Government will reform stamp duty regime on financial securities transactions The Finance Minister Shri Arun Jaitley has said that his Ministry will leverage the India Infrastructure Finance Corporation Limited (IIFCL) to help finance major infrastructure projects, including investments in educational and health infrastructure, on strategic and larger societal benefit considerations. Shri Jaitley said this while presenting the General Budget 2018-19 in Parliament here today. The Finance Minister Shri Arun Jaitley further said that the Government and market regulators have taken necessary measures for development of monetizing vehicles like Infrastructure Investment Trust (InvIT) and Real Investment Trust (ReITs) in India. The…
Author: Amit Bhanot
Amendments in the income-tax act proposed to notify a new scheme for assessment in electronic mode. E-assessment to be rolled-out across the country to transform age-old assessment procedure In the General Budget 2018-19 presented in Parliament today, the Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley proposed to amend the Income-tax Act to notify a new scheme for assessment. Shri Jaitley said the assessment will be done in electronic mode which will almost eliminate person to person contact leading to greater efficiency and transparency. The Finance Minister added that the e-assessment system was introduced in 2016 on a…
To Incentivise Domestic Value Addition And Make In India, Customs Duty Increased On Mobile Phones And Tv Parts Measure Will Help Promote Creation Of More Jobs Customs Duty On Raw Cashew Halved In the first General Budget 2018-19 after the roll-out of the Goods and Services Tax (GST), the Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley, made a calibrated departure from the underlying policy in the last two decades, wherein the trend largely was to reduce the customs duty. In the General Budget 2018-19 presented in Parliament here today, Shri Jaitley acknowledged there is substantial potential for…
दो रक्षा औद्योगिक गलियारे विकसित किए जाएंगे सरकार औद्योगिक अनुकूल रक्षा उत्पादन नीति 2018 लाएगी रक्षा क्षेत्र के लिए पर्याप्त बजट सुनिश्चित करना सरकार की प्राथमिकता रहेगी। केंद्रीय वित्त और कॉर्पोरेट मामलों के मंत्री श्री अरुण जेटली ने आज संसद में आम बजट 2018-19 पेश करते हुए कहा कि पिछले साढ़े तीन वर्षों में रक्षा बलों के आधुनिकीकरण और कार्य क्षमताओं में वृद्धि पर सरकार का जोर रहा है। वित्त मंत्री ने देश की सीमाओं पर मिलने वाली चुनौतियों से निपटने और जम्मू कश्मीर तथा पूर्वोत्तर भारत में आंतरिक सुरक्षा को बनाए रखने में सैन्य बलों की भूमिका कि प्रशंसा…
Changes Proposed To The Customs Act To Improve Ease Of Doing Business By Smoothening Dispute Resolution Process And Reducing Litigation With the aim of further improving Ease of Doing Business in cross border trade, and to align certain provisions with the commitments under the Trade Facilitation Agreement, the Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley announced certain changes to the Customs Act, 1962 while presenting the General Budget 2018-19 in Parliament today. Shri Jaitley added that to smoothen dispute resolution processes and to reduce litigation, these amendments are being made to provide for pre-notice consultation, definite timelines…
वस्तु एवं सेवा कर (जीएसटी) को लागू किए जाने के साथ ही केंद्रीय वित्त एवं कॉरपोरेट मामलों के मंत्री श्री अरुण जेटली ने आज संसद में आम बजट 2018-19 पेश करते हुए घोषणा की कि केंद्रीय उत्पाद एवं सीमा शुल्क बोर्ड (सीबीईसी) का नाम बदल कर केंद्रीय अप्रत्यक्ष कर एवं सीमा शुल्क बोर्ड (सीबीआईसी) रखा जाएगा। श्री जेटली ने कहा कि इसके लिए कानून में आवश्यक बदलाव वित्त विधेयक में प्रस्तावित किए गए हैं।
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 impose restriction on entities incurring expenditure in cash without paying tax. Presenting the General Budget 2018-19 in Parliament here today, the Finance Minister said, “Currently, the income of trusts and institutions is exempt if they utilise their income towards their objects in accordance with the relevant provisions of the Income-tax Act. However, there is no restriction…
परिवहन क्षेत्रों को अब तक का सबसे अधिक आबंटन किया गया हवाई अड्डा क्षमता के विस्तार के लिए एनएबीएच निर्माण पहल की घोषणा 10 महत्वपूर्ण पर्यटन स्थलों को विकसित किया जाएगा डिजिटल इंडिया कार्यक्रम के लिए आबंटन को दोगुना किया गया, साइबर भौतिक प्रणालियों पर अभियान का शुभारंभ होगा दूरसंचार बुनियादी ढांचे के निर्माण और संवर्धन के लिए 10 हजार करोड़ रुपए ऑनलाइन निगरानी प्रणाली ‘प्रगति’ ने 9.46 लाख करोड़ रुपए मूल्य सरकार ने अर्थव्यवस्था में वृद्धि के प्रमुख संवाहक की भूमिका की पहचान करते हुए, आम बजट 2018-19 में बुनियादी ढांचे के आबंटन में महत्वपूर्ण वृद्धि की है। इस…
The Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley has proposed to extend the benefits under Section 80-JJAA of the Income-tax Act to footwear and leather industry. While presenting the General Budget 2018-19 in Parliament here today, the Union Finance Minister said, “Currently, a deduction of 30% is allowed in addition to normal deduction of 100% in respect of emoluments paid to eligible new employees who have been employed for a minimum period of 240 days during the year under section 80-JJAA of the Income-tax Act.” He however, noted that the minimum period of employment is relaxed to…
The Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley proposed that no adjustment shall be made in a case where the circle rate value does not exceed 5% of the consideration. While presenting the General Budget 2018-19 in Parliament here today, he said, “Currently, while taxing income from capital gains, business profits and other sources in respect of transactions in immovable property, the consideration or circle rate value, whichever is higher, is adopted and the difference is counted as income both in the hands of the purchaser and seller. Sometimes, this variation can occur in respect of different…