were made for infrastructure development, rural development including doubling farmers' income, healthcare, education and skills development, and the defense sector. The fiscal deficit target for 2017-18 was set at 3.2% of GDP.
The Union Budget 2017 document summarizes key changes announced in the Indian Union Budget of 2017 and their implications. Some of the major changes include reductions in income tax rates for individual income between 2.5 to 5 lakhs, a reduction in the income tax rebate amount, restrictions on cash transactions over 300,000 rupees, a 10% income tax surcharge for incomes between 50 to 100 lakhs, and reductions in the permissible amount for cash donations from 10,000 to 2,000 rupees. The budget also included exempting long term capital gains from equity investments from tax if securities transaction tax was paid, penalties for delayed income tax filings, and changes to long term capital gains holding periods and the
VARIOUS FORMS OF INCOME TAX ,BASIC KNOWLEDGE OF GST PPT WHICH REQUIRED FOR A STUDENT TO UNDERSTAND DIRECT AND INDIRECT TAXATION. STUDENTS STUDYING B.COM AND M.COM WILL BE BENEFITED . FOR PRACTITIONERS ALSO WILL BENEFIT.
The document summarizes income tax collection in Pakistan. It discusses that income tax is collected by the Federal Board of Revenue and is imposed on taxable income under five heads: salary, property income, business income, capital gains, and other income. It outlines the types of income taxed under each head such as wages, rents, profits, capital asset sales proceeds. The document also mentions that the purpose of taxation is to finance government expenditures like defense, welfare, and development projects. It provides an overview of Pakistan's income tax law and the bodies responsible for taxation.
Maximum marginal rate of tax is very complicated topic in Income Tax. This PPT will help you understanding well this topic in a easy and practical manner.
The budget document provides an analysis of key aspects of the Union Budget 2013 presented by the Finance Minister. Some key points:
1) No changes were made to personal income tax slab rates but a 10% surcharge will be levied on incomes over Rs. 1 crore for one year. Tax rebates and deductions for home loans, donations, and disability insurance were introduced or increased.
2) Excise duties were increased for SUVs, cigarettes and mobile phones but decreased for trucks. Complete exemption was provided for certain agricultural and handicraft products.
3) Custom duties were increased for imported cars, motorcycles, boats and set top boxes but decreased for agricultural products like oats and rice bran.
The Hon’ble Finance Minister presented the NDA Government’s first full-year budget before the lower house of the Parliament. With expectations rocketing sky high on the new Government and with the mandate the Government possesses, it has come up with earnest to unclog the process and put in place a strong foundation for the all new Indian Economy.
In the document attached, we have provided a glimpse of the tax proposals announced in the budget for your reference.
This document provides an overview of income tax systems in India and Australia. It discusses the history and introduction of income tax in both countries, key aspects of how income tax is levied and collected, and compares some key tax rates between the two countries. It also summarizes the objectives and provisions of a tax treaty signed between India and Australia in 2011 to avoid double taxation and help facilitate economic cooperation between the two countries.
The Effect of Income tax and VAT on individual progress in Pakistan. Adnan Abdullah
The document discusses the effects of income tax and value-added tax (VAT) on individual progress in Pakistan. It provides background on income tax and VAT, and notes that the Pakistani government is considering replacing sales tax with VAT to increase tax revenue collection. However, implementing VAT could negatively impact consumers and businesses through price hikes, and harm exports. The document also notes that taxes reduce productivity and economic efficiency, and that most Pakistanis do not currently pay income taxes.
Budget Analysis of Union Budget 2017 in relation to amendments made in Income Tax Act, 1961 and Service Tax. A comprehensive and detailed analysis in simple language for better understanding of every class of readers.
O autor discute as dificuldades financeiras que os casais enfrentam, como divergências sobre orçamento e gastos que podem levar a conflitos. Ele também aborda a importância do planejamento financeiro, mas reconhece que começar pode ser difícil e manter a motivação para continuar o plano é quase tão difícil quanto iniciar. Além disso, o autor destaca que investir é essencial para garantir e melhorar o padrão de vida no futuro.
