Proposal to benefit 99% companies filing tax returns
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Live updates and discussion on Budget
All most all state governments are promising free power, free gas, and free housing to poor again Central Government promise the same. How duplication is going to be avoided. With this measure more poor families will grow. All sons sets up separate family units even though they live in one home.
No change in personal income tax structure: FM
Standard deduction for salaried taxpayers for transport and medical allowance up to Rs. 40000.
FM says, deduction for senior citizens increased to Rs 50,000 for medical insurance
Rs 19,000 cr revenue loss on direct tax: FM
Deduction for senior citizens with critical illness raised to Rs 1 lakh: FM
Incentives for senior citizens: Exemption of interest income on bank deposits raised to Rs. 50,000
Deduction limit for medicare up to Rs 80,000 senior citizens, for every senior citizens upto rs 1 lakh
Govt levies long-term capital gains tax of 10% for over Rs 1 lakh investments: FM: #UnionBudget2018
Proposal to exempt transfer of derivatives, certain securities by NRIs from capital gains tax
Propose to amend income tax act for electronic assessments: FM: #UnionBudget2018
Deduction for senior citizens with critical illness raised to Rs 1 lakh: FM
Current cess of 3% to be increased to 4% as Health and Education Cess.
Capital gains made on shares until Jan 31, 2018 grandfathered: FM
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