Sunday, June 23

Tag: Arun Jaitley

Budget 2018: Instead of Increasing Tax Exempted Income to 3 lacs, Govt. Implied Standard Deduction To Reward Honest Taxpayers
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Budget 2018: Instead of Increasing Tax Exempted Income to 3 lacs, Govt. Implied Standard Deduction To Reward Honest Taxpayers

Tax-free income for salaried class and pensioners has been raised to Rs 2.9 lakh by way of a Rs 40,000 standard deduction and not by hiking exemption limit as the government wanted the benefit to accrue to honest tax payers, Finance Secretary Hasmukh Adhia said today. The standard deduction, which replaces tax-free transport allowance of Rs 1,600 per month (Rs 19,200 a year) and medical expense reimbursement of Rs 15,000 per annum, will accrue automatically to salaried class and pensioners without the requirement of furnishing proof like medical bills that is in vogue now. The provision, which forms part of the Budget for 2018- 19, will apply from April 1 after Parliament approval. Finance Minister Arun Jaitley chose the standard deduction route rather than raising tax exemption l...
Budget 2018 : 10 Important Announcements For Middle-Class Families
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Budget 2018 : 10 Important Announcements For Middle-Class Families

The Finance Minister of India, Arun Jaitley, has announced the budget for 2018-19 today. Starting off with providing the details on how the previous year's budget turned out, he mentioned how India stands out as the fastest economy in the world and now is a 2.5 trillion-dollar economy. On the basis of purchasing power, India stands as the 3rd largest economy. In the budget, the finance minister provided details covering sector like- cryptocurrencies, agriculture and rural sector, fishery and husbandry sector, health, education, economic and social sector, tourism sector and many more. He introduced impressive proposals for the financial plan, that will be affecting Indian middle-class families in various ways, that we'll be talking below. With the budget aiming at strengthening agric...
Jaitley On Digital Currency, ‘Cryptocurrency Not A Legal Tender, Govt. will Discourage Its Use’
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Jaitley On Digital Currency, ‘Cryptocurrency Not A Legal Tender, Govt. will Discourage Its Use’

Government has considered regulation of cryptocurrency in budget 2018. In order to regulate cryptocurrencies like Bitcoin, Finance Minister of India, Arun Jaitley said that cryptocurrency is not a legal tender and Indian government will discourage its use. However, the government is open to the 'blockchain technology' on which these cryptocurrencies work. The government will also be planning a roadmap to put some regulation on  the cryptocurrency market. The digital currency world is currently not monitored by any regulating authority. Since the past year, cryptocurrency market has gained huge numbers of investors who are willing to put some considerable amount in the sector. Although even before the budget release, Arun Jaitley said that cryptocurrency is not a legal tender, but ...
Bank Recapitalisation ‘Historic’, Will Boost Business: Amit Shah
INDIA

Bank Recapitalisation ‘Historic’, Will Boost Business: Amit Shah

Hailing the Centres announcement of Rs 2.11 lakh crore for bank recapitalisation as "historic", BJP chief Amit Shah has said the move will not just give an impetus to businesses, but also provide employment to the youth. सरकारी बैंकों के लिए ₹2.11लाख करोड़ के कैपिटलाइजेशन प्लान को मंजूरी देने के ऐतिहासिक निर्णय पर @narendramodi जी व @arunjaitley जी का अभिनंदन pic.twitter.com/ddhHfURfJE — Amit Shah (@AmitShah) October 24, 2017 He also hailed the announcement on Rs 6.92 lakh crore spending on infrastructure. The BJP national chief congratulated Prime Minister Narendra Modi and Finance Minister Arun Jaitley for the bank recapitalisation decision, terming it as "historic". In a tweet last night, Shah said the "courageous" decision will not only give impetus to businesses but als...
Budget Extends Window For Startups to Avail Tax Benefits
INDIA

Budget Extends Window For Startups to Avail Tax Benefits

Finance Minister Arun Jaitley has proposed extending the window for startups to avail tax benefits to first seven years of existence, a move that will allow new ventures to extract full benefit of the permitted deductions. Earlier, startups were allowed to claim profit-linked deduction for three years out of the first five years of existence. "...the profit linked deduction available to the start-ups for three years out of five years is being changed to three years out of seven years," Jaitley said in his Budget Speech. Nasscom President R Chandrashekhar said, startups could not avail full benefits of the three-year clause as they typically tend to begin making profits only after a few years of operation. "By then, the window of benefit would end. Now even if the startup reports prof...
SBI in Association With BSNL Launched Digital Wallet ‘State Bank MobiCash’
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SBI in Association With BSNL Launched Digital Wallet ‘State Bank MobiCash’

The country’s largest lender State Bank of India   (SBI), in partnership with Bharat Sanchar Nigam Limited (BSNL), Saturday launched its mobile wallet application ‘State Bank MobiCash’ for feature as well as smartphones. The new wallet services will initially be available in Punjab, Rajasthan, Haryana and Bihar and expanded pan-India by the end of December. MobiCash will allow users to deposit cash through BSNL retail outlets and withdraw funds from their account. SBI already has an application named SBI Buddy for smartphone users. With the large network of BSNL and SBI, this wallet will reach the remotest areas of the country, in line with the government's digitisation mission, said Finance Minister Arun Jaitley who launched the wallet. быстрый займ без отказа на картузайм по см...
GST is Challenge For IT Industry Because of Multiple Taxes : Nasscom
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GST is Challenge For IT Industry Because of Multiple Taxes : Nasscom

The GST regime would streamline the taxation system and make it much more transparent, but would also create multiple taxation points, which will be a "challenge" for the IT industry, Nasscom said today. Nasscom President R Chandrasekhar said the concerns regarding multiple taxation points have been brought to the notice of the government and it expects a positive response while framing the GST law. "IT services are intangible. The way things are looked at in the GST law, not the Constitution amendment, there we have a number of concerns which have been shared with the government. "We feel that today for IT services, it is a simple regime. One single point of taxation which is central service tax, one single point of registration, one single invoice, one single place where you hav...