Union Budget 2015 Highlights
| 12:39 PM Saturday | FM Arun Jaitley concludes Budget speech |
| 12:36 PM Saturday | Big News: FM proposes to reduce corporate tax rate to 25% from 30% for next 4 years |
| 12:34 PM Saturday | Tax relief for yoga instructions, institutions: FM |
| 12:34 PM Saturday | Yoga included within the definition of charitable purpose under Section 2(15) of Income tax Act, says FM |
| 12:33 PM Saturday | Pre-cooled services for fruits and vegetables to be exempt from service tax :FM |
| 12:32 PM Saturday | Govt to allocate funds for roads out of Excise Duty Collection from Petrol and Diesel |
| 12:31 PM Saturday | Transport allowance exemption doubled from Rs 800, to Rs 1600 |
| 12:31 PM Saturday | Interest iincome under Sukanya Samridhi Scheme will be exempt from tax, says FM |
| 12:30 PM Saturday | Additional deduction of Rs. 50,000 under Section 80CCD for contribution to New Pension Scheme |
| 12:29 PM Saturday | Additional deduction for differently abled person of 25,000 under Sections 80DD and Section 80U, says FM |
| 12:28 PM Saturday | Swachh Bharat Abhiyan: 100% deduction allowed for all contributions except CSR |
| 12:28 PM Saturday | 100% contributions to Swacch Bharat, Clean Ganga get tax ease: FM |
| 12:28 PM Saturday | FM increases rate of Service tax from 12.36% to 14% (all inclusive) |
| 12:28 PM Saturday | Services of Common Effluent Treatmennt Plant shall be out of the purview of Service Tax |
| 12:28 PM Saturday | Rs. 30,000 deduction for expenditure on health treatment for super senior citizens: FM |
| 12:27 PM Saturday | Deduction for Senior Citizen increased from Rs. 10,000 to Rs. 30,000 |
| 12:27 PM Saturday | Deduction for health insurance premium increased from Rs. 15,000 to Rs. 25,000: FM |
| 12:26 PM Saturday | FM increases rate of Service tax from 12.36% to 14% (all inclusive) |
| 12:26 PM Saturday | Wealth Tax abolished and replaced with 2% additional tax on super-rich with income of above Rs. 1 crore |
| 12:25 PM Saturday | EC and SHEC to be subsumed in Excise Duty; Excise Duty rounded off to 12.5% |
| 12:25 PM Saturday | Excise duty on leather footwear having retail price of more than 1000 is reduced to 6% |
| 12:24 PM Saturday | Excise duty raised to 12.5% |
| 12:23 PM Saturday | Threshold limit for Specified Domestic Transaction increased from Rs. 5 crores to Rs. 20 Crores |
| 12:21 PM Saturday | FM proposes to reduce Basic Custom Duty on certain input raw material to minimize duty inversion |
| 12:21 PM Saturday | PM proposes to reduce customs duty on 22 items |
| 12:21 PM Saturday | Reduction in SAD on certain input raw material subject to actual user condition |
| 12:20 PM Saturday | Wealth Tax abolished and replaced with 2% additional tax on super-rich with income of above Rs. 1 crore |
| 12:20 PM Saturday | GAAR would apply prospectively on or after 1-4-2017 |
| 12:19 PM Saturday | Rental income for REITs shall have a pass through regime, says FM |
| 12:19 PM Saturday | GAAR again defered for 2 years |
| 12:18 PM Saturday | 10% tax rates on royalty and FTS: FM |
| 12:17 PM Saturday | Mere presence of Fund Manager of Offshore Funds shall not constitute of Permanent Establishment, FM says |
| 12:16 PM Saturday | Quoting of PAN is mandatory for purchasing an immovable property in excess of Rs one lakh, says FM |
| 12:16 PM Saturday | Provision to prohibit acceptance of amount of more than Rs 20,000 for purchase of immovable property: FM |
| 12:15 PM Saturday | A new Benami transaction bill to be introduced :FM |
| 12:14 PM Saturday | Undisclosed Income to be taxed at maximum marginal rate, deductions and exemptions from such income wont be allowed: FM |
| 12:13 PM Saturday | Non-filing of return will be liable for prosecution of upto 7 years, says FM |
| 12:13 PM Saturday | Offenders can’t approach Settlement Commission under the new law, when introduced: FM |
| 12:12 PM Saturday | Govt decides to enact a comprehensive new law on black MONEY |
| 12:12 PM Saturday | A new bill shall be introduced in forthcoming bill to curb black MONEY: FM |
| 12:11 PM Saturday | Cracking down black MONEY is our abiding commitment, says FM |
| 12:10 PM Saturday | Reduction in corporate tax rate to be accompanied by rationalization of exemptions and incentives |
| 12:07 PM Saturday | Corporate Tax Rates shall be reduced to 25% for next four years to make it more compatible with the world tax rates, FM says |
| 12:06 PM Saturday | GST is expected to be implemented from next year: Arun Jaitley |
| 12:06 PM Saturday | Various measures have been taken in last 9 months to curb black MONEY: FM |
| 12:05 PM Saturday | FM starts the tax proposlas |
| 12:04 PM Saturday | FM allocated Rs 2.46 lakh crore for defence in FY16 |