Loop holes in tax codes allow exploitation of ambiguities and technicalities to reduce or eliminate taxes legally. Some ways to avoid taxes include contributing to charity, deferring income, or doing a bond swap. However, exploiting loopholes may lead to intensive tax audits. The Direct Tax Code aims to simplify taxes through a standardized tax slab and removal of most exemptions.
The budget aims to boost investment in agriculture, social sectors, infrastructure and job creation. Total expenditure is budgeted at Rs. 19.7 lakh crores, with Rs. 10.5 lakh crores from tax receipts. Key tax proposals include increasing tax rebates for individuals earning under Rs. 5 lakhs, expanding presumptive taxation schemes for MSMEs and professionals, and providing tax exemptions for pension withdrawals and annuity funds. Measures also promote affordable housing, resource mobilization for rural development and clean environment, and reducing litigation through tax amnesty and settlement schemes.
Deductions on section 80 c, 80ccc, 80ccd UGC -NET COMMERCE DIwakar Rajput
This document discusses various tax deductions that can be claimed under Sections 80C, 80CCC, 80CCD, and 80D of the Indian Income Tax Act. Some key deductions include:
1. Section 80C allows deduction of up to Rs. 1.5 lakh for investments/payments such as life insurance premium, PPF, NSC, etc.
2. Section 80CCC provides deduction for annuity premium paid to LIC or other insurers for receiving pension.
3. Section 80CCD allows deduction of up to 10% of salary for employee pension contributions and up to Rs. 1.5 lakh for self-employed individuals.
4. Section 80D allows deduction of
The document summarizes key highlights from the Union Budget related to trusts, tax rates for small companies, house property, business income, capital gains, deductions, transfer pricing, special tax rates, TDS, and return filing provisions. Some key changes include an increased tax rate of 25% for small companies with turnover up to 50 crores, reduced holding period for long term capital gains on immovable property from 36 to 24 months, and increased contribution limits for NPS deductions.
The document summarizes key aspects of the Indian Union Budget and Direct Tax Codes, including:
1) The Union Budget is presented annually by the Finance Minister and outlines government revenues, expenditures, and key tax proposals. Gross tax receipts are estimated at Rs. 9,32,440 cr for 2011-12 with a fiscal deficit of 4.6% of GDP.
2) The Direct Tax Code proposes to replace the existing Income Tax Act and removes many tax saving schemes. It introduces new schemes like the National Pension Scheme and standardizes tax slabs for individuals.
3) Various incomes are exempted from tax under different sections of the Income Tax Act like receipts from Hindu Undivided Fam
This document summarizes key changes from the Indian Budget 2017 relating to direct taxes, indirect taxes, and other financial measures. For individuals, the document outlines changes such as reduced income tax rates, increased deduction limits, and simplified income tax returns. For corporates and professionals, it discusses changes like the corporate tax rate and presumptive taxation. The document also summarizes changes to capital gains tax, TDS/TCS provisions, and introduces new penalties for non-compliance. Regarding indirect taxes, it notes that the Goods and Services Tax is expected to be implemented soon and replaces existing service tax and excise duty laws.
The document appears to contain information about various Indian taxes including income tax, sales tax, wealth tax, and service tax. It provides definitions and key details about the different types of taxes such as the tax rates, applicable entities, exemptions, and controversies in certain areas. It also summarizes the objectives and issues with some of these taxes in India.
The budget document outlines key details of the 2017-18 Indian union budget. Some highlights include a fiscal deficit target of 3.2% of GDP, total borrowing estimated at Rs. 546332 crore, a reduction of the corporate tax rate for MSMEs to 25%, and a reduction of the tax rate on income up to Rs. 5 lakh to 5%. It also notes a 25.4% increase in capital expenditure from the previous year.
Accretive SDU communique - Tax Contours of India Budget 2016-17Badrinath N R
The document summarizes key aspects of the India Budget 2016-17. It discusses the government's socio-economic objectives for taxation, including balancing the fiscal deficit while enabling growth. It outlines several new taxes and levies introduced, such as the Equalization Levy on online advertising. Tax reliefs and incentives are proposed for sectors like affordable housing, startups, and manufacturing. Rationalization measures include clarifying the place of effective management rule for foreign firms and relaxing rules for investment allowance.
