Free Press Journal
  • Budget 2014 Highlights: FISCAL, CAD SITUATION

    * Aim 3.0% fiscal gap in FY17
    * Aim 3.6% fiscal gap in FY16
    * Accepted FY15 4.1% fiscal deficit target as a challenge
    * Aim of 4.1% of GDP fisc gap indeed daunting
    * Reduction in fiscal deficit achieved by spending cuts
    * Need fisc prudence that will lead to fisc consolidation
    * To continue to remain watchful on CAD front

  • Budget 2014: TAX REFORMS – Highlights

    * Tax regime to be investor friendly
    * Must improve tax-GDP ratio
    * Plan to enlarge scope of income tax settlement commission
    * To provide certainty in tax laws
    * Propose changes in transfer pricing rules
    * Propose to strengthen authority for advance ruling in tax
    * High level panel to interact with industry on indirect tax
    * Clarification on tax issues to be given
    * Plan law, administrative changes to reduce tax disputes
    * Resident tax payer to get facility of advance

  • Budget 2014: INDIRECT TAX – Highlights

    * Scraps customs duty on sub-19 inch LCD, LED panels
    * Imposed educational cess on imported electronic pdts
    * Basic customs duty on crude, naphthalene cut to 5% vs 10%
    * Customs duty of 10% on telecom products outside tax Act
    * Colour picture tubes exempt from basic customs duty
    * Cut customs duty on steel grade limestone, dolomite to 2.5%
    * Customs duty on coal tar pitch cut to 5% from 10%
    * Scraps additional duty on imported

  • Budget 2014: DIRECT TAX – Highlights

    * No hike in direct tax rates
    * Retain tax targets for FY15
    * Retain interim gross tax collection aim
    * Propose relief to individual tax payers
    * Ups 80 C invest cap to 150,000 rupees vs 100,000 rupees
    * Up tax exemption limit for senior citizens to 300,000 rupee
    * No change in rate of surcharge for corporates, individuals
    * No change in surcharge rates for direct tax
    * To up personal income tax exemption limit to 250,000 rupee
    * Personal income

  • Budget 2014 – FY15 ESTIMATES – HIGHLIGHTS

    * FY15 capital receipts seen 739.5 bln rupees
    * FY15 revenue gap pegged 2.9%
    * FY15 non-tax revenue 2.12 trln rupees
    * FY15 gross tax receipt 13.64 trln rupees
    * FY15 total expenditure estimated 17.95 trln rupees
    * FY15 plan allocation 5.7 trln rupees, up 26.9% on yr
    * FY15 non-plan expenditure estimated 12.19 trln rupees
    .

  • Arun Jaitley

    IT rates unchanged; sops to small, marginal assessees in Bud

    New Delhi: The Budget for 2014-15 today left income tax rates unchanged but provided sops to small and marginal assessees by raising the threshold exemption limit from Rs 2 lakh to Rs 2.5 lakh and investments under 80C by Rs 50,000 to Rs 1.5 lakh while promising not to bring tax changes with retrospective effect.

  • Tax exemption limit raised to Rs 2.5 lakh

    New Delhi: Salaried class has got something to cheer with Finance Minister Arun Jaitley today raising tax exemption limit to Rs 2.5 lakh from Rs 2 lakh, providing a relief of Rs 5,000.

  • Highlights of full Budget for 2014-15

    NEW DELHI/MUMBAI: Highlights of the full Budget for 2014-15 (Apr-Mar), presented by Finance Minister Arun Jaitley in the Lok Sabha today:
    .
    FY15 ESTIMATES
    * FY15 capital receipts seen 739.5 bln rupees
    * FY15 revenue gap pegged 2.9%
    * FY15 non-tax revenue 2.12 trln rupees
    * FY15 gross tax receipt 13.64 trln rupees
    * FY15 total expenditure estimated 17.95 trln rupees
    * FY15 plan allocation 5.7 trln rupees, up 26.9% on yr
    * FY15 non-plan expenditure estimated 12.19 trln rupees
    .
    DIRECT TAX
    *

  • Project for ghat development

    New Delhi:  Finance Minister Arun Jaitley said Thursday that a project for ghat development and beautification of river front would be initiated.

  • Arun Jaitley

    Rs.8,000 crore for National Housing Banking programme

    New Delhi:  With a view to expand and continue rural housing in India, the government has allotted Rs.8,000 crore for National Housing Banking programme, Finance Minister Arun Jaitley said Thursday.

  • Ganga development gets Rs.2,037 crore

    New Delhi: Finance Minister Arun Jaitley Thursday announced an integrated Ganga development project with a budget of Rs.2,037 crore.

  • Govt announces to launch new TV channel for farmers

    New Delhi: The government today announced a new 24-hour TV channel dedicated to agriculture sector with an outlay of Rs 100 crore for providing real-time information to farmers.

  • Arun Jaitley

    `Unused money in postal schemes will be utilized’

    New Delhi:  Huge amounts of “money lying unused in postal schemes” will be utilized especially for the welfare of senior citizens, Finance Minister Arun Jaitley said Thursday.

  • Arun Jaitley

    E-visas facility at nine airports soon

    New Delhi:  E-visa facilities will be introduced at nine airports in the next six months to attract more tourists.