Major Relief for Education Loan Borrowers, 9 Lakh Student Borrowers to Benefit
Posted Date : 17-Feb-2014 , 01:19:16 pm | Posted By CASANSAAR
The Union Finance Minister Shri P. Chidambaram has announced a Moratorium period for all education loans taken-up to 31.3.2009 and outstanding on 31.12.2013. Government will take over the liability for outstanding interest as on 31.12.2013, but the borrower would have to pay interest for the period ...
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Relief in service tax for rice warehousing; KRBL up 1.2%
Posted Date : 17-Feb-2014 , 12:47:01 pm | Posted By CASANSAAR
In the Interim Budget, Finance Minister P Chidambaram gave some relief in service tax for rice warehousing and storage.
At 12:26 hrs KRBL was quoting at Rs 46, up Rs 0.55, or 1.21 percent.
It has touched an intraday high of Rs 47.75 and an intraday low of Rs 45.40. &n...
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Budget 2014-15: No major change in tax laws, excise cut to 10%
Posted Date : 17-Feb-2014 , 12:39:35 pm | Posted By CASANSAAR
Presenting the Interim Budget 2014 in Parliament Finance Minister P Chidambaram on Monday proposed no major changes in tax laws.
However, he slashed the excise duty from 12 percent to 10 percent.
The Finance Minister also said GDP growth has improved and will be 4.9 percent for the current f...
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Union Interim Budget 2014 - Live Updates
Posted Date : 17-Feb-2014 , 12:12:04 pm | Posted By CASANSAAR
FM completes his interim Budget speech.
FM - Budget estimates for 2014-15 - Revenue deficits will be 3%.
CHANGE IN INDIRECT TAXES
SERVICE TAX
1. Loading, unloading, storage and warehousing of RICE has been exempted.2. Cord Blood banks exempted from Service Tax
EX...
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Union Interim Budget 2014 - Watch Live Telecast Online on casansaar.com
Posted Date : 17-Feb-2014 , 11:33:19 am | Posted By CASANSAAR
Hon'ble Finance Minister's Presentation of Union Interim Budget in the Parliament on 17th February, 2014.
Watch Live Telecast of Union Interim Budget 2014.
Wait HERE for Live Telecast
...
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What is interim Budget or vote-on-account?
Posted Date : 17-Feb-2014 , 08:00:27 am | Posted By CASANSAAR
Union Finance Minister P Chidambaram is presenting UPA-II's interim Budget on Monday. Here's a description of what an interim budget or vote-on-account is.
A national interim Budget refers to the budget of a government that is going through a transition period. These budgets are common in d...
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P Chidambaram to present Union Budget 2014-15 on Monday
Posted Date : 16-Feb-2014 , 06:55:44 pm | Posted By CASANSAAR
Finance Minister P Chidambaram will present the interim budget for 2014-15 in Parliament on Monday.
Along with the budget, the Finance Minister will present a vote-on-account to seek Parliament's sanction for spending till July.
Also, unlike a regular budget, the interim one does not have any new ...
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Rail Budget 2014: 17 premium trains, 38 express trains to be introduced
Posted Date : 13-Feb-2014 , 01:20:16 pm | Posted By CASANSAAR
No Increase in Passenger Fares and Freight
Outlay of Rs 64,305 Crore Proposed for Rail Budget with A Budgetary Support of Rs 30,223 Crore
17 New Premium Trains, 38 Express Trains and 10 Passenger Trains Proposed
Surveys For 19 New Lines and Doubling of 5 Tracks to be Taken Up
Meghalay...
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FinMin initiates exercise for interim budget
Posted Date : 02-Jan-2014 , 07:32:08 pm | Posted By CASANSAAR
Gearing up for the presentation of interim budget, Finance Ministry has asked different central government departments to come up with their demands by January 10.
The third and final batch of Supplementary Demands for Grants for 2013-2014 (excluding Railways) is proposed to be pres...
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Finance Bill, Railways Budget passed without debate after Opposition walkout
Posted Date : 30-Apr-2013 , 04:27:18 pm | Posted By CASANSAAR
The passage of the General and Railway budgets was rushed through as the guillotine had to applied to meet the constitutional requirements.
Government today ruled out imposition of wealth tax on agriculture land as the Lok Sabha completed the budgetary exercise in an unusual way with Financ...
