Union Budget: Income tax for small firms slashed to 25%
Finance Minister Arun Jaitley on Wednesday reduced the income tax for small companies with annual turnover of up to Rs 50 crore to 25 percent with a view to making MSME companies more viable and encouraging firms to migrate to company format.
Feb 01, 2017, 16:02 PM IST
Union Budget 2017: Tax rate halved to 5% for income of Rs 2.5-5 lakh; 10% surcharge on income between Rs 50 lakh-1 crore
The change in the personal income tax rate for individual assessees between Rs 2.5 lakh and Rs 5 lakh income would reduce the tax liability of all persons below Rs 5 lakh to either to zero (with rebate) or 50 percent of their existing liability.
Feb 01, 2017, 15:58 PM IST
Union Budget 2017-18: Has FM softened demonetisation blow by announcing tax sops?
Amidst heightened expectations and hopes Finance Minister Arun presented Union Budget 2017-18 by rewarding the common man with income tax sops.
Feb 01, 2017, 15:51 PM IST
Budget 2017: Tax relief on capital gains for property sale proposed
The government also plans to extend the basket of financial instruments in which the capital gains can be invested without payment of tax.
Feb 01, 2017, 15:24 PM IST
Fiscal deficit for 2017-18 pegged at 3.2% of GDP; to achieve 3% in 2018-19
Finance Minister Arun Jaitley today said that the total expenditure in Budget for 2017-18 has been placed at Rs. 21.47 lakh crores. With the abolition of Plan-Non Plan classification of expenditure, the focus is now on Revenue and Capital expenditure.
Feb 01, 2017, 15:16 PM IST
Aadhar based health smart cards for senior citizens, Allocation for SC, ST & Minorities enhanced
Finance Minister Arun Jaitley while presenting the General Budget 2017-18 in Parliament on Wednesday said that the Government is giving special importance to the implementation of the Schemes for the welfare of Scheduled Castes, Scheduled Tribes and Minorities.
Feb 01, 2017, 15:10 PM IST
Union Budget 2017: Cash donation to political parties capped at Rs 2,000; further funding through Electoral Bonds
Finance Minister Arun Jaitely has said that the political party can receive maximum donation up to Rs 2,000 in cash from one person. This is down from the earlier limit of Rs 20,000.
Feb 01, 2017, 15:09 PM IST
I have rewarded honesty of small taxpayers and more money in their hands: Arun Jaitley
The government's tax proposals in Budget 2017-18 have tried to incentivise the first time taxpayers and rewarded the honesty of those paying tax, said Finance Minister Arun Jaitley after his post-budget interaction with media.
Feb 01, 2017, 15:05 PM IST
Budget gives a major push to Digital Economy; proposes No Cash Transaction above Rs 3 lakh
In a bid to give a push to Digital Economy and weed-out corruption and black money, the Union Minister for Finance and Corporate Affairs Arun Jaitley in his Budget Speech on Wednesday said that the Government has decided that no transaction above Rs 3 lakh will be permitted in cash.
Feb 01, 2017, 14:59 PM IST
Union Budget 2017-18: Full Text
Here is the Full Text of the Union Budget 2017-18.
Feb 01, 2017, 14:51 PM IST
Budget 2017: Here's what's cheaper and what's dearer!
Finance Minister Arun Jaitley on Wednesday presented the Union Budget 2017 which the government hailed as 'path-breaking' while PM Modi termed it as 'uttam' Budget.
Feb 01, 2017, 14:46 PM IST
Demonetisation will lead to bigger, cleaner and real GDP: Arun Jaitley
The Union Minister of Finance and Corporate Affairs Arun Jaitley said that India has witnessed historic and impactful economic reforms and policy making in the last one year and there were two tectonic policy initiatives, namely, passage of the Constitution Amendment Bill for GST and the progress made for its implementation; and demonetisation of high denomination bank notes.
Feb 01, 2017, 14:23 PM IST
Budget 2017: Govt unveils string of measures towards Ease of Doing Business
Presumptive income scheme for audit of entities raised from Rs. 1 crore to Rs. 2 crore; Threshold for maintenance of books for individuals and HUF more than doubled.
Feb 01, 2017, 14:17 PM IST
Budget 2017 will accelerate development, tax reforms a 'bold move', says PM Modi
The Budget announced by Finance Minister Arun Jaitley has taken forward the work undertaken by the government in the last two and a half years and will further accelerate development and generate employment for youth, PM Narendra Modi said on Wednesday.
Feb 01, 2017, 13:55 PM IST
Union Budget 2017: From 'path-breaking', 'uttam' to 'vision less' – here are some quick reactions
While PM Narendra Modi hailed the Union Budget as 'pro-poor and historic', Congress vice-president Rahul Gandhi called it 'vision less' and a 'damp squib'. Here are some quick reactions.
Feb 01, 2017, 13:53 PM IST
Sensex high-fives Arun Jaitley's Budget, soars 400 points to regain 28,000-mark
The rise in the market were helped mainly by shares of PSU banks that rose by as much as 4 percent as the government announced infusion of Rs 10,000 crore in public sector banks in the next fiscal.
Feb 01, 2017, 13:43 PM IST
No tax on individual income up to Rs 3 lakh, 2.5 lakh to 5 lakh slab to be charged at 5%
Finance Minister gave reprieve on income tax for those earning up to Rs 5 lakh.
Feb 01, 2017, 13:25 PM IST
Budget 2017: Sanitation cover in rural areas increased from 40% to 60%; hike in allocation for scientific ministry
Talking about hygiene, Jaitley also said sanitation cover in rural areas has gone up from 42 per cent to 60 per cent.
Feb 01, 2017, 13:21 PM IST
Union Budget 2017: As it happened
Finance Minister Arun Jaitley on Wednesday proposed to reduce existing rate of taxation of those with income between 2.5 lakh to 5 lakh from 10 percent to 5 percent while presenting the Union Budget 2017.
Feb 01, 2017, 12:56 PM IST
Union Budget 2017: Healthcare, medical facilities high on agenda this year; life saving drugs to get cheaper
Jaitley announced setting up of two new AIIMS in the states of Gujarat and Jharkhand, while also adding that 25000 post graduate seats will be created in medicine.
Feb 01, 2017, 12:01 PM IST
