No intention to tax global income of NRIs in India - FM
Posted Date : 03-Feb-2020 , 09:16:06 am | Posted By CASANSAAR
Finance Minister Nirmala Sitharaman on Sunday said that there is no intention to tax global income of NRIs and only income generated in India will be taxed.
Following the Budget announcement on Saturday there was confusion about the tax liability of Non-Resident Indians (NRIs) on their global inc...
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MSMEs turnover threshold for Audit increased 5 times to Rs 5 Cr
Posted Date : 01-Feb-2020 , 02:54:11 pm | Posted By CASANSAAR
In order to reduce the compliance burden on small retailers, traders, shop keepers who comprise the Medium, Small and Micro Enterprise (MSME) sector, the Union Budget proposed to raise by five times the turnover threshold for audit from the existing Rs. 1 crore to Rs. 5 crore. While presenting ...
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FM proposes wide-ranging facilitation measures in Direct Tax Regime
Posted Date : 01-Feb-2020 , 02:48:04 pm | Posted By CASANSAAR
The Union Budget has proposed ‘Vivad Se Vishwas’ Scheme (No dispute but trust) which aims at reducing litigations in the direct taxes payments. While presenting the Union Budget 2020-21 in Parliament today, the Union Minister for Finance & Corporate Affa...
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Increase in Customs Duty on Footwear and Furniture to promote domestic MSMEs
Posted Date : 01-Feb-2020 , 02:43:16 pm | Posted By CASANSAAR
Keeping in view the need of MSME sector, Customs duty is being raised on items like footwear (from 25% to 35% on footwear and from 15% to 20% on parts of footwear) and furniture (from 20% to 25%). While presenting the Union Budget 2020-21 in Parliament today, the Union Minister for Fi...
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Budget 2020 - Rs.99,300 crore for Education, Rs. 3,000 Cr for Skill Development
Posted Date : 01-Feb-2020 , 02:36:29 pm | Posted By CASANSAAR
150 Higher Educational Institutions to start apprenticeship embedded degree/diploma courses by March, 2021 Degree level online education programmes for students of deprived sections of the society External Commercial Borrowings and FDI to be encouraged for financing education infrastructure Ind-SAT ...
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Rs 35,600 Cr outlay for nutrition-related Programmes for 2020-21
Posted Date : 01-Feb-2020 , 02:32:46 pm | Posted By CASANSAAR
Rs 28,600 Crore allocated for programs specific to Women Gross Enrolment Ratio of Girls exceeds that of Boys across all levels of education Rs 85,000 Crore outlay for welfare of Scheduled Castes and other Backward Classes for 2020-21 Rs 53,700 Crore allocated for welfare of scheduled tribes fo...
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Budget 2020 - Reforms in Banking Sector to remain priority - FB
Posted Date : 01-Feb-2020 , 02:30:48 pm | Posted By CASANSAAR
Deposit Insurance coverage to be increased to Rs. Five lakh per depositor PFRDAI Amendments: separate NPS trust for Govt Employees Proposal to sell a part of government holding in LIC by way of IPO: opportunity for retail investors Focus on MSMEs: Invoice Financing, Subordinate Debt, Export support ...
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Data Centre Parks Policy soon for Private Firms to Leverage the Power of Data
Posted Date : 01-Feb-2020 , 02:29:56 pm | Posted By CASANSAAR
RS. 6000 crore proposed for Bharatnet Programme to link 100,000 Gram Panchayats Knowledge Translation and Technology Clusters Amongst Measures to Boost Start-Ups Rs. 8000 crore outlay over five years for National Mission on Quantum Technologies and Applications
Emphasizing on the disrup...
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Tourism sector proposed to get Rs 2,500 Crore in union budget 2020-21
Posted Date : 01-Feb-2020 , 02:29:02 pm | Posted By CASANSAAR
Rs 3,150 Crore proposed for Ministry of Culture Indian Institute of Heritage and Conservation to be established 8 New Museums proposed, 5 Museums set for major overhaul 5 Iconic sites to see Infrastructure development
To make India an attractive destination for both international and do...
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Budget 2020 - 100 more Airports to be developed by 2024 to support UDAAN Scheme
Posted Date : 01-Feb-2020 , 02:28:03 pm | Posted By CASANSAAR
Union budget proposes Rs. 22000 Crore for Power and Renewable Energy sector in Current FY National Gas Grid to be expanded from the present 16200 km to 27000 km Government to consider corporatizing at least one major port and its listing on stock exchanges
Union Minister for Finance &am...
