Showing posts with label budgetindia. Show all posts
Showing posts with label budgetindia. Show all posts

07 February 2018

Long Term Capital Gains Tax On Equity: 10 points


1. Long term capital gains mean gains arising from the transfer of long-term capital asset. The Finance Bill, 2018 proposes to provide for a new long-term capital gains tax regime for the following assets: Equity Shares in a company listed on a recognized stock exchange; Unit of an equity oriented fund; and Unit of a business trust. The proposed tax applies to the above assets, if the assets are held for a minimum period of twelve months from the date of acquisition; and the Securities Transaction Tax (STT) is paid at the time of transfer. However, in the case of equity shares acquired after 1.10.2004, STT is required to be paid even at the time of acquisition (subject to notified exemptions).

13 April 2017

Income Tax Slab Rates For FY 2017-18



Income Tax Slab Rates for FY 2017-18 (AY 2018-19) 
  
Part I: Income tax slab for individual tax payers & HUF below 60 years 
  
Income SlabTax Rate
Income up to ₹ 2,50,000No Tax
Income from ₹ 2,50,000 – ₹ 5,00,0005.00%
Income from ₹ 5,00,000 – 10,00,00020.00%
Income more than ₹ 10,00,00030.00%
Surcharge: 
10% of income tax, where total income is between ₹ 50 lakhs and ₹1 crore. 
15% of income tax, where total income exceeds ₹ 1 crore. 
Cess: 3% on total of income tax + surcharge. 
  
Part II: Income tax slab for individual tax payers & HUF 60 yrs to 80 yrs 
  
Income SlabTax Rate
Income up to ₹ 3,00,000No Tax
Income from ₹ 3,00,000 – ₹ 5,00,0005.00%
Income from ₹ 5,00,000 – 10,00,00020.00%
Income more than ₹ 10,00,00030.00%
Surcharge: 
10% of income tax, where total income is between ₹ 50 lakhs and ₹1 crore. 
15% of income tax, where total income exceeds ₹1 crore. 
Cess: 3% on total of income tax + surcharge. 
  
Part III: Income tax slab for super senior citizens (80 years +) 
  
Income SlabTax Rate
Income up to ₹ 2,50,000No Tax
Income up to ₹ 5,00,000No Tax
Income from ₹ 5,00,000 – 10,00,00020.00%
Income more than ₹ 10,00,00030.00%
Surcharge: 
10% of income tax, where total income is between ₹ 50 lakhs and ₹1 crore. 
15% of income tax, where total income exceeds ₹1 crore. 
Cess: 3% on total of income tax + surcharge. 
*Income up to ₹ 5,00,000 is exempt from tax if you are more than 80 years old. 

For More Information on tax slab and detail kindly Visit https://incometaxindiaefiling.gov.in/

01 February 2017

Highlights of Union Buget 2017 - 2018



GST - No changes in service tax & excise duty as GST draft will be launching soon

Fiscal Deficit - Seen at 3.2% (17-18) & 3% (18-19)

Current Account Deficit - 0.3% (16-17) 1st Half

FDI Investments - 1.45 Lakh Crores (16-17) 1st Half

Direct Tax - Tax to GDP Ratio is very low
Income upto 2.5 Lakhs - Nil Tax
Income above 2.51 Lakhs to 5 Lakhs  - Reduces to 5% Tax from 10%
Income above 50 Lakhs to 1 Crore - 10% surcharge

Farmer - Double their income in 5 years

Agriculture - 10 Lac Crores credit

MNREGA - Allocation 48,000 Crores

PM Gram Sadak Yojna - Allocation 19,000 Crores

Sr. Citizen - 8% guaranteed pension for 10yrs by LIC of India scheme

Rail Budget - 1.31 Lakh Crores, New Railway Line of 3500 kms, No service charge on IRCTC Ticket booking

Highway - 67,000 Crores for National Highways

Disinvestment - Continue through ETF's and timely disinvestments of PSU's,
Target 72500 Crores

Banking - 10,000 Crores to PSU banks for Recapitalisation, Double landing targets to Bank 2.44 Lac Crores, 2.44 Lac Crores under mudra scheme

Total Expenditure - Estimated at 21.47 Lac Crores

Defence Expenditure - 2.74 Lakh Crores excluding Pension

Long Term Capital Gain - For immovable property reduced to 2yrs from 3yrs

Income Tax - Companies turnover less than 50 Crores will pay 5%  less tax, Effective rate 25%

Cash Transaction - No transaction over 3 lakes will be permitted in cash

Infra - Insurance company has to invest 25% in Infra bonds
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