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News Category : Budget

Budget to ensure transparency in political funding - ICAI
Posted Date : 02-Feb-2017 , 08:24:58 am | Posted By CASANSAAR

Apex body of chartered accountants ICAI said the stringent and bold measures proposed in the Union Budget would ensure transparency in electoral funding. In the Budget, the government has proposed restricting permissible cash donation from any person to a political party at Rs 2,000, among other ...

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Auditors, valuers to be fined Rs 10,000 for incorrect certificate
Posted Date : 02-Feb-2017 , 08:20:32 am | Posted By CASANSAAR

Finance Minister Arun Jaitley on Wednesday proposed to penalise accountants, merchant bankers or registered valuers if they provide incorrect information or certificate. New section 271J proposed to be inserted to provide that penalty of Rs.10,000 would be levied, if an accountant or a merchant b...

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Category : Budget | Comments : 1 | Hits : 1111

Budget 2017 proposes a penalty for delayed filing of income tax return
Posted Date : 02-Feb-2017 , 08:14:54 am | Posted By CASANSAAR

Taxpayers who do not file their income tax returns (ITRs) on time will have to shell out a penalty of up to Rs10,000, but from the 2018-19 Assessment Year (AY). “In order to ensure that return is filed within due date, it is proposed to insert a new section 234F in the Act (I-T Act) to prov...

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Salient Features of Direct Tax Proposals in Union Budget 2017
Posted Date : 02-Feb-2017 , 07:57:51 am | Posted By CASANSAAR

The Union Budget 2017 was laid before the Parliament today by the Hon’ble Finance Minister of India. The salient features of Direct Tax proposals are summarised below:   I.          Affordable Housing:   1.      &nb...

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FM reduces the tax rate from 10 to 5 per cent for individual income between Rs 2.5 to Rs 5 lakh.
Posted Date : 01-Feb-2017 , 02:32:55 pm | Posted By CASANSAAR

Finance Minister reduces the tax rate from 10 to 5 per cent for individual income between Rs 2.5 to Rs 5 lakh.  Finance Minister appeals to all citizens to contribute to Nation Building by making a small payment of 5 per cent tax if their income is falling in this slab.  A simple one...

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Category : Budget | Comments : 0 | Hits : 406

First combined Budget of Independent India, that includes Railways, presented
Posted Date : 01-Feb-2017 , 02:29:36 pm | Posted By CASANSAAR

The Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley while presenting the General Budget 2017-18, in Parliament today, said that this Budget is the First combined Budget of Independent India that includes the Railways. He said that India is now in a position to synergize the inves...

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Category : Budget | Comments : 0 | Hits : 158

FIPB to be phased-out in the next fiscal, Bill to be tabled in Parliament soon to crack down on ponzy schemes
Posted Date : 01-Feb-2017 , 02:13:55 pm | Posted By CASANSAAR

While presenting the General Budget 2017-18 in Lok Sabha here today, the Union Finance Minister, Shri Arun Jaitley proposed that the Foreign Investment Promotion Board (FIPB) will be phased-out in the next fiscal. Expressing concern over dubious deposit schemes, Shri Jaitley said that a Bill will so...

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Budget gives a major push to Digital Economy; proposes No Cash Transaction above Rs 3 lakh
Posted Date : 01-Feb-2017 , 02:11:12 pm | Posted By CASANSAAR

In a bid to give a push to Digital Economy and weed-out corruption and black money, the Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley in his Budget Speech today said that the Government has decided that no transaction above Rs 3 lakh will be permitted in cash. Accepting a sugge...

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Union Budget 2017 - Finance Minister announces several anti graft and rationalisation measures in the field of Income tax
Posted Date : 01-Feb-2017 , 02:09:27 pm | Posted By CASANSAAR

The Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley while presenting the General Budget 2017-18 in Parliament today said that the present burden of taxation is mainly on honest tax payers and salaried employees who are showing their income correctly. He said that the Government i...

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Category : Budget | Comments : 0 | Hits : 236

Union Budget 2017 - Shares of Railway PSEs - IRCTC, IRFC and IRCON to be listed
Posted Date : 01-Feb-2017 , 02:07:00 pm | Posted By CASANSAAR

While presenting the General Budget 2017-18 in Lok Sabha here today, the Union Finance Minister Shri Arun Jaitley has said that the shares of Railway Public Sector Enterprises (PSEs) like IRCTC, IRFC and IRCON will be listed in stock exchanges. The Government will encourage strengthening the CP...