The document summarizes key proposals from the Indian Union Budget 2018-19. Some highlights include:
- Long term capital gains tax of 10% introduced for gains over Rs. 1 lakh from sale of equity shares.
- Standard deduction of Rs. 40,000 introduced for salary income.
- Tax benefits for startups extended and eligibility criteria expanded.
- Corporate tax rate reduced to 25% for companies with turnover up to Rs. 250 crores.
- Several goods and services brought under lower GST rates of 5%, 12%, and 18%.
The Union Budget for 2017-18 was presented by Finance Minister Arun Jaitley on February 1st, 2017 with an overall size of 21.47 lakh crore rupees. Key focuses of the budget included transforming governance, energizing various sections of society including youth and farmers, and cleaning the country from corruption. Major allocations were made for infrastructure development, rural development including doubling farmers' income, healthcare, education and skills development, and the defense sector. The fiscal deficit target for 2017-18 was set at 3.2% of GDP.
The Union Budget 2017 document summarizes key changes announced in the Indian Union Budget of 2017 and their implications. Some of the major changes include reductions in income tax rates for individual income between 2.5 to 5 lakhs, a reduction in the income tax rebate amount, restrictions on cash transactions over 300,000 rupees, a 10% income tax surcharge for incomes between 50 to 100 lakhs, and reductions in the permissible amount for cash donations from 10,000 to 2,000 rupees. The budget also included exempting long term capital gains from equity investments from tax if securities transaction tax was paid, penalties for delayed income tax filings, and changes to long term capital gains holding periods and the
VARIOUS FORMS OF INCOME TAX ,BASIC KNOWLEDGE OF GST PPT WHICH REQUIRED FOR A STUDENT TO UNDERSTAND DIRECT AND INDIRECT TAXATION. STUDENTS STUDYING B.COM AND M.COM WILL BE BENEFITED . FOR PRACTITIONERS ALSO WILL BENEFIT.
The document summarizes income tax collection in Pakistan. It discusses that income tax is collected by the Federal Board of Revenue and is imposed on taxable income under five heads: salary, property income, business income, capital gains, and other income. It outlines the types of income taxed under each head such as wages, rents, profits, capital asset sales proceeds. The document also mentions that the purpose of taxation is to finance government expenditures like defense, welfare, and development projects. It provides an overview of Pakistan's income tax law and the bodies responsible for taxation.
Maximum marginal rate of tax is very complicated topic in Income Tax. This PPT will help you understanding well this topic in a easy and practical manner.
The budget document provides an analysis of key aspects of the Union Budget 2013 presented by the Finance Minister. Some key points:
1) No changes were made to personal income tax slab rates but a 10% surcharge will be levied on incomes over Rs. 1 crore for one year. Tax rebates and deductions for home loans, donations, and disability insurance were introduced or increased.
2) Excise duties were increased for SUVs, cigarettes and mobile phones but decreased for trucks. Complete exemption was provided for certain agricultural and handicraft products.
3) Custom duties were increased for imported cars, motorcycles, boats and set top boxes but decreased for agricultural products like oats and rice bran.
The Hon’ble Finance Minister presented the NDA Government’s first full-year budget before the lower house of the Parliament. With expectations rocketing sky high on the new Government and with the mandate the Government possesses, it has come up with earnest to unclog the process and put in place a strong foundation for the all new Indian Economy.
In the document attached, we have provided a glimpse of the tax proposals announced in the budget for your reference.
This document provides an overview of income tax systems in India and Australia. It discusses the history and introduction of income tax in both countries, key aspects of how income tax is levied and collected, and compares some key tax rates between the two countries. It also summarizes the objectives and provisions of a tax treaty signed between India and Australia in 2011 to avoid double taxation and help facilitate economic cooperation between the two countries.
The Effect of Income tax and VAT on individual progress in Pakistan. Adnan Abdullah
The document discusses the effects of income tax and value-added tax (VAT) on individual progress in Pakistan. It provides background on income tax and VAT, and notes that the Pakistani government is considering replacing sales tax with VAT to increase tax revenue collection. However, implementing VAT could negatively impact consumers and businesses through price hikes, and harm exports. The document also notes that taxes reduce productivity and economic efficiency, and that most Pakistanis do not currently pay income taxes.
