Pay commission award budgeted for in ministries allocations: Government With absence of an explicit overall provision for the Seventh Pay Commission in Budget raising questions, government today said the once-in-a-decade pay hike has been built in as interim allocation for different ministries and Budget numbers were credible. The voluminous Budget documents state that … [Read more...] about Pay commission award budgeted for in ministries allocations: Government
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budget 2016
Union budget 2016-17 and 7th CPC demands
Union budget 2016-17 and 7th CPC demands “Main consideration in the private and public sector being ‘profit’, and in Central Government it is “service” even through Railways, Income Tax & Central Excise are revenue earning departments, hence an equal comparison with the Government is not going to be ever possible. Performance for the Government is usually not measured in … [Read more...] about Union budget 2016-17 and 7th CPC demands
Key Features of Budget 2016-2017 : Official pdf Download
Key Features of Budget 2016-2017 INTRODUCTION : Growth of Economy accelerated to 7.6% in 2015-16 CHALLENGES IN 2016-17 : Risks of further global slowdown and turbulence. ROADMAP & PRIORITIES : ‘Transform India’ to have a significant impact on economy and lives of people AGRICULTURE AND FARMERS’ WELFARE : Allocation for Agriculture and Farmers’ welfare is Rs. … [Read more...] about Key Features of Budget 2016-2017 : Official pdf Download
House Rent Paid : 80GG has also been raised to 60,000 from 24,000
House Rent Paid : 80GG has also been raised to 60,000 from 24,000 The limit of deduction of house rent paid under section 80GG has also been raised to Rs. 60,000 from the existing Rs. 24,000 per annum to give relief to employees who live in rented houses. Certain Tax Reliefs announced for small tax payers and others While presenting the General Budget 2016-17 in Lok … [Read more...] about House Rent Paid : 80GG has also been raised to 60,000 from 24,000
Budget 2016: Jaitley Cuts Down 54% Ministers Travel Expenses
Budget 2016: Jaitley Cuts Down 54% Ministers Travel Expenses The travel and other expenses of Union Ministers have been slashed by a whopping 54 per cent in the 2016-17, according to the Budget proposals presented by Finance Minister Arun Jaitley today in Parliament. The budget estimates, the amount allocated under the head of ‘Tour Expenses’ has been fixed at … [Read more...] about Budget 2016: Jaitley Cuts Down 54% Ministers Travel Expenses
Limit of Deduction of Rent Increased from Rs.24,000 to Rs.60,000
Limit of Deduction of Rent Increased from Rs.24,000 to Rs.60,000 100% Deduction of Profits for 3 out of 5 Years for Start-Ups Withdrawal upto 40% of the Corpus to be Tax-Free at the time of Retirement Deduction of Additional Interest of Rs.50,000 Per Annum for First-Time Home buyers New Dispute Resolution Scheme to be Introduced Thirteen Cesses Levied by Various … [Read more...] about Limit of Deduction of Rent Increased from Rs.24,000 to Rs.60,000
Highlights of General Budget 2016
Highlights of General Budget 2016 Union Finance Minister Shri Arun Jaitley spoke on the Key Reform Measures in his Budget speech 2016-17 1. The Government is firm on its course towards fiscal consolidation without compromising on its development agenda. 3.5% fiscal deficit is targeted for FY 2017. 2. Total allocation for Agriculture, Farmers’ welfare and Irrigation set … [Read more...] about Highlights of General Budget 2016
Union Budget 2016-17: I-T slabs remain unchanged
Union Budget 2016-17: I-T slabs remain unchanged HRA deduction increased to Rs. 60,000 per annum; 40% of withdrawal under NPS to be tax exempt; additional exemption for housing loans. Finance Minister Arun Jaitley presents his third Union Budget. With an eye on supporting the small tax-payer and the small investor, the Minister announced a slew of schemes, and income tax … [Read more...] about Union Budget 2016-17: I-T slabs remain unchanged
Budget 2016 expectations: From OROP, 7th Pay Commission overhang to sectoral impact, here are 10 points to note
Budget 2016 expectations: From OROP, 7th Pay Commission overhang to sectoral impact, here are 10 points to note 1. The FM's priority in the 2016-17 budget will be higher growth, with fiscal rectitude, we believe. With the private sector capex yet to pick up, he will budget for higher plan capital expenditure (investments), in addition to the higher spends on OROP and 7th Pay … [Read more...] about Budget 2016 expectations: From OROP, 7th Pay Commission overhang to sectoral impact, here are 10 points to note
Government may hike service tax to 16%: Budget 2016
Government may hike service tax to 16%: Budget 2016 To shore up its revenues in order to spend more, the government may increase service tax to 16 percent from the current 14 percent, a move that would make many services costlier, according to a report by business news channel CNBC-TV18. “In addition to the Swachh Bharat Cess of 0.5 percent already levied, sources say … [Read more...] about Government may hike service tax to 16%: Budget 2016
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