| 12:03 PM Saturday | We are pursuing make in India policy to achieve greater self-sufficiency in defence: FM |
| 12:03 PM Saturday | We are pursuing make in India policy to achieve greater self-sufficiency in defence: FM |
| 12:01 PM Saturday | FM: Indian Institute of Mines in Dhanbad to be upgraded to IIT status; Karnataka to get IIT |
| 11:58 AM Saturday | New branches of AIIMS shall be set up in J&K, Himachal, Assam, Tamil Nadu and Punjab |
| 11:57 AM Saturday | FM proposes setting-up of fully IT based aid authority to monitor scholarship schemes |
| 11:56 AM Saturday | Special Fund established to ensure higher studies for students: FM |
| 11:54 AM Saturday | FM Arun Jaitley proposes ‘Regulatory Reform’ Law |
| 11:54 AM Saturday | Govt. needs to have a procurement law to prevent scam, scandal and corruption, says FM |
| 11:53 AM Saturday | Scheme for faster adoption and manufacturing of electric vehicles having outlay of Rs. 7,500 crores is proposed |
| 11:52 AM Saturday | FM plans to remove distinction between foreign portfolio investors and FDI |
| 11:52 AM Saturday | Accordingly this year ‘Visa on Arrival’ facility is extended to approx. 150 countries: FM |
| 11:51 AM Saturday | Tourism in country has increased due to ‘Visa on Arrivals’ introduced last year for citizens from 43 Countries |
| 11:49 AM Saturday | FM proposes to allow foreign INVESTMENTin AIFs |
| 11:49 AM Saturday | 1,000 crores allocated to ‘Nirbahya Fund’ for safety and empowerment of women |
| 11:48 AM Saturday | To curb black MONEY, transaction in cash to be discouraged. Accordingly, we shall take steps to make India a ‘cash less’ society: FM |
| 11:48 AM Saturday | FM proposes to introduce gold monetisation scheme to replace deposit and metal loans |
| 11:46 AM Saturday | Proposal to merge Forward Market Commission with SEBI, FM says |
| 11:46 AM Saturday | FM proposes to create a sector-neutral unit that will address consumer greivances |
| 11:45 AM Saturday | ESI or Health Insurance Scheme or Pension Scheme, employees would have a choice. To be implemented only after consultation with stake holders, FM says |
| 11:44 AM Saturday | We have vision to create a direct-tax regime which is compatible with International-tax standards: FM |
| 11:44 AM Saturday | FM proposes to amend Section 6 of FEMA |
| 11:43 AM Saturday | FM allocates Rs 300 crore to ‘Pradhan Mantri Krishi Sichai yojna’ |
| 11:41 AM Saturday | FM introduces tax free bonds for INVESTMENT road, rail, infrastructure and irrigation |
| 11:41 AM Saturday | I hope to garner additional resources, which can be used up to Rs. 5,000 for MNREGA: FM |
| 11:40 AM Saturday | Ports and public sector will be encouraged to corporatize and become companies under the Companies Act, says FM |
| 11:39 AM Saturday | I intend to appoint an expert committee to make a pre-existing regulatory mechanism to replace multi-permission mechanism: FM |
| 11:38 AM Saturday | 14 Regulatory permissions to be handled at one source: FM |
| 11:37 AM Saturday | Funding for seed capital need to be addressed to create jobs: FM |
| 11:36 AM Saturday | Innovation and R&D should be emphasized and funds are being earmarked for this purpose: FM |
| 11:35 AM Saturday | Tax Free Infrastructure Bonds re-introduced |
| 11:35 AM Saturday | FM emphaized increased outlay on infrastructure |
| 11:34 AM Saturday | Unclaimed deposits of Rs 3,000 crpres in EPF to be used for the benefit of senior citizens |
| 11:34 AM Saturday | ‘Atal Pension Yojana’ to provide defined pension according to contribution; 50% contribution from Govt. |
| 11:33 AM Saturday | FM proposes accidental insurance of 2 lacs for poor at premium of Rs 12 per year |
| 11:33 AM Saturday | ‘Nayi Manzil’ scheme for minority youth to find better EMPLOYMENT |
| 11:33 AM Saturday | FM Proposes Rs 1.25 lakh crore public INVESTMENT for FY16 |
| 11:31 AM Saturday | Senior Citizen Welfare Scheme introduced for old age pensioners |
| 11:30 AM Saturday | I propose to work towards creating a universal social security system for all Indians: FM |
| 11:30 AM Saturday | We will bring bankruptcy code in 2015-16 in consonance with International standards |
| 11:29 AM Saturday | Vast postal network will be involved in process of banking |
| 11:27 AM Saturday | A micro unit development refining agency “mudra bank” introduced with a corpus of 20,000 crores for SCs/STs |
| 11:27 AM Saturday | Need to curb subsidy leakages, not subsidy : FM |
| 11:26 AM Saturday | Rs 34,699 crore allocated for improving MNREGA |
| 11:24 AM Saturday | MNREGA to stay, says Arun jaitley |
| 11:24 AM Saturday | For soil health, I propose to support agricultural ministry; 5,300 crores to support schemes for agriculture: FM |