Budget Analysis of Union Budget 2017 in relation to amendments made in Income Tax Act, 1961 and Service Tax. A comprehensive and detailed analysis in simple language for better understanding of every class of readers.
O autor discute as dificuldades financeiras que os casais enfrentam, como divergências sobre orçamento e gastos que podem levar a conflitos. Ele também aborda a importância do planejamento financeiro, mas reconhece que começar pode ser difícil e manter a motivação para continuar o plano é quase tão difícil quanto iniciar. Além disso, o autor destaca que investir é essencial para garantir e melhorar o padrão de vida no futuro.
Kristine Torcuator 4.4 FINAL Personal Persona Project Slide ShowKayTorcuator
This document provides biographical information about Kristine Torcuato in multiple paragraphs with accompanying photos. It summarizes her education and career goals. She graduated high school in 2007 and attended two colleges before earning her bachelor's degree from Full Sail University in Entertainment Business. Her goal is to earn master's and doctorate degrees and work as a television producer. The document emphasizes the importance of education and highlights her management experience and leadership/organizational skills.
Este documento presenta una lección sobre la Semana Santa. Propone que los estudiantes observen una presentación sobre la Semana Santa y respondan preguntas sobre su significado e importancia. Luego analicen diapositivas que explican eventos clave como el Triduo Pascual, el Jueves Santo y el Domingo de Resurrección. Finalmente, deben reflexionar sobre los valores y lecciones que aprendieron.
Este documento contiene 15 fotografías modificadas por Pablo Pérez González usando el programa GIMP. Las fotografías fueron editadas y alteradas de diferentes maneras usando las herramientas de edición de imágenes de GIMP.
O documento descreve as principais mudanças ortográficas introduzidas pelo acordo ortográfico de 1990, incluindo a adição de três novas letras ao alfabeto, a remoção do trema em certas palavras e regras de acentuação, e o uso do hífen em prefixos.
This document does not contain any meaningful information to summarize in 3 sentences or less. It appears to be an error log or output from a system with an undefined error and offending command listed along with a stack address. No further context or content is provided.
The document summarizes key aspects of the Indian Union Budget for 2012-2013, including plans to achieve the Vision 2020 goals, changes to personal income tax rates and exemptions, support for infrastructure development, rural development, education, and skill building. It also provides an overview of the Indian economy and analysis of the budget's expected impacts on business, fiscal consolidation, economic changes, and consumers.
The 2012-13 Union Budget aims to cut the fiscal deficit from 5.9% to 5.1% while raising GDP growth to 7.6% through fiscal consolidation and raising additional taxes. Key measures include raising excise and service tax rates, increasing infrastructure investment, allowing foreign dividend repatriation, and introducing new tax-saving investment schemes. However, fiscal targets may be difficult to achieve if revenue falls short, crude oil prices rise substantially, or growth does not recover as projected. Overall the budget focuses on boosting key sectors like infrastructure, health, education, and rural development to support economic growth.
Union Budget 2012-13 aimed to boost growth while reducing the fiscal deficit. Key measures included increasing indirect tax rates to pave way for GST, introducing GAAR to curb tax avoidance, and relaxing ECB norms to support infrastructure and other sectors. However, the proposed retrospective amendment to tax indirect transfer of Indian assets could face legal challenges and impact investment. Overall the budget focused on fiscal consolidation and growth, but timely implementation will determine its effectiveness.
The document discusses several issues related to tax reforms in Pakistan. It notes that the failure of previous tax reforms and flood relief expenditures have made Pakistan's fiscal imbalance unsustainable. It recommends eliminating tax exemptions for the rich to increase revenue, spending more on education and health, and conditioning donor funding on economic reforms to promote sustainable growth.
