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Summary of the Budget 2021-22
Posted Date : 01-Feb-2021 , 02:27:08 pm | Posted By CASANSAAR

PART-A The Union Minister for Finance & Corporate Affairs, Smt Nirmala Sitharaman presented the Union Budget 2021-22 in Parliament today, which is the first budget of this new decade and also a digital one in the backdrop of unprecedented COVID-19 crisis. Laying a vision for AatmaNirbhar Bhar...

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Union Budget 2021 - Highlight of Direct Tax Proposals
Posted Date : 01-Feb-2021 , 01:48:06 pm | Posted By CASANSAAR

The Union Budget 2021-22 presented in Parliament today by the Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman seeks to further simplify the Tax Administration, Litigation Management and ease the compliance of Direct Tax Administration.       &n...

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FM Nirmala Sitharaman to present Union Budget 2021-22 in Lok Sabha at 11 AM
Posted Date : 01-Feb-2021 , 09:31:13 am | Posted By CASANSAAR

The Union Budget 2021-22 will be presented in the Parliament today. Finance Minister Nirmala Sitharaman will present the Budget in the Lok Sabha at 11 AM. The Union Budget this year for the first time will be available only in digital format. It can be accessed through the mobile app UNION BUDGET bo...

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Government to introduce bill to ban cryptocurrency in Budget Session
Posted Date : 30-Jan-2021 , 10:23:35 am | Posted By CASANSAAR

The government is to introduce a bill to ban, with exceptions, the trading in cryptocurrencies in India and also put in place the framework for an official digital currency to be issued by the Reserve Bank of India. The move is likely to end ambiguity on cryptocurrency which is neither banned nor...

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Key Highlights of Economic Survey 2020-21
Posted Date : 30-Jan-2021 , 10:19:01 am | Posted By CASANSAAR

Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman presented the Economic Survey 2020-21 in the Parliament today. The key highlights of Economic Survey 2020-21, which is dedicated to the COVID Warriors, are as follows: Saving Lives and Livelihoods amidst a Once-in-a-Ce...

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Summary of Economic Survey-2020-21
Posted Date : 29-Jan-2021 , 06:24:12 pm | Posted By CASANSAAR

India’s real GDP to record a growth of 11 per cent in 2021-22 and nominal GDP by 15.4 per cent-the highest since independence. The V-shaped economic recovery is supported by the initiation of a mega vaccination drive with hopes of a robust recovery in the services sector and prospects for robu...

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Budget session of Parliament begins today with President's Address
Posted Date : 29-Jan-2021 , 09:29:07 am | Posted By CASANSAAR

The Budget Session of Parliament will begin today. The session will begin with the address of President Ram Nath Kovind to the members of both the Houses seated in three different locations for the first time. 144 members of Parliament will be seated in the Central Hall including the Council of M...

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Customary Halwa Ceremony kickstarts process of compilation Budget documents
Posted Date : 24-Jan-2021 , 08:48:12 am | Posted By CASANSAAR

Finance Minister Nirmala Sitharaman, Minister of State for Finance Anurag Thakur and senior officials of the finance ministry on Saturday participated in the symbolic 'Halwa Ceremony' that marks the beginning of compilation of budget documents. Unlike the past, the voluminous budget docum...

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Finance Ministry seeks ideas, suggestions and proposals for Annual Budget 2021-22
Posted Date : 14-Nov-2020 , 10:49:29 am | Posted By CASANSAAR

The Ministry of Finance has sought ideas, suggestions and proposals for the Annual Budget 2021-22. Over the years, the Ministry of Finance has been holding pre-budget consultations in North Block with Industry and Commerce Associations, Trade Bodies and Experts to seek ideas for the Annual Budget.&n...

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Budget 2020 - Individuals can switch tax regime every year
Posted Date : 06-Feb-2020 , 09:56:31 am | Posted By CASANSAAR

Taxpayers can switch back and forth between the existing income tax regime and the new one that offers lower slabs without exemptions, said the Central Board of Direct Taxes (CBDT) chairman PC Mody. However, business owners won’t have this option. “Let it be very clearly noted that th...

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Analysis of Union Budget 2020 - Direct Tax Proposals
Posted Date : 03-Feb-2020 , 09:29:38 am | Posted By CASANSAAR

Analysis of Union Budget 2020 - Direct Tax Proposals by CA. Kapil Goel with  CA. Vivek Khurana. Watch this Video. https://youtu.be/kRENebrlMkQ ...

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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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