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Jaya govt presents tax-free budget in Tamil Nadu
Posted Date : 21-Mar-2013 , 02:08:03 pm | Posted By CASANSAAR
Tamil Nadu Government today presented a tax-free budget for 2013-14, proposing 'prudent fiscal management". The state government came heavily on the Union Government for not taking any steps to control fiscal deficit and to boost the growth.
Finance Minister O Panneerselvam, who presented the budge...
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Delhi budget: Threshold raised for registration under VAT
Posted Date : 21-Mar-2013 , 09:01:48 am | Posted By CASANSAAR
Extending relief to small traders in the budget presented on Wednesday, Delhi Chief Minister Sheila Dikshit announced proposal to raise the threshold limit for registration under VAT from Rs 10 lakh to 20 lakh.
While announcing the sop, Sheila claimed that Delhi is the first state in the country to...
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Tax-free Delhi budget in an election year
Posted Date : 21-Mar-2013 , 09:00:52 am | Posted By CASANSAAR
No new tax was levied and chilly spray, desi ghee and LED lights will be cheaper with Delhi government today proposing to reduce or eliminate VAT on them in its budget which focussed on social sector in an election year as Congress seeks a record 4th term in power.
Prese...
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The A, B, C … of Punjab budget 2013
Posted Date : 21-Mar-2013 , 08:58:29 am | Posted By CASANSAAR
Hindustan Times cuts through the jargon and jugglery of the statistics-loaded budget and brings out the key phrases, personalities and political expedients that shaped finance minister Parminder Singh Dhindsa's budget, laying out the SAD-BJP government's growth roadmap for the year ahead.
...
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Riding on VAT, Punjab aims to mop up Rs 28,524 cr in taxes
Posted Date : 21-Mar-2013 , 08:42:00 am | Posted By CASANSAAR
The Punjab government Wednesday set for itself an unprecedented target of tax revenue collection pegged at Rs 28,524 crore for 2013-14. While this alone makes for 66 per cent of the revenue receipts expected in the new fiscal, the state has set a rather lofty challenge for itself.
Encourage...
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Voluntary service tax scheme not for assesses under probe or audit
Posted Date : 08-Mar-2013 , 08:00:17 am | Posted By CASANSAAR
The voluntary compliance encouragement scheme (VCES) announced in the Union budget to boost service tax collections will not be made available to tax assesses against whom any inquiry or investigation is pending by issue of search warrant or summons or by way of audit.
Officials explained that this...
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Budget 2013: Parliamentarians oppose jail for service tax evaders with dues above Rs 50 lakh
Posted Date : 07-Mar-2013 , 07:45:47 am | Posted By CASANSAAR
Attempts by tax officials to garner power of arrest over individuals guilty of not paying service taxexceeding Rs 50 lakh has run into opposition from members of Parliament (MPs) across parties. Finance Minister P Chidambaram's proposal in the Budget to introduce Section 91, which wil...
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Failure to pay excise, service tax may lead to arrest: Finance Bill 2013
Posted Date : 04-Mar-2013 , 06:48:55 pm | Posted By CASANSAAR
Failure to pay excise duty and service tax could lead to arrest of defaulters, as per the provisions proposed in the Finance Bill 2013 introduced by Finance Minister P Chidambaram in the Lok Sabha.
As per the provisions, offences relating to excise and customs duty evasion of over Rs 50 lak...
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Budget 2013: FinMin issues clarification on tax residency certificate
Posted Date : 02-Mar-2013 , 08:41:46 am | Posted By CASANSAAR
The finance ministry on Friday issued a clarification on tax residency certificates (TRC) after concerns were expressed regarding the clause in the Finance Bill that amends Section 90 of the Income Tax Act. Section 90 deals with Double Taxation Avoidance Agreements (DTAA).
Finmin clari...
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Budget 2013: Impact of corporate tax proposals
Posted Date : 01-Mar-2013 , 08:29:10 am | Posted By CASANSAAR
Under the corporate tax, although there are no changes proposed to Income tax rates but the surcharge is proposed to increase from 5 to 10 % on domestic companies having income exceeding INR 10 crore. In case of foreign companies (if income exceeds INR 10 crores), surcharge will increase f...
