: Budgets Update

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1. Disinvestment in Loss making unit

2. Allocating 5300 cr for Micro irrigation

3. Tax free infra bonds in Rail, Roads

4. Rural infrastructure to be 2500 cr

5. Suraksha Bima Coverage to give coverage of 2 lac by premium of 12 each year

6. Housing for all to be implemented by 2022

7. GST to be put in place by 01.04.2016

8. Direct Cash transfer of subsidy to 1.1 lac crore

9. Banking the unbanked, funded the unfunded

10. Propose to introduce Gold Monetisation scheme

11. Job scheme for minority youth without school certificate

12. Less paper work for e-commerce projects

13. Proposed Gold bond instead of purchasing Gold as metal

14. Rs.34699 cr allocated to Manrega

15. Rs. 25000 cr for rural infrastructure

16. Initial sum of Rs. 150 cr to create IT hub

17. Govt to allocate Rs. 75 cr to electric vehicles

18. Another Rs. 1000 cr to Nirbhaya fund for Mahila Suraksha

19. New AIMS to be setup in J&K, Punjab, Tamilnadu, Assam, Bihar

20.Rs.68960 for education and mid-day meals

21.  Reduce corporate tax rate to 25% from 30%.over next 4 years

22. Cut down the various exemptions

23. New law for Black Money

24.10 year punishment for black money

25. Non filling of return punishable now.

26. Foreign assets hold and not disclosed is punishable now

27. Applicability of GAAR deferred till 2017

28. Wealth Tax abolished and 2% additional surcharge on super Rich imposed

29. Exemption of individual tax payer to continue

30. Pan mandatory for any sale exceeding 1 lac

31. Penalty for evaders will be 10 years in jail

32. Benami property will face more tax heat

33.100% deduction in contribution to swachh abhiyan

34. Transport allowance exemption limit increases from 800 to 1600 per month

35. Excise duty now raised by 12.50%

36. Tax rebate in health insurance now 25000 instead of 15000

37. Service tax enhanced to 14%

38. Mediclaim for senior citizen now 30000

39. Mat rules to be rationalized for FIIs

40. No changes in tax slab for individual

41. Income tax on Royalty cut to 10%

42. Total subsidy would be in f.y2015-16 of Rest. 2.27 lac crore

43. Leather footwear will be cheaper

41. Income tax on Royalty cut to 10%

42. Total subsidy would be in f.y2015-16 of Rs. 2.27 lac crore

43. Leather footwear will be cheaper

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SANJAY DEWAN

B.COM (H),FCA

FCMA,LCS,MIMA

www.sanjaydewan.com