This document summarizes key aspects of the Indian government's budget for 2012-2013. It notes that GDP growth for 2011-2012 is estimated to be 6.9%, lower than the previous two years due to global economic issues. The fiscal deficit for 2012-2013 is projected to be 5.1% of GDP, an improvement from 5.9% the previous year. Taxes are adjusted with new income tax slabs and exemptions for senior citizens, health insurance, and capital gains from property sale. Disinvestment targets are set at 30,000 crore rupees. Efforts to reform taxation include a direct tax code and goods and services tax.
The document summarizes key changes in direct and indirect taxes in India's 2015-16 budget. For direct taxes, there is no change in income tax rates but additional depreciation was increased for manufacturing in backward areas of two states. Donations to certain funds are now eligible for a 100% tax deduction. Surcharge rates on companies were increased. For indirect taxes, excise duty rates were increased slightly and education cess exempted. Service tax rates were increased to 14% and a new Swachh Bharat cess of 2% was introduced. Customs duty was reduced on some imports. International tax changes include a reduced 10% tax rate on foreign royalty and technical fees. GAAR provisions were deferred and tax benefits
This document summarizes key aspects of the Indian government's budget for 2012-2013. It notes that GDP growth for 2011-2012 is estimated to be 6.9%, lower than the previous two years due to global economic issues. The fiscal deficit for 2012-2013 is projected to be 5.1% of GDP, an improvement from 5.9% the previous year. Taxes were revised with a higher threshold for individual taxes and exemptions for senior citizens, health insurance, and capital gains from property sale for small businesses. Disinvestment targets were set at 30,000 crore rupees.
This document provides an overview and analysis of key highlights from the Budget Connect+ 2015 publication. It includes summaries of income tax rates and proposals, customs duty changes, excise duty rates, service tax changes, and CENVAT credit rules. It also provides data on key economic indicators like GDP growth, inflation, fiscal deficit, and trade balances. The challenges and outlook for the Indian economy as identified in the Economic Survey 2014-15 are also briefly outlined, such as the need for increased investment in agriculture.
We all welcome the Union Budget 2016-17 and consider it reformist budget aimed at creating strong base for economic growth.
The budgetary proposals are built on transformative agenda standing on nine (9) pillars, which could be regarded as facilitators to the various programs of national importance (7 programs) like Start-up India, Digital India, Make in India, Smart India, Stand-up India, Skill India and Clean India.
The document provides an overview of key proposals in the Indian Union Budget for 2017, including:
- Reducing personal income tax rates for individuals earning between 2.5-5 lakhs INR from 10% to 5%.
- Introducing a 10% surcharge on individuals earning between 50 lakhs-1 crore INR.
- Reducing the holding period for long term capital gains tax on immovable property from 3 to 2 years.
- Reducing the corporate tax rate for small companies with turnover under 50 crores INR in FY 2016 to 25%.
- Proposing changes to promote digital payments for small unorganized businesses.
It gives me a pleasure to present the summary and analysis of Union Budget 2018.
Union Budget 2018 proves a stepping stone towards rising governance and analyzing direct tax proposals that will help India maintain its stand as the fastest growing economy in the world.
With the aim to provide you an economic overview and direct tax proposals, this snapshot also decodes the impact of each and every provision on you and your company.
Hope you find this analysis useful in taking business decisions and align your company's strategy with overall economic climate for the upcoming financial year.
Would love to hear your feedback on the usefulness of the same.
Thanks a lot.
The budget document discusses key changes made in the Union Budget 2017 presented by the Finance Minister, including:
- The budget date was advanced to February 1 to allow ministries time to implement activities from April 1.
- The railway budget was merged with the general budget, discontinuing a colonial-era practice.
- Classification of expenditures as plan and non-plan was removed, with allocation divided into capital and revenue.
- Measures were introduced to curb black money while focusing on rural growth and digitizing the economy. Tax relief was provided for individuals and small companies.
The budget aims to transform, energize, and clean India with a focus on long-term vision.
A budget is a quantitative expression of a financial plan, we all know that but, not everyone understands the whole of Budget. For this reason alone, the budget views are presented in a PPT format for your reference.
