Union Budget 2015 Highlights

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. 

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