BUDGET HIGHLIGHTS<\/strong>:<\/p>\n-Corporate Tax Rate reduced to 25% for over next four years<\/p>\n
-Exemptions For Individual Tax Players To Continue<\/p>\n
-Yoga to be included as Charitable Purpose<\/p>\n
-To Enact New Law For Black Money<\/p>\n
-Concealment of income will attract 10 yrs of rigorous imprisonment<\/p>\n
-Stringent penalties and jail for Black Money holders and evaders<\/p>\n
-Benami property transaction bill to tackle black money transaction in real estate soon<\/p>\n
-Foreign Exchange Management Act To Allow For Seizure Of Foreign Assets<\/p>\n
-FEMA Act to be amended to incorporate Black Money provisions: Finance Minister<\/p>\n
-To Allow Tax Pass-through For Alternative Investment Funds<\/p>\n
-To Tighten Reporting Of Cash Transactions<\/p>\n
-To Have Benami Transaction Prohibition Bill For Domestic Black Money<\/p>\n
-Quoting PAN a must for all purchases above One Lakh<\/p>\n
-100% deduction allowed for all contributions in Swachh Bharat Abhiyan [except contribution in CSR]<\/p>\n
-Proposes to rationalise capital gains tax regime for real estate investment trusts<\/p>\n
-To defer GAAR by 2 years<\/p>\n
-Tax pass through to be allowed in alternative investment funds to boost small firms, startups<\/p>\n
-Propose To Rationalise Capital Gains Regime For REITs\/InvITs<\/p>\n
-TO reduce Custom Duty on 22 items<\/p>\n
-Rental Income from REITS to have pass through facility<\/p>\n
-Income Tax On Royalty Fees For Technical Reduced To 10%<\/p>\n
-To abolish Wealth Tax;<\/p>\n
2% Addl. Surcharge on Super Rich.<\/p>\n
-Reduced taxes on Technical Services to 10% from 25%<\/p>\n
-Tax reduce for foot wear above 1k per pair<\/p>\n
-Service Tax increased to 14%<\/p>\n
-80D Health insurance 15000 to 25000
\n For senior citizens 30000<\/p>\n
-80DDB increased to 80000<\/p>\n
-Wealth Tax abolished<\/p>\n
-Tax on royalty income decrease from 25% to 10%<\/p>\n
-Transport Allowance exemption increased to 1600 pm<\/p>\n
-Domestic Transfer Pricing limit increased from 5crores to 20 crores<\/p>\n","protected":false},"excerpt":{"rendered":"
The Finance Bill 2015, as introduced in the Lok Sabha today, 28.02.2015, is available for download<\/p>\n
Read more ›<\/a><\/div>\n<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1,7],"tags":[],"class_list":["post-3669","post","type-post","status-publish","format-standard","hentry","category-all-information","category-others"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/posts\/3669","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/comments?post=3669"}],"version-history":[{"count":0,"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/posts\/3669\/revisions"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/media?parent=3669"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/categories?post=3669"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/tags?post=3669"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}