A presentation by CA Manish Hingar
The budget document provides details on India's fiscal highlights and targets for the coming year, including a GDP growth target of 9% and a fiscal deficit target of 4.6% of GDP. It outlines changes to direct and indirect taxes, including modest increases to income tax exemption limits. Excise duties were increased on some items like iron ore but decreased on others to incentivize sectors like agriculture. Additional services were brought under the service tax net. Allocations were increased for key sectors like infrastructure, social spending, and education, though some allocations like Rs 300 crore for agriculture supply chain management were viewed as too small.
The budget document provides details on key fiscal highlights including a GDP growth target of 9% and a fiscal deficit target of 4.6% of GDP. It outlines plans to lower the corporate tax surcharge and increase exemptions for individual taxpayers, as well as changes to indirect taxes that will make some consumer goods cheaper and some services more expensive. Key areas that are positively impacted include infrastructure, where allocation was increased 23%, and education, where allocation rose 24%. However, some questions remain about whether the targets can be achieved and if enough is being done to support farmers and alleviate rural issues.
The basic schemes, reforms, policy announced by our financial minister Mr. Arun Jetley was described in the slides. It will be more useful for everyone. It helps even a common man to learn about our country's budget.
The document summarizes key announcements from the Indian Union Budget 2020-21 across several sectors:
- Individual tax proposals include a new optional simplified personal tax regime, changes to residency rules, and taxation of employer contributions to provident funds above Rs. 750,000. Dividend income will now be taxed in the hands of recipients.
- Measures to stimulate growth include tax exemptions for sovereign wealth funds, no change in corporate tax rates but a reduced 15% rate for new power sector companies. Concessional borrowing rates were extended.
- Key sectors highlighted include agriculture and food processing, education and skill development, and infrastructure, transport, and power, with increased allocations and policy initiatives outlined
The document provides an analysis of the Union Budget of India for 2011. It includes sections on understanding the budget, the finance minister's speech, budget estimates, direct taxes, indirect taxes covering various sectors like agriculture, manufacturing, environment and infrastructure. It also discusses service tax and other proposals. The document aims to provide an overview of the key aspects of the Union Budget to internal stakeholders.
The Union Budget for 2011-12 had mixed impacts across various sectors:
- Infrastructure allocation increased substantially while real estate saw some positive measures for affordable housing.
- The IT industry was negatively impacted by an increased MAT rate and its application to SEZ units.
- Steel saw higher export duties as a boost while oil and gas faced no tax reliefs.
- Textiles, fertilizers, and banking received support but aviation and healthcare saw some cost increases.
1. Budget Highlights – February 2013
Economy Assessment:
Taxes:
Growth:
Clarity in tax laws, a stable tax regime, a non-adversarial
Getting back to potential growth rate of 8% is the tax administration, a fair mechanism for dispute
challenge facing the country. resolution and independent judiciary for greater
Slowdown in Indian economy has to be seen in the assurance was underlying theme of tax proposals
context of slowing global economic growth from
3.9% in 2011 to 3.2% in 2012. Target to achieve 11.9% of tax GDP ratio
However, no reason for gloom or pessimism. Of the
large countries of the world only China and Direct Taxes - Individual & Corporate:
Indonesia growing faster than India in 2012-13. In
2013-14, only China projected to grow faster than
No change in Slab Rates for personal income tax.
India.
o No tax up to Rs. 2 lakh;
Inflation:
o 10% tax on 2 lakh to 5 lakh;
o 20% on 5 lakh - 10 lakh;
Headline WPI inflation to 7% and core inflation to 4.2%.
Food inflation is worrying but all possible steps to be o 30% on 10 lakh and above
taken to augment the supply.
Tax credit of Rs 2000 to be provided to every person
to having income of up to Rs 5 lakh, this will benefit
Fiscal & Current Account Deficit:
1.8 crores people.
Fiscal deficit will be 5.2% in current year and
4.8% in the next fiscal. Surcharge of 10 per cent for individuals whose
Revenue deficit for the current year at 3.9% and taxable income is over Rs 1 crores.
for the year 2013-14 at 3.3%. Increase surcharge from 5 to 10% on domestic
FM pledged to reduce fiscal deficit to 3% by companies whose taxable income exceed 10 crores.
