Union Budget 2022-2023: Tax deduction limit increased from 10 % to 14% on employer’s contribution to the NPS account of State Government employees - Brings them at par with central government employees - Parity in National Pension Scheme Ministry of Finance HIGHLIGHTS OF THE UNION BUDGET 2022-23 01 FEB 2022 The Union Budget seeks to complement macro-economic level … [Read more...] about UNION BUDGET 2022-2023 HIGHLIGHTS – PIB
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Union Budget
Defence – Budget 2018-19 – Allocate 12.10 percent of the total Central Government Expenditure
Defence - Budget 2018-19 - Allocate 12.10 percent of the total Central Government Expenditure Union Budget for the financial year 2018-19, presented by the Finance Minister Shri Arun Jaitley in the Parliament today, envisaged a total outlay of Rs. 24,42,213 crore. Out of this, Rs 2,95,511.41 crore has been earmarked for Defence. This accounts for 12.10 percent of the total … [Read more...] about Defence – Budget 2018-19 – Allocate 12.10 percent of the total Central Government Expenditure
HIGHLIGHTS OF BUDGET 2018-2019
HIGHLIGHTS OF BUDGET 2018-2019 PRESS INFORMATION BUREAU GOVERNMENT OF INDIA HIGHLIGHTS OF BUDGET 2018-19 New Delhi, 01th February, 2018 Finance Minister Shri Arun Jaitley presents general Budget 2018-19 in Parliament. Budget guided by mission to strengthen agriculture, rural development, health, education, employment, MSME and infrastructure sectors Government … [Read more...] about HIGHLIGHTS OF BUDGET 2018-2019
New Income Tax Rates And Deductions Applicable From April 1, 2017
New Income Tax Rates And Deductions Applicable From April 1, 2017 With some tinkering in the income tax rates for 2017-18, Finance Minister Arun Jaitley reduced the tax rate for income between Rs. 2.5 lakh and Rs. 5 lakh to 5 per cent in the Union Budget, while adding a surcharge of 10 per cent on tax for income between Rs. 50 lakh and Rs. 1 crore. Although the basic … [Read more...] about New Income Tax Rates And Deductions Applicable From April 1, 2017
GST: Service tax likely to be hiked to 18 percent this budget
GST: Service tax likely to be hiked to 18 percent this budget New Delhi: Most services are likely to attract a tax of 18 percent under the Goods and Services Tax (GST) as Union Finance Minister Arun Jaitley presents the Union Budget on February 1. It will be interesting to witness whether the Centre raises the service tax rate from the existing 15 percent by at least one … [Read more...] about GST: Service tax likely to be hiked to 18 percent this budget
Cabinet approves merging of Rail budget with Union Budget
Cabinet approves merging of Rail budget with Union Budget New Delhi: In a major overhaul, the Cabinet today approved advancing presentation of the annual Budget by a month, scrapped over nine decade old tradition of having a separate Railway Budget and removed classifications for expenditure to make the exercise simpler. With a view to get all the legislative approvals … [Read more...] about Cabinet approves merging of Rail budget with Union Budget
Income Tax Exemption Limit Raised by Rs.50,000 – Does it meet the Central Government employees’ expectations?
Income Tax Exemption Limit Raised by Rs.50,000 – Does it meet the Central Government employees’ expectations? Finance Minister Arun Jaitley announced that the Income Tax exemption limit for individual taxpayers, below the age of 60 years has been raised from Rs. 2 lakhs to Rs. 2.5 lakhs. The General Budget 2014-15 presented by the Union Finance Minister Shri Arun Jaitley … [Read more...] about Income Tax Exemption Limit Raised by Rs.50,000 – Does it meet the Central Government employees’ expectations?
Relief for Taxpayers in the Bracket of Rs.2 Lakh to 5 Lakh Tax Credit of Rs.2000 to Every Person with Total Income upto 5 Lakh
Relief for Taxpayers in the Bracket of Rs.2 Lakh to 5 Lakh Tax Credit of Rs.2000 to Every Person with Total Income upto 5 Lakh The Finance Bill 2013-14 proposes a relief of Rs.2000 to every person who has a total income upto Rs.5 lakh in a financial year. Presenting the Union Budget in the Lok Sabha today, the Finance Minister Shri P.Chidambaram said that 1.80 crore … [Read more...] about Relief for Taxpayers in the Bracket of Rs.2 Lakh to 5 Lakh Tax Credit of Rs.2000 to Every Person with Total Income upto 5 Lakh
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