| 11:23 AM Saturday | Corpus of Rural Agriculture Fund set up by NABARD to get 25,000 Crores: FM |
| 11:22 AM Saturday | FM focuses the need for rationalising subsidies |
| 11:20 AM Saturday | Arun jaitely : We will meet fiscal deficit target of 3% of GDP in three years compared to two years previously |
| 11:19 AM Saturday | FM focuses the need for increasing public INVESTMENT |
| 11:18 AM Saturday | Fiscal Discipline: We will meet the challenge to keep fiscal deficit to 4.1% of the GDP, says FM |
| 11:03 AM Saturday | FM focuses need for increasing INVESTMENT in infrastructure |
| 11:02 AM Saturday | Agricultural income is under stress: Arun Jaitley |
| 11:02 AM Saturday | Expect to implement Goods & Services tax by April 2016 : FM |
| 11:02 AM Saturday | Turn youth of country from job seekers to job creators, says FM |
| 11:02 AM Saturday | We have to ensure North-Eastern States to be at par with economy: FM |
| 11:00 AM Saturday | We need to upgrade schools: FM |
| 11:00 AM Saturday | Each house should have basic facilities, i.e., drinking, sanitation etc,says FM |
| 10:59 AM Saturday | Roof for each family in India, is our objective which shall be fulfilled till 2022: FM |
| 10:59 AM Saturday | At least one member in the each family should have access to by Radio Canyon”>EMPLOYMENT : FM |
| 10:59 AM Saturday | Object of keeping inflation below 6%, says FM |
| 10:58 AM Saturday | We will move to amend the RBI Act this year: FM |
| 10:57 AM Saturday | Success of Jan Dhan Yojna, Transparent Auction and Swach Bharat are three achievements of Modi Government |
| 10:55 AM Saturday | It is my belief that every rupee will be contributed for better life of people, says FM |
| 10:54 AM Saturday | Our actions have not only been confined to the core or macro economic areas alone:FM |
| 10:54 AM Saturday | FM Jaitley says outlook for India is positive, reiterates partnership with states |
| 10:52 AM Saturday | Latest CPI inflation is 5.1%, says FM |
| 10:50 AM Saturday | Government has taken several steps to re-energize the economy, Arun Jaitley says |
| 10:49 AM Saturday | States are equal partner in Economic Growth: FM |
| 10:49 AM Saturday | FM rises to present the Budget for the year 2015-16 |
| 10:43 AM Saturday | Budget speech shall start in a few minutes |
| 10:29 AM Saturday | Sensex rises ahead of Union Budget |
| 10:18 AM Saturday | Hold your nerves as Budget speech is about to begin |
| 10:08 AM Saturday | Prime Minister Narender Modi reaches Parliament |
| 9:55 AM Saturday | Will FM further increase deduction under Section 80C to Rs. 2,00,000? |
| 9:53 AM Saturday | Deductions for Leave Travel Allowance may be allowed every year: TV News Channels |
| 9:39 AM Saturday | Finance Minister reaches Parliament |
| 9:13 AM Saturday |
Finance Bill should simplify tax procedures to end frivolous litigations
Various controversies are arising in Income-tax Act, inter-alia, taxability of developers’ agreements, INVESTMENT
in name of relatives for purpose of Section 54/54F, etc. It is recommended that Finance Minister should propose amendments in the Income-tax Act to end such litigations. Our expectations from Union Budget can be read at [2015] 54 taxmann.com 416 (Article). |
| 9:13 AM Saturday | ‘Swachh Bharat’ Cess is likely to be introduced in this Budget |
| 9:13 AM Saturday | Salaried taxpayers expecting higher exemption limits to bring ‘Achhe Din’ |
| 9:13 AM Saturday |
We hope that Finance Minister may make announcements to boost ‘Make in India’ campaign
The Modi Government seeks to boost Indian manufacturing with a “Make in India” campaign. So, one can expect tax incentives for the manufacturing sector in the forthcoming Union Budget. The tax incentives are more likely to be by way of investment-linked incentives rather than profit-linked incentives.
|
| 9:13 AM Saturday | Lock-in-period of Equity Saving Scheme could be reduced to make it more attractive. |
| 9:13 AM Saturday | Corporates are expecting that GAAR shall be deferred again in this Budget. |
| 9:13 AM Saturday | FinMin may provide tax incentive to manufacturing sector to fulfill dream of ‘Make in India’ of Modi’s Government |
| 9:12 AM Saturday | Whether ‘Arun Jaitley’ will doll out tax sops for common man? |
| 9:12 AM Saturday | Economic Survey showed India as attractive INVESTMENT destination due to decline in inflation. |
| 9:12 AM Saturday |
Budget 2015-16: This is Arun Jaitley’s 2nd and India’s 85th
This is 85th Union Budget in the Indian history, including interim and special-situation budgetary proposals, since the first one of independent India was presented by the then Finance Minister R K Shanmukham Chetty on November 26, 1947.
|
Business So Simple 