2016-17 and revenue deficit to 1.5% of GDP. In case of foreign companies who pay a higher rate
In 2011-12, tax-GDP ratio was 5.5 per cent for of corporate tax, surcharge to increase from 2 to 5
direct taxes and 4.6 per cent for indirect taxes. %, if the taxable income exceeds 10 crores.
Foreign investment in an imperative in view of In all other cases such as dividend distribution tax or
the high current account deficit (CAD). FII, FDI tax on distributed income, current surcharge
and ECB three main source of CAD Financing. increased from 5 to 10 %.
Foreign Additional surcharges to be in force for only one
year.
Education cess to continue at 3 per cent.
Plan & Budgetary Allocations
‘Eligible date’ for projects in the power sector to avail
benefit under Section 80-IA extended from
Revised Estimates (RE) of the expenditure in 2012- 31.3.2013 to 31.3.2014
13 at 96 per cent of the Budget Estimates (BE) due Concessional rate of tax of 15 percent on dividend
to slowdown and austerity measures. received by an Indian company from its foreign
During 2013-14, BE of total expenditure of subsidiary proposed to continue for one more year.
16, 65,297 crores and of Plan Expenditure at Parity in taxation between IDF-Mutual Fund and IDF-
5, 55,322 crores. NBFC.
Plan Expenditure in 2013-14 to grow at 29.4% over
Revised Estimates for the current year.
2. A Category I AIF set up as Venture capital fund
allowed pass through status under Income-tax Act.
Impact on Retail Investor:
TDS at the rate of 1 % on the value of the transfer of
immovable properties where consideration exceeds Securities Transaction Tax (STT) reduced on
50 lakhs. Agricultural land to be exempted. equity future, mutual fund.
A final withholding tax at the rate of 20 % on profits Rajiv Gandhi Equity Scheme will be liberalized
distributed by unlisted companies to shareholders to allow first time investor to invest in Mutual
Fund and equity (income threshold increased
through buyback of shares.
from 10 lakhs to 12 lakhs).
Proposal to increase the rate of tax on payments by
way of royalty and fees for technical services to non- Rajiv Gandhi Equity Saving Scheme to allow for
income tax deduction of 50 % to new retail
residents from 10 percent to 25 %.
investors, who invest upto Rs. 50,000 directly in
equities and whose annual income is below Rs
10 lakh to be introduced. The scheme will have
a lock-in period of 3 years.
Indirect Taxes First housing loan up to Rs 25 lakh would get
additional deduction of interest of up to Rs 1
No change in basic customs duty rate of ten per cent lakh in 2013-14.
and service tax rate of 12 %. Tax free bonds issue to be allowed up to Rs
No change in peak rate of customs duty for non- 50,000 crores in 2013-14 strictly on capacity to
agriculture products. raise funds from the market.
Import duty raised from 75 to 100 % on luxury Contributions made to central and state
vehicles. government health scheme eligible to tax
Import duty raised on set-top boxes from 5 to 10 %. benefit.
Duty free limit on gold raised to Rs 50,000 in case of Eligibility conditions for life insurance policies of
male and Rs 100,000 in case of female. persons suffering disabilities to be liberalized
Specific excise duty on cigarettes and cigars raised TDS of one per cent on value of properties
by 18 per cent. above Rs 50 lakh. Agriculture land exempted.
Excise duty on SUVs to be increased to 30 per cent
from 27 per cent, SUVs registered as taxis
exempted Capital Markets Reforms:
Duty on mobiles above Rs 2,000 raised from 1 to
6%, based on their maximum retail prices. Investor with stake of 10 % or less will be
Service tax to be levied on all a/c restaurants treated as FII; any stake more than 10 % will be
One time voluntary compliance scheme for service treated as FDI.
tax defaulters to be introduced. Interest and FIIs will be allowed to participate in exchange
penalties to be waived. traded currency derivatives
Out of nearly 17 lakh registered assesses under FIIs will also be permitted to use their
Service Tax only 7 lakhs file returns regularly. A investment in corporate bonds and Government
onetime scheme called ‘Voluntary Compliance securities as collateral to meet their margin
Encouragement Scheme proposed to be introduced. requirements.
