Others News

Full Exemption from Basic Customs Duty Given to Certain Infrastructure Sectors

16 March 2012 at 13:34

The Finance Minister ShriPranab Mukherjee has announced full exemption from basic customs duty and a concessional CVD of 1 per cent to Steam coal for a period of two years till March 31, 2014. While presenting the Union Budget 2012-13 in LokSabha

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Gross Tax Receipts Estimated at Rs.10,77,612 Crore-19.5% Increase Over 2011-12

16 March 2012 at 13:34

Gross Tax Receipts Estimated at Rs.10,77,612 Crore-19.5% Increase Over 2011-12 Re Indirect Tax Revenue Growth Estimated at 26.7% &Direct Tax Revenue Growth at 13.9% Over 2011-12. Total Expenditure Estimatedrs. 14,90,925 Crore

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Turnover Limit for Compulsory Tax Audit Raised to Rs. One Crore

16 March 2012 at 13:30

Measures Proposed for Skill Development and Augmenting Funds for SMEs Turnover Limit for Compulsory Tax Audit Raised to Rs. One Crore In order to augment funds for SMEs (Small and Medium Enterprises), theUnion Finance Minister Shri Pranab Mukh

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STT Proposed to be Reduced by 20 Per Cent

16 March 2012 at 13:27

STT Proposed to be Reduced by 20 Per Cent GAAR PANEL Mooted to Counter Aggressive Tax Avoidance Schemes Levy of Alternate Minimum Tax Proposed to be Extended In the General Budget 2012-13presented by theUnion Finance Minister ShriPranab Mukhe

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Sunset Date for Tax Exemption in Power Sector Extended

16 March 2012 at 13:26

To Promote Investment, Weighted Deduction for Expenditure in R&D and AGRI-Extension Services Proposed Sunset Date for Tax Exemption in Power Sector Extended In the General Budget 2012-13 presented by the Union Finance Minister ShriPranab Mu

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Unexplained Money to be Taxed at 30 Per Cent

16 March 2012 at 13:24

Slew of Measures Proposed to Deter Generation and Use of Unaccounted Money Tax Collection at Source on Cash Purchase of Bullion/Jewellery Above Rs. 2 Lakh Tax Collection at Source on Trading in Coal, Lignite and Iron Ore Unexplained Money to be

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Measures Introduced to Allow Corporates to Access Lower Cost Funds; Promote Higher Level of Investments in Several Sectors

16 March 2012 at 13:21

Rate of Withholding Tax on Interest Payments on ECBs Proposed to be Reduced to 5 Per Cent From 20 Per Cent Restriction on Venture Capital Funds to Invest in Specified Sectors Removed Rate of Investment Linked Deduction of Cap

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Exemption Limit for Individual Taxpayers Raised to Rs. 2 Lakh-Upper Limit of 20 Per Cent Tax Slab Raised to Rs. 10 Lakh

16 March 2012 at 13:18

Exemption Limit for Individual Taxpayers Raised to Rs. 2 Lakh Upper Limit of 20 Per Cent Tax Slab Raised to Rs. 10 Lakh Deduction up to Rs. 10,000 Proposed for Savings Bank Interest Senior Citizens not Having Income from Business Exempted from Pay

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Government Keen on Early Enactment of DTC Bill

16 March 2012 at 13:13

Model Legislation for GST on the Anvil National Information Utility to be Operational by August The Union Finance Minister ShriPranab Mukherjee today expressed firm commitment to enact the Direct Taxes Code (DTC) Bill at the earliest, after exp

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Summary - Union Budget 2012-13

16 March 2012 at 13:09

BUDGET IDENTIFIES FIVE OBJECTIVES RELATING TO GROWTH, INVESTMENT, SUPPLY BOTTLENECKS, GOVERNANCE, AND REMOVING MALNUTRITION AMENDMENT TO FRBM ACT INTRODUCED AS PART OF FINANCE BILL CENTRAL SUBSIDIES TO BE KEPT UNDER 2 PER CENT OF GDP; TO BE F

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