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Budget 2013: Buyback of shares by unlisted companies taxed
Posted Date : 01-Mar-2013 , 08:07:25 am | Posted By CASANSAAR
Union finance minister P Chidambaram in his budget 2013 has decided to levy a withholding tax of 20 % on profits distributed by unlisted companies to shareholders through buyback of shares. The move will deter unlisted companies opting for buyback of shares. Tax consultants ...
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Budget 2013: MCA to get higher allocation at Rs 255.28 cr for next fiscal
Posted Date : 01-Mar-2013 , 08:05:24 am | Posted By CASANSAAR
The Corporate Affairs Ministry will get higher budgetary allocation at Rs 255.28 crore in the next fiscal, with increased funding for think-tank IICAand investigation agency SFIO, among others. According to the Budget proposals, the government has earmarked Rs 255.28 cr...
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Highlights of the Union Budget 2013-14
Posted Date : 28-Feb-2013 , 02:17:15 pm | Posted By CASANSAAR
The Union Budget for 2013-14 aims at higher growth rate leading to inclusive and sustainable development as ‘mool mantra’.
· Finance Minister makes three promises: to women, youth and the poor.
· ...
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Budget Summary
Posted Date : 28-Feb-2013 , 02:16:10 pm | Posted By CASANSAAR
The Union Budget for 2013-14 aims at ‘higher growth leading to inclusive and sustainable development.’ With this asmool mantra, the Finance Minister Shri P Chidambaram has sought to increase allocation to key areas and provide incentives for investments and savings while containing the f...
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Relief for Taxpayers in the Bracket of Rs.2 Lakh to 5 Lakh Tax Credit of Rs.2000 to Every Person with Total Income upto 5 Lakh
Posted Date : 28-Feb-2013 , 02:14:38 pm | Posted By CASANSAAR
The Finance Bill 2013-14 proposes a relief of Rs.2000 to every person who has a total income upto Rs.5 lakh in a financial year.
Presenting the Union Budget in the Lok Sabha today, the Finance Minister Shri P.Chidambaram said that 1.80 crore taxpayers are expected to benefit to the value o...
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Surcharge of 10 Per Cent on Persons with Taxable Income Exceeding Rs.1 Crore
Posted Date : 28-Feb-2013 , 02:12:59 pm | Posted By CASANSAAR
The Finance Bill 2013-14 proposes a surcharge of 10 per cent on persons whose taxable income exceed Rs. 1 crore per year. This will apply to individuals, HUFs, firms and entities with similar tax status. Presenting the Union Budget in the Lok Sabha today, the Finance Minister Shri P.Chidambaram said...
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Additional Deduction of Interest upto Rs.1 Lakh on Home Loan for First Home Buyer
Posted Date : 28-Feb-2013 , 02:12:05 pm | Posted By CASANSAAR
The Finance Bill 2013-14 proposes additional tax benefit to the first – home buyer who takes a loan for an amount not exceeding Rs.25 lakh. Presenting the Union Budget in the Lok Sabha today, the Finance Minister Shri P.Chidambaram proposed that a person taking a loan for his first home from a...
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Securities Transaction Tax (STT) Reduced
Posted Date : 28-Feb-2013 , 01:59:45 pm | Posted By CASANSAAR
The Finance Bill 2013-14 proposes reduction in the rates of Securities Transaction Tax (STT) in respect of certain transactions. Presenting the Union Budget in the Lok Sabha today, the Finance Minister Shri P.Chidambaram proposed the fol...
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Commodities Transaction Tax (CTT) Introduced in a Limited Way; Agricultural Commodities will be Exempt
Posted Date : 28-Feb-2013 , 01:55:16 pm | Posted By CASANSAAR
The Finance Bill 2013 proposes to introduce Commodities Transaction Tax(CTT) in a limited way. Presenting the Union Budget in the Lok Sabha today, the Finance Minister Shri P.Chidambaram said that CTT shall be levied on non-agricultural commodities future contracts at the same rate as on equity futu...
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No Change in the Normal Rates of Excise Duty and Service Tax
Posted Date : 28-Feb-2013 , 01:53:23 pm | Posted By CASANSAAR
There is no change in the peak rate of basic customs duty of 10% for non-agricultural products. Presenting the Union Budget in Lok Sabha today, the Finance Minister announced that there will be no change in the normal rate of excise duty of 12% and the normal rate of service tax of 12%....
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