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Summary of Union Budget 2020-21 - Part B
Posted Date : 01-Feb-2020 , 02:23:55 pm | Posted By CASANSAAR
Finance Minister Smt Nirmala Sitharaman said that the Union Government has spearheaded radical fiscal measures to ensure that India‟s economy continues to tread the path of high growth. She said that to make sure India stays globally competitive and a favoured destination for investment, a bold hi...
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Key Highlights of Union Budget 2020-21
Posted Date : 01-Feb-2020 , 02:11:17 pm | Posted By CASANSAAR
Presenting the first Union Budget of the third decade of 21st century, Finance Minister Smt. Nirmala Sitharaman, today unveiled a series of far-reaching reforms, aimed at energizing the Indian economy through a combination of short-term, medium-term, and long-term measures.
The Key Highlights of ...
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FM to present Union Budget for 2020-2021 in Lok Sabha today
Posted Date : 01-Feb-2020 , 08:01:31 am | Posted By CASANSAAR
Finance Minister Nirmala Sitharaman will present the budget for the next financial year in the Lok Sabha at 11.00 a.m. today. AIR correspondent reports that the budget is expected to focus on ease of doing business, entrepreneurship and wealth creation at the Grassroots.
The Finance M...
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Key Highlights of Economic Survey 2019-20
Posted Date : 31-Jan-2020 , 04:51:18 pm | Posted By CASANSAAR
The Union Minister for Finance & Corporate Affairs, Smt. Nirmala Sitharaman presented the Economic Survey 2019-20 in the Parliament today. The Key Highlights of the Economic Survey 2019-20 are as follows:
Wealth Creation: The Invisible Hand Supported by the Hand of Trust
...
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FM kicks off budgetary exercise with HALWA ceremony
Posted Date : 21-Jan-2020 , 08:12:52 am | Posted By CASANSAAR
It is a tradition to have something sweet before any auspicious event in India. The Union budget is no exception.
Printing of the budget documents started on Monday, with the finance minister Nirmala Sitharaman attending the customary ‘halwa’ ceremony. As part of the over-70-year-old ...
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Budget may make faking input tax non-bailable crime for buyers too
Posted Date : 15-Jan-2020 , 09:04:48 am | Posted By CASANSAAR
The government is likely to make fraudulent claims for input tax credit a non-bailable offence in the hands of recipients of goods and services in the February 1 budget by tightening the GST law, as it seeks to plug leakages.
CXOs, directors or employees directly responsible for making such claim...
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Government may address inverted duty structure in Budget
Posted Date : 14-Jan-2020 , 07:59:10 am | Posted By CASANSAAR
To boost manufacturing as part of the 'Make In India' campaign, the government is expected to address the issue of inverted duty structure, especially in sectors such as chemicals and electronics, in the forthcoming Budget, sources said. Inverted duty structure refers to taxation of inputs a...
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FM to hold pre-Budget consultations with stakeholders beginning Monday
Posted Date : 16-Dec-2019 , 10:09:47 am | Posted By CASANSAAR
Beginning the customary pre-Budget consultation exercise from Monday, Finance Minister Nirmala Sitharaman will seek inputs from various stakeholders including industry bodies, farmer organisations and economists for reviving consumption and boosting growth.
Sitharaman is likely to present her sec...
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Finance Ministry to kick-start budgetary exercise from Oct 14
Posted Date : 07-Oct-2019 , 07:52:40 am | Posted By CASANSAAR
The finance ministry will kick-start the exercise to prepare annual Budget for 2020-21 from October 14.
According to a Budget Circular of the Budget Division of the Finance Ministry's Department of Economic Affairs, the pre-Budget or Revised Estimate meetings will begin on 14th of this ...
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SEBI for listing social enterprises and voluntary organizations
Posted Date : 06-Jul-2019 , 11:24:47 am | Posted By CASANSAAR
Union Budget proposes creation of a social stock exchange- under the regulatory ambit of Securities and Exchange Board of India (SEBI) for listing social enterprises and voluntary organizations.
Government to take up necessary measures for inter-operability of RBI depositories and SEBI depositori...
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Key Highlights of Union Budget 2019-20
Posted Date : 05-Jul-2019 , 02:43:23 pm | Posted By CASANSAAR
The Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman made her maiden Budget Speech today and presented the Union Budget 2019-20 before the Parliament. The key highlights of Union Budget 2019 are as follows:
10-point Vision for the decade
Building Team India with Jan Bhagida...
