Skip to main content

Budget 2018 highlights: Arun Jaitley’s speech focuses on health, agriculture, infra

Budget 2018 highlights: Arun Jaitley’s speech focuses on health, agriculture, infra


100 Key Highlights of Union Budget 2018 – 19

  1. No changes in tax structure for salaried class and in slab rates
  2. 44 lakhs crores paid by salaried taxpayers.  A standard deduction of Rs 40,000 for salaried taxpayers, in lieu of transport and medical reimbursements for salaried classes.
  3. The government will have a scheme to provide a unique ID to every enterprise in India.
  4. 100% tax rebate for farmer producer companies having a turnover of ₹ 100 crores:
  5. Proposes 25% corporate tax rate for companies with turnover up to ₹. 250 crores
  6. Deduction on Health Insurance for senior citizens under 80D increased to Rs 50,000 from Rs 30,000.
  7. Exemption on interest income from 10000 to 15000, no TDS from this for senior citizens.
  8. Deduction u/s 80DDB to be increased to ₹ 1,00,000 for all senior citizen.
  9. Exemption of interest income annually earned from deposit in banks and post offices to increase from Rs 10,000 to Rs 50,000
  10. short-term capital gains continue to be taxable at 15%
  11. Introduces Long-Term Capital Gains Tax. LTCG are now taxed at 10% If capital exceeding 1 lakh. There is a strong case to bring long-term capital gains under the tax net, says the finance minister. Gains over Rs 1 lakh will be taxed at 10%.
  12. Long-term capital gains exceeding 10 lakh to be taxed at 10% without benefit of indexation
  13. Propose to introduce tax on distributed income by equity-oriented mutual funds at 10%:
  14. Customs duty on mobile phones increased from 15% to 20%.
  15. 3% Education cesses to be replaced by a 4% Health Cess
  16. Govt does not recognize cryptocurrencies as legal tender. Government to consider the use of blockchain to move towards a digital Rs 3073 crore allocated for Digital India
  17. Projecting the Fiscal Deficit at 3.3% of the GDP. Revised fiscal deficit estimate for 2017-18 is 3.5% of GDP, fiscal deficit of 3.3% expected for 2018-19
  18. Increase in a number of taxpayers from 6.47 lakh crore in 2014-15 to 8.27 lakh crore. Growth in personal collections and increase in no. of tax returns due to strong anti-tax evasion measures
  19. Tax compliance behavior of presumptive income taxpayers not encouraging. 41% more returns were filed under presumptive income scheme
  20. 90,000 Cr Extra Collected As Personal Income Tax in Last 1 Year. Will Continue With Tax Policies That Reward Honest Tax Payers

Learn complete Budget 2018 highlights here..... 
For more inquiries about courses offered, regular articles on various topics, video lectures, online test series for Bank Clerk, register with Takshila Learning.

For a Free Demo call @ +91-88009-99280

Comments

Post a Comment

Thank you we will contact ASAP.

Popular posts from this blog

Lessons-Worksheets-Question Papers-CBSE Class 2 English

Lessons-Worksheets-Question Papers-CBSE Class 2 English CBSE 2nd Class English – One and Many  In this blog, we share the spelling rules used in the concept of  One  and Many. When there is only one of a naming word (noun), it is said to be a  singular noun . When a noun shows more than one, it is said to be in the  plural . We can add  –S, -es, -ves or ies  to show that there is more than one noun.  For example,  we say many birds, four biscuits, six brushes. But for the students of  Class 2 , it’s very difficult and confusing to understand where to use  s , es, ves or ies  in the form of many. Don’t worry, it looks difficult, but it is very easy as in grammar each concept has a set of rules that need to practice. Noun ending with  –s, -x, -o, -sh, -ch, and –ss  form plurals by taking  –es. Look at these pairs of words: Bus – Buses Brush – Brushes Continue ..... Click here ...
Post a Comment
Read more

Class 3 English Practice Grammar Worksheet -The Adverb

 Class 3 English Practice Grammar Worksheet -The Adverb Class 3 English – The Adverb – Kinds of Adverb Fill in the blanks with suitable Adverbs of place. Choose from the box.  Up               outside                       everywhere                 back                down      away          here                           there                     ...
Post a Comment
Read more

Bhakti Movement NCERT Class 12 History

Bhakti Movement NCERT Class 12 History The Bhakti movement was an effort to achieve salvation and emancipation by devotion to God. In Hindi, the word bhakti refers to fervent devotion to God. This movement, which stressed a single-minded, ardent devotion to God, is seen as the most characteristic act of religious progress during the Middle Ages. In the 12th and 13th centuries, Kabir Das was a key figure in the Bhakti Movement. As a result of the movement, Kabir Das' poems and religious writings attained widespread fame. Kabir Das was raised up by a Muslim family. However, his religious beliefs were influenced by his Hindu teacher Ramananda, who regarded Rama as the highest God. The first Sikh guru and the founder of Sikhism was Guru Nanak. He vehemently opposed prejudice based on customs, rivalry, and caste in religion. Nanak was raised in a Hindu household and from an early age began to exhibit spiritual tendencies. He helped the indigent and underprivileged. His followers began r...
Post a Comment
Read more