Tax Clearance Certificate Mandatory for Indians before Leaving India
Posted Date : 26-Jul-2024 , 02:40:31 am | Posted By CASANSAAR
The Budget has made the rules stricter for obtaining clearance certificates, which are needed to leave India. Starting October 1, anyone living in India will need a clearance certificate confirming they are clear under the Black Money Act.
According to section 230 of the Income-tax (I-T) Act, any...
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FAQs issued by CBDT on the new capital gains tax regime proposed in the Budget 2024
Posted Date : 25-Jul-2024 , 08:33:09 am | Posted By CASANSAAR
FREQUENTLY ASKED QUESTIONS (FAQs)
Q1. What are the major changes brought about in the taxation of capital gains by the Finance (No.2) Bill, 2024?
Ans. The taxation of capital gains has been rationalised and simplified. There are 5 broad parameters to this rationalisation ...
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Union Budget 2024 - Capital Gains Taxation Simplified and Rationalised
Posted Date : 23-Jul-2024 , 03:52:55 pm | Posted By CASANSAAR
Simplification and Rationalization of the Capital Gains Tax was one of the key focus areas of the Union Budget 2024-25, presented by the Union Finance and Corporate Affairs Minister Smt. Nirmala Sitharaman in the Parliament today.
As proposed by Smt. Sitharaman, short term gains on ce...
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Union Budget 2024 - Govt Makes New Tax Regine More Attractive
Posted Date : 23-Jul-2024 , 05:21:07 am | Posted By CASANSAAR
Several attractive benefits to provide tax relief to salaried individuals and pensioners opting for the new tax regime were announced by the Union Finance and Corporate Affairs Minister Smt. Nirmala Sitharaman while presenting the Union Budget 2024-25 in the Parliament today.
Finance Minister p...
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Summary of the Union Budget 2024-2025
Posted Date : 23-Jul-2024 , 03:45:41 pm | Posted By CASANSAAR
PART A
Despite global economy remaining under the grip of policy uncertainties, India’s economic growth continues to be the shining exception and will remain so in the years ahead. Minister of Finance and Corporate Affairs Smt Nirmala Sitharaman, while presenting the Union Budget 2024-25 in...
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Highlights of the Union Budget 2024-25
Posted Date : 23-Jul-2024 , 03:43:58 pm | Posted By CASANSAAR
The Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman presented the Union Budget 2024-25 in Parliament today. The highlights of the budget are as follows:
Part-A
Budget Estimates 2024-25:
Total receipts other than borrowings: `32.07 lakh crore.
Total expenditure: `4...
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Union Budget 2024 - FM Nirmala Sitharaman's record seventh Budget today
Posted Date : 23-Jul-2024 , 08:12:16 am | Posted By CASANSAAR
Finance minister Nirmala Sitharaman is set to present the Union Budget 2024-25 today after tabling the Economic Survey. The Union Budget will be presented in Parliament at 11am- making it the first budget of Prime Minister Narendra Modi's third term.
This will be Nirmala Sitharaman&rsqu...
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FM Nirmala Sitharaman to Present Union Budget on July 23
Posted Date : 06-Jul-2024 , 06:48:15 am | Posted By CASANSAAR
Union Parliamentary Affairs Minister Kiren Rijiju announced on Saturday (July 6) that Parliament's Budget Session is set to begin on July 22, 2024, and will run until August 12, 2024.
Taking to X (formerly Twitter), he also announced the date for the presentation of the budget, i.e., on...
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Interim Budget Proposes to retian Tax Rates for Direct and Indirect Taxes
Posted Date : 02-Feb-2024 , 08:47:52 am | Posted By CASANSAAR
“Keeping with the convention, I do not propose to make any changes relating to taxation and propose to retain the same tax rates for direct taxes and indirect taxes including import duties,” said the Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman, whi...
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Highlights of the Interim Union Budget 2024-25
Posted Date : 02-Feb-2024 , 08:46:08 am | Posted By CASANSAAR
With the ‘mantra’ of ‘Sabka Saath, Sabka Vikas, and Sabka Vishwas’ and the whole of nation approach of “Sabka Prayas”, the Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman presented the Interim Union Budget 2024-25 ...
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FM Nirmala Sitharaman Takes Part In Pre-Budget Halwa Ceremony
Posted Date : 25-Jan-2024 , 08:53:11 am | Posted By CASANSAAR
Nirmala Sitharaman participated in the pre-budget halwa ceremony. The traditional 'halwa ceremony', marking the final stage of the preparation process for interim Union Budget 2024, was held this evening at the Union Finance Ministry headquarters at North Block in Delhi. Union Finance Minist...
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Summary of Union Budget 2022-23
Posted Date : 01-Feb-2022 , 01:34:33 pm | Posted By CASANSAAR
India’s economic growth in the current year is estimated to be 9.2 per cent, highest among all large economies. The overall, sharp rebound and recovery of the economy from the adverse effects of the pandemic is reflective of our country’s strong resilience. This was stated by Union Minis...
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Key Highlights of the Union Budget 2022-23
Posted Date : 01-Feb-2022 , 01:32:59 pm | Posted By CASANSAAR
The Union Budget seeks to complement macro-economic level growth with a focus on micro-economic level all inclusive welfare. The Union Minister for Finance & Corporate Affairs, Smt Nirmala Sitharaman tabled the Union Budget 2022-23 in Parliament today.
The key highlights of the budget are as ...
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Economic Survey for the year 2021-22 to be tabled in Parliament today
Posted Date : 31-Jan-2022 , 09:30:39 am | Posted By CASANSAAR
The Budget Session of Parliament begins today. Economic Survey 2021-22 will also be tabled today.
Finance Minister, Nirmala Sitharaman, will present the Union Budget for the year 2022-2023 tomorrow in the Lok Sabha and its copy will be laid on the Table of the Rajya Sabha soon thereafte...
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Budget Session of Parliament begins with President's joint address to both Houses at 11 AM
Posted Date : 31-Jan-2022 , 08:53:45 am | Posted By CASANSAAR
The Budget Session of Parliament begins today. The session will commence with President Ram Nath Kovind's address to both the Houses of Parliament assembled together at 11 AM in Central Hall. After that, the copy of the President's address will be tabled in both the Houses. Economic Survey 2...
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Budget session of Parliament to commence on 31st January
Posted Date : 15-Jan-2022 , 09:21:27 am | Posted By CASANSAAR
The budget session of Parliament will commence on January 31. The first half of the budget session will run from January 31 to February 11. It will reassemble on March 14 to sit until 8th of April subject to exigencies of government business. The government will present the Budget for fiscal year 20...
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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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