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GST returns; threshold for goods supplier to be enhanced from Rs. 20 lakhs to Rs. 40 lakhs
Posted Date : 05-Jul-2019 , 02:14:35 pm | Posted By CASANSAAR
GST processes further simplified; businesses with less than Rs. 5 crore annual turnover to file quarterly GST returns; threshold for goods supplier to be enhanced from Rs. 20 lakhs to Rs. 40 lakhs
Sabka Vishwas Legacy Dispute Resolution Scheme to resolve litigations involving more than Rs. 3.75 Lak...
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All necessary steps to be taken to meet public shareholding norms of 25% for all listed PSUs
Posted Date : 05-Jul-2019 , 02:09:45 pm | Posted By CASANSAAR
All necessary steps to be taken to meet public shareholding norms of 25% for all listed PSUs
Government to start raising a part of its Gross Borrowing Programme in External Markets
New coins of One, Two, Five, Ten & Twenty Rupees easily identifiable to visually impaired to be made available fo...
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Union Budget Proposes Strengthening MSMEs to Boost Make in India
Posted Date : 05-Jul-2019 , 02:03:49 pm | Posted By CASANSAAR
Union Budget Proposes Strengthening MSMEs to Boost Make in India
Rs. 350 Crore Allocated Under Interest Subvention Scheme
Pension Benefit to 3 Crore Retail Traders, Small Shopkeepers with Annual Turnover Less Than Rs.1.5 Crore Under Pradhan Mantri Karam Yogi Maandhan Scheme
100 New Clusters to be...
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Public Sector Banks proposed to be provided Rs 70,000 crore capital to boost credit
Posted Date : 05-Jul-2019 , 01:56:35 pm | Posted By CASANSAAR
Public Sector Banks are to be further provided Rs 70,000 crore capital to boost credit for a strong impetus to the economy. To further improve ease of living, they will leverage technology, offering online personal loans and doorstep banking, and enabling customers of one Public Sector Bank to acces...
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Union Budget proposes measures to deepen Corporate Debt markets
Posted Date : 05-Jul-2019 , 01:54:31 pm | Posted By CASANSAAR
A number of measures to further deepen bond markets have been proposed by the Union Minister of Finance and Corporate Affairs, Smt. Nirmala Sitharaman, while presenting the Union Budget 2019-20 in Parliament today.
The Finance Minister said, “Corporate Debt markets are crucial for the infrast...
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Tax rates for individuals having taxable income from Rs. 2 cr - 5 cr and Rs. 5 cr & above to be increased by around 3 % and 7 % respectively
Posted Date : 05-Jul-2019 , 01:52:15 pm | Posted By CASANSAAR
Tax rates for individuals having taxable income from Rs. 2 cr - 5 cr and Rs. 5 cr & above to be increased by around 3 % and 7 % respectively
Direct Tax revenue increases by over 78 % in FY2018-19 from FY 2013-14; rose to Rs. 11.37 lakh crore from Rs. 6.38 lakh crore
Relief proposed in Le...
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Union Budget stresses the need for heavy investment in infrastructure, Digital Economy and job creation in small and medium firms
Posted Date : 05-Jul-2019 , 01:43:23 pm | Posted By CASANSAAR
Union Budget stresses the need for heavy investment in infrastructure, Digital Economy and job creation in small and medium firms
In Transport sector, budget proposes PPP in railways, roadmap to make India a hub of maintenance, repair and overhaul and aircraft financing / leasing activities and&nbs...
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Lower rate of 25 % Corporate Tax extended to companies with Annual Turnover up to Rs. 400 crore from earlier cap of upto Rs 250 crore
Posted Date : 05-Jul-2019 , 01:36:39 pm | Posted By CASANSAAR
Lower rate of 25 % Corporate Tax extended to companies with Annual Turnover up to Rs. 400 crore from earlier cap of upto Rs 250 crore
Interchangeability of PAN and Aadhaar to file tax return proposed
2 % TDS on cash withdrawal exceeding Rs. 1 crore in a year from a bank account to encourage ...
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Govt hikes divestment target to Rs 1.05 lk cr for FY20
Posted Date : 05-Jul-2019 , 01:15:48 pm | Posted By CASANSAAR
Finance Minister Nirmala Sitharaman on Friday announced raising the disinvestment target to Rs 1,05,000 crore from FY2019-20 as against Rs 90,000 crore set in the interim budget.
Presenting the first Budget of the Modi government in its second term, Sitharaman said the sovereign external debt to GD...
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