Union Minister of Railways Mr. Piyush Goyal today said that Budget 2018-19 proposals were aimed at removing the structural impediments to attain long term growth, a budget that rises above populism and puts a premium on honest investment towards building a 'New India'.
Delivering a' P..
21 FAQs on taxation of long-term capital gains proposed in Finance Bill, 2018
Under the existing taxation regime, long-term capital gains arising from transfer of long-term capital assets, being equity shares of a company or a unit of equity oriented fund or a unit of business trust, is exempt fr..
UNION BUDGET 2018 HIGHLIGHTS - DIRECT TAXES
No change in tax rates and basic exemption limit
Tax rates continue to be same for A.Y. 2019-20 as applicable for A.Y. 2018-19. Further, there is no change in the basic exemption limits.
Health and Education Cess
In one of the Budget documents of the Union Budget 2018-19‚Äč,‚Äč
“Budget at a glance” under the title ‘Expenditure on Government of India’, an expenditure of Rs.77,747 crore and Rs.10,5541 crore has been shown against the item “Tax administration” under the Revise..
The provisions of Finance Bill, 2018 relating to
direct taxes seek to amend the Income-tax Act, 1961 (hereafter referred to as
'the Act') to continue to provide momentum to the buoyancy in direct taxes
through deepening and widening of the tax base, reducing the corporate tax rate
A. RATES OF INCOME-TAX
I. Rates of income-tax in respect of income liable to tax for the assessment year 2018-19.
In respect of income of all categories of assessees liable to tax for the assessment year 2018-19, the rates of income-tax have been specified in Part I of the Firs..
Governance, Economy and Development
1. I rise to present the Budget for 2018-19.
2. Madam, four years ago, we pledged to the people of India to give this nation an honest, clean and transparent Government. We promised a leadership capable of taking difficult decision..
Stricter controls over small cash flow by companies;
Payments exceeding Rs. 10,000/- in cash made by such entities shall be disallowed
In order to control the cash economy and increase TDS compliance, the Union Finance and Corporate Affairs Minister Shri Arun Jaitley proposed to impo..
99% MSMEs to gain by Tax Incentives provided in General Budget 2018-19
The Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley has proposed a reduced rate of 25% to companies that have reported turnover up to Rs 250 crores in financial year 2016-17. This will benefit the entire cl..
Relief to salaried taxpayers: standard deduction of Rs 40,000 allowed in lieu of present exemptions
2.5 Crores salaried employees and pensioners to benefit
Differently-Abled will continue to get transport allowance at enhanced rate
In order to provide relief to salaried taxpayer, ..