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TMI BlogMeasures Proposed for Skill Development and Augmenting Funds for SMEs Turnover Limit for Compulsory Tax Audit Raised to Rs. One Crore.X X X X Extracts X X X X X X X X Extracts X X X X ..... Measures Proposed for Skill Development and Augmenting Funds for SMEs Turnover Limit for Compulsory Tax Audit Raised to Rs. One Crore. - News and Press Release Dated:- 16-3-2012 - News - Press Information Bureau Government of India Ministry of Finance 16-March-2012 13:46 IST Measures Proposed for Skill Development and Augmenting Funds for SMEs Turnover Limit for Compulsory T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ax Audit Raised to Rs. One Crore In order to augment funds for SMEs (Small and Medium Enterprises), theUnion Finance Minister Shri Pranab Mukherjee, in the General Budget 2012-13presented in LokSabha here today, has proposed to exempt capital gains tax on sale of a residential property, if the sale consideration is used for subscription in equity of a manufacturing SME company for p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... urchase of new plant and machinery. Further, considering the shortage of skilled manpower in the manufacture sector and in order to generate employment, the Finance Minister, Shri Mukherjee has proposed to provide weighted deduction at the rate of 150 per cent of expenditure incurred on skill development in manufacturing sector in accordance with specified guidelines. P ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... roviding relief to a large number of SMEs, it has been proposed to raise the turnover limit for compulsory tax audit of accounts as well as for presumptive taxation from Rs. 60 lakh to Rs. One crore. *** DSM/AG/DB/46 - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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