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Union Budget 2017 - Presumptive income scheme for audit of entities raised from Rs. 1 crore to Rs. 2 crore
Posted Date : 01-Feb-2017 , 02:04:23 pm | Posted By CASANSAAR

  Presumptive income scheme for audit of entities raised from Rs. 1 crore to Rs. 2 crore; Threshold for maintenance of books for individuals and HUF more than doubled  Individual Insurance agents earning below taxable limit to be exempted from 5% TDS off commission after filing self-...

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Union Budget 2017 - 18 proposes Reduction in Customs and Excise for Renewable Energy Sector, and Cashless Transaction Devices
Posted Date : 01-Feb-2017 , 02:01:23 pm | Posted By CASANSAAR

The Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley while presenting the General Budget 2017-18 in Parliament today announced substantial relief in Customs and Excise Duties for Renewable Energy Sector and for manufacture of Cashless Transaction Devices. In a bid to incentiviz...

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Union Budget 2017 - Live Updates
Posted Date : 01-Feb-2017 , 01:03:29 pm | Posted By CASANSAAR

FM Arun Jaitley to present Union Budget 2017 today. CASANSAAR are providing you live updates of Union Budget 2017. JUST REFRESH THE PAGE (CLICK F5) FOR ALL LIVE UPDATES. Lok Sabha adjourned after Arun Jaitley introduces Finance Bill  GST Council finalised its recommendations; impleme...

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Category : Budget | Comments : 0 | Hits : 5109

Union Budget 2017 - Watch Live Telecast Online on casansaar.com
Posted Date : 01-Feb-2017 , 08:53:17 am | Posted By CASANSAAR

Hon'ble Finance Minister's Presentation of Union Budget 2017 in the Parliament on 01st Feb 2017.   ...

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Finance Minister Shri Arun Jaitley Presented Economic Survey 2016-17 in the Parliament
Posted Date : 01-Feb-2017 , 08:48:50 am | Posted By CASANSAAR

Economic Survey says economic growth to return to normal as new currency notes in required quantities come back into circulation and follow-up action on demonetisation is taken.   The CPI based core inflation remained stable in the current fiscal year averaging around 5 per cent. The Economi...

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Finance Minister to present Union Budget today
Posted Date : 01-Feb-2017 , 08:36:02 am | Posted By CASANSAAR

Finance Minister Arun Jaitley will present the Union Budget in Parliament today. There will be no separate Rail Budget from this year, as it has been merged with the General Budget.  Yesterday, the Economic Survey was presented in the Parliament.  After presenting the Budget, Mr Jait...

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Category : Budget | Comments : 0 | Hits : 100

Budget on Feb 1-SC Dismiss Plea, EC gives nod but with riders
Posted Date : 24-Jan-2017 , 09:02:01 am | Posted By CASANSAAR

The Election Commission gave its nod to the Centre to present the Union Budget on February 1 ahead of the Assembly polls, but said no schemes related to these poll-bound states can be announced and the Finance Minister’s speech should not refer to the government’s achievements in these s...

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Category : Budget | Comments : 0 | Hits : 654

Budget 2017 to be presented on Feb 1, SC dismisses plea on postponing it
Posted Date : 23-Jan-2017 , 05:04:57 pm | Posted By CASANSAAR

Supreme Court on Monday dismissed the plea to change the Budget date from February 1. According to PTI, the Supreme Court dismissed the PIL, filed by ML Sharma, as there was no illustration to support that the presentation of the Budget would influence voters’ mind in state elections. The P...

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Category : Budget | Comments : 0 | Hits : 118

Eight opposition parties demand postponement of Budget presentation to March 8
Posted Date : 05-Jan-2017 , 05:04:01 pm | Posted By CASANSAAR

Eight opposition parties including Congress, JD(U), and TMC today met the Election Commission and demanded that the budget should be presented after 8th of March which is the last day of voting in states going to polls.  Talking to media in New Delhi, senior Congress leader Ghulam Nabi Azad ...

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Union Budget likely to be tabled on February 1
Posted Date : 03-Jan-2017 , 10:24:46 pm | Posted By CASANSAAR

As part of a major overhaul of the budget process, the Cabinet Committee on Parliamentary Affairs (CCPA) on Tuesday recommended advancing the holding of the Budget Session from January 31 followed by the presentation of the Union Budget on February 1. Both the address of the President and tabling...