Defaulter may avail of the scheme on condition that SEBI to prescribed requirement for angel
he files truthful declaration of Service Tax dues investor pools by which they can be recognized
since 1st October 2007. as Category I AIF venture capital funds.
Modified GAAR norms to be introduced from
Direct Taxes Code (DTC) bill to be introduced in April 1, 2016.
current Parliament session. Small and medium enterprises, to be permitted
to list on the SME exchange without being
A sum of 9,000 crores towards the first installment of required to make an initial public offer (IPO).
the balance of CST compensation provided in the Stock exchanges to be allowed to introduce a
budget. dedicated debt segment on the exchange.
Work on draft GST Constitutional amendment bill Commodities transaction tax levied on non-
and GST law expected to be taken forward. agriculture commodities futures contracts at 0.01
per cent
3. Industry & Sectors: However the market was disappointed that the Budget
didn’t throw out specific steps to spur growth into the
Need of new and innovative instruments to economy. The increase in surcharge may impact the
mobilize funds for investment in infrastructure Sensex earnings by 1-1.5%.
sector. Measures such as:
o Infrastructure Debt Funds (IDF) to be We feel going forward investors will now focus on
encouraged, earnings growth and global news flow.
o Infrastructure tax-free bond of 50,000
crores in 2013-14. Government bonds fell to their lowest in more than two
o Raising corpus of Rural Infrastructure
Development Fund (RIDF) to 20,000 weeks after the finance ministry announced a gross
crores market borrowing target that was well above
o 5,000 crores to NABARD to finance expectations. The government is planning to borrow 6.29
construction for warehousing. trillion rupees in the fiscal year starting April, higher than
o 3000 kms of road projects in Gujarat, the 5.6-5.7 trillion rupees for the current fiscal year.
Madhya Pradesh, Maharashtra,
Rajasthan and Uttar Pradesh will be
Overall, the government has budgeted a fall in the
awarded in the first six months of 2013-
subsidy burden from 2.6% of GDP in FY13 to 2% of
14.
GDP in FY14. The government expects gross market
o Two new major ports to be set up in
borrowing of INR 6.3 trillion and net borrowing of INR 4.8
West Bengal and Andhra Pradesh
trillion with around INR 0.5 trillion crores of bond
Oil and gas exploration policy will be reviewed
buybacks.
and moved from profit sharing to revenue
sharing.
Policy on exploration of shale gas on the anvil;
natural gas pricing policy will be reviewed and
uncertainty removed. Disclaimer
Guidelines regarding financial restructuring of
DISCOMS have been announced. Certain information contained in this document is
Govt to set up India's first women's bank as a compiled from third party sources. Whilst Mirae Asset
public sector bank by October. Global Investments (India) Private Limited has to the
Compliance of public sector banks with Basel III best of its endeavour ensured that such information is
regulations to be ensured. 14,000 crores accurate, complete and up-to-date, and has taken care
provided in BE 2013-14 for infusing capital. in accurately reproducing the information, it shall have
PSU banks to have ATMs at all their branches no responsibility or liability whatsoever for the accuracy
by March 31, 2014. of such information or any use or reliance thereof. This
Insurance companies will be empowered to document shall not be deemed to constitute any offer to
open branches in Tier-II cities with approval of sell the schemes of Mirae Asset Mutual Fund. Mirae
IRDA. Asset Global Investments (India) Pvt. Ltd/ Mirae Asset
Trustee Co. Pvt. Ltd./ Mirae Asset Mutual Fund/ its
Fund House View: Directors or employees accepts no liability for any loss
or damage of any kind resulting out of the unauthorized
use of this document.
We believe the Budget is a Balanced and Prudent
Budget which is taking the economy on path of
Fiscal Consolidation. Mutual funds are subject to market risks,
read all scheme related documents
Facing the ire of rating agencies and investors alike, the carefully.
finance minister delivered his promise of fiscal
consolidation, projecting a fiscal deficit at 4.8% of GDP
for FY14, in line with consensus expectations. The
revised estimate of the FY13 fiscal deficit is 5.2% of
GDP, better than the revised budget target of 5.3% of
GDP.