Major Takeaways - Budget 2018

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Major Takeaways - Budget 2018
By: - CSSwati Rawat
Income Tax
Dated:- 1-2-2018

Direct Tax - Farmer producer companies will get 100% exemption for 5 years - New employees cost deductio .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... n rationalized for 1st year of employment - Companies with turnover upto 250 Crore will have 25% tax rate - ₹ 40000 standard deduction allowed to salaried employees - Interest on FDs limit ra .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ised to ₹ 50000 for senior citizen - Senior Citizen Medical Insurance limit raised to ₹ 50000 - Critical illness expenditure limit also increased to ₹ 1 lakh for senior citizen - .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Long Term Capital Gain above ₹ 1 lakh in a year on listed equity shares will be taxed at 10%. Such gains upto 31.01.18 exempted - Tax on Growth oriented Mutual Fund distributing Dividend - Tot .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... al Cess on Income Tax is now 4% - Electronic Assessment introduced Indirect Tax (Non-GST) - Custom duty on mobile phones and accessories increased - Educational Cess on some goods reduced - Certa .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... in changes in procedural part of Customs
Scholarly articles for knowledge sharing by authors, experts, professionals .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X