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Category : Budget | Comments : 0 | Hits : 140

FinMim invites suggestions from public for forthcoming Budget
Posted Date : 30-Nov-2016 , 08:48:51 am | Posted By CASANSAAR

Finance Ministry has invited suggestions from public for Budget 2017-18 to encourage Jan Bhagidari and make the procedure of budget formation transparent.  According to a post on 'My Gov' portal, people can submit their suggestions by 15th of next month. People can submit suggestions...

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Category : Budget | Comments : 0 | Hits : 191

Union Budget 2017 to be presented on February 1
Posted Date : 16-Nov-2016 , 05:29:28 pm | Posted By CASANSAAR

The Union Budget will now be an early affair as the government has decided to present it on February 1. This announcement has come just a day before the start of the winter session of Parliament, to be held from November 16 to December 16, which is generally convened in the 3rd or 4th week of Novemb...

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Category : Budget | Comments : 0 | Hits : 178

Finmin seeks industry suggestions on taxation for Budget
Posted Date : 07-Oct-2016 , 07:05:21 pm | Posted By CASANSAAR

Gearing up for early presentation of Union Budget 2017-18, the Finance Ministry has asked industry and trade bodies to start sending suggestions on taxation and other fiscal issues. The central budget for next financial year is likely to be presented in Parliament latest by February 2 or earlier,...

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Category : Budget | Comments : 0 | Hits : 161

Cabinet approves merging of Rail budget with Union Budget
Posted Date : 21-Sep-2016 , 07:15:10 pm | Posted By CASANSAAR

Ending a 92-year-old tradition, the Union Cabinet on Wednesday decided to merge the Railway budget with the General budget and agreed in-principle to advance the date of its presentation in Parliament from the usual February end. The actual date for presentation of the General budget for 2017-18 ...

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Category : Budget | Comments : 0 | Hits : 253

Cabinet to consider Union Budget presentation on February 1
Posted Date : 21-Sep-2016 , 08:05:39 am | Posted By CASANSAAR

Breaking from tradition, the general budget of the Union government is likely to be presented on February 1 instead of the last day of the month, as part of an overhaul that would also scrap the practice of a separate railway budget. The proposal for advancing of the budget and the merger of the ...

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Category : Budget | Comments : 0 | Hits : 426

Budget overhaul: FinMin readies presentation before PM
Posted Date : 13-Sep-2016 , 08:12:32 pm | Posted By CASANSAAR

The Indian finance ministry plans to make a presentation to the Prime Minister on the proposed overhaul of the Budget by shifting to outcome-based budgeting, and merger of rail with the general Budget. Bringing forward the Budget presentation date by a month to January end, scrapping the distinct...

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Category : Budget | Comments : 0 | Hits : 238

Parliament passes Appropriation, Finance Bills 2016; Also clears Insolvency and Bankruptcy Bill
Posted Date : 12-May-2016 , 05:11:38 am | Posted By CASANSAAR

Parliament passed Appropriation and Finance Bills with Rajya Sabha returning them to the Lok Sabha after a four-hour debate. It also cleared the Insolvency and Bankruptcy Code,2016. Replying to the debate on Appropriation and Finance Bills , Finance Minister Arun Jaitley asked the Congress to rec...

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Category : Budget | Comments : 0 | Hits : 625

Rajya Sabha to take up Finance Bill on May 9
Posted Date : 09-May-2016 , 08:50:56 am | Posted By CASANSAAR

Finance Minister Arun Jaitley will move the Finance Bill in the Rajya Sabha  on Monday for discussion after the Lok Sabha passed it last week with 21 changes including withdrawal of the proposal to tax withdrawal on provident fund.   Finance Minister Arun Jaitley retained the 1 ...

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Category : Budget | Comments : 0 | Hits : 586

Lok Sabha passes Finance Bill 2016
Posted Date : 05-May-2016 , 08:39:12 pm | Posted By CASANSAAR

  The Lok Sabha on Thursday passed the finance bill, retaining the excise duty on jewellers despite opposition from some political parties. In his reply to the finance bill, Arun Jaitley defended the government’s decision and said the tax was much lower than what was levied by som...

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Category : Budget | Comments : 0 | Hits : 632

Highlights of Delhi Budget 2016-17
Posted Date : 29-Mar-2016 , 07:22:18 am | Posted By CASANSAAR

The following are some of the highlights of the Delhi Budget for 2016-17: Items on which Value Added Tax (VAT) is proposed to be slashed from 12.5 percent to 5 percent * Sweets and Namkeens * Readymade garments costing above Rs.5,000 * Marble * Footwear costing above Rs.500 * Schoo...

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Category : Budget | Comments : 0 | Hits : 952

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