Budget highlights on tax
Updated: Jul 10, 2014 01:37:33pm
New Delhi, Jul 10 (KNN)
· Hikes Excise Duty On Gutka To 70 per cent From 60 per cent
· To Expand Horizon Of Service Tax
· To increase custom duty on imported flat roll steel
· Customs duty on some wind power equipment cut to 5 per cent
· 10 per cent Customs Duty On Some Telecom Products
· To hike excise duty on cigarettes by 11-72 per cent
· 10 per cent customs duty on some telecom products
· To Cut Excise Duty On Packaging Machinery To 6 per cent
· Hike Excise Duty On Cigarettes
· To Increase Custom Duty On Imported Flat Roll Steel
· To Reduce Excise Duty On Footwear
· To rationalise customs duty on all grades of coal to 2.5 per cent
· Customs Duty On Some Wind Power Equipment Cut To 5 per cent
· Export Duty On Bauxite Hiked To 20 per cent From 10 per cent
· To Cut Customs Duty On LCD, LED Panels Sub-19 Inch To Nil
· To Rationalise Customs Duty On All Grades Of Coal To 2.5 per cent
· Cut Basic Customs Duty On Methyl Alcohol To 5 per cent
· To reduce excise duty on footwear
· To Cut Basic Customs Duty On Some Petchems
· To cut excise duty on food processing to 6 per cent
· To Increase Custom Duty On Imported Flat Roll Steel
· Basic Customs Duty On Crude, Naphthalene Cut To 5 per cent Vs 10 per cent
· 3-year extension on 80 1A policy until March 2017
· Education Cess On Imported Electronic Products
· To up cap gains tax cut- MFs to 36 months
· To Review DTC
· 60 more Ayakar Sewa Kendras to be set up in the country
· To Increase Cap Gains Tax Cut-Off For Eq MFs To 36 Months
· Impact Of Direct Tax Proposals At Rs 22,200 Cr
· No Changes In Surcharge Rates For Direct Tax
· To Hike Tax Rate To 20 per cent For Transfer For MF Units
· FY15 Revenue deficit at 2.9 per cent
· Investment allowance of 15 per cent on investment of over Rs 25 cr in mfg
· To Introduce Range Concept In Transfer Pricing
· To Retain 15 per cent Tax Rate On Intl Dividend Income
· To extend 10-year tax holiday for power
· Income From Portfolio Invst To Be Capital Gains
· No Changes In Surcharge Rates For Direct Tax
· Education CESS To Continue At 3 per cent
· Exemption For Self-Occupied Homes Raised To Rs 2 Lk
· 80C exemption limit increased to Rs 1.5 LK
· To Up Personal Income Tax Exemption To Rs 2.5 Lk
· No changes in surcharge
· Tax exemption limit for small and marginal and senior taxpayers changed to 250,000 rupees from 200,000 rupees
· Tax exemption limit for senior citizens changed to 300,000 rupees from 250,000 rupees
· Investment limit under Section 80C to be increased to 150,000 rupees
· PPF account investment limit raised to 150,000 rupees
· Tax exemption increased to Rs 3 lk for senior citizens
· No Changes In Tax Rates
· No Changes In Tax Rates
· Non-tax Revenue At Rs 2.12 Lk Cr In FY15
· Revenue deficit to be 2.9 per cent IN FY15
· Fiscal deficit to be 4.5 per cent of GDP
· Total Expenditure At Rs 17.9 Lk Cr In FY15
· Plan Expenditure At Rs 5.75 Lk Cr For FY15
· Non-plan Expenditure At Rs 12.2 Lk Cr (KNN)
· Hikes Excise Duty On Gutka To 70 per cent From 60 per cent
· To Expand Horizon Of Service Tax
· To increase custom duty on imported flat roll steel
· Customs duty on some wind power equipment cut to 5 per cent
· 10 per cent Customs Duty On Some Telecom Products
· To hike excise duty on cigarettes by 11-72 per cent
· 10 per cent customs duty on some telecom products
· To Cut Excise Duty On Packaging Machinery To 6 per cent
· Hike Excise Duty On Cigarettes
· To Increase Custom Duty On Imported Flat Roll Steel
· To Reduce Excise Duty On Footwear
· To rationalise customs duty on all grades of coal to 2.5 per cent
· Customs Duty On Some Wind Power Equipment Cut To 5 per cent
· Export Duty On Bauxite Hiked To 20 per cent From 10 per cent
· To Cut Customs Duty On LCD, LED Panels Sub-19 Inch To Nil
· To Rationalise Customs Duty On All Grades Of Coal To 2.5 per cent
· Cut Basic Customs Duty On Methyl Alcohol To 5 per cent
· To reduce excise duty on footwear
· To Cut Basic Customs Duty On Some Petchems
· To cut excise duty on food processing to 6 per cent
· To Increase Custom Duty On Imported Flat Roll Steel
· Basic Customs Duty On Crude, Naphthalene Cut To 5 per cent Vs 10 per cent
· 3-year extension on 80 1A policy until March 2017
· Education Cess On Imported Electronic Products
· To up cap gains tax cut- MFs to 36 months
· To Review DTC
· 60 more Ayakar Sewa Kendras to be set up in the country
· To Increase Cap Gains Tax Cut-Off For Eq MFs To 36 Months
· Impact Of Direct Tax Proposals At Rs 22,200 Cr
· No Changes In Surcharge Rates For Direct Tax
· To Hike Tax Rate To 20 per cent For Transfer For MF Units
· FY15 Revenue deficit at 2.9 per cent
· Investment allowance of 15 per cent on investment of over Rs 25 cr in mfg
· To Introduce Range Concept In Transfer Pricing
· To Retain 15 per cent Tax Rate On Intl Dividend Income
· To extend 10-year tax holiday for power
· Income From Portfolio Invst To Be Capital Gains
· No Changes In Surcharge Rates For Direct Tax
· Education CESS To Continue At 3 per cent
· Exemption For Self-Occupied Homes Raised To Rs 2 Lk
· 80C exemption limit increased to Rs 1.5 LK
· To Up Personal Income Tax Exemption To Rs 2.5 Lk
· No changes in surcharge
· Tax exemption limit for small and marginal and senior taxpayers changed to 250,000 rupees from 200,000 rupees
· Tax exemption limit for senior citizens changed to 300,000 rupees from 250,000 rupees
· Investment limit under Section 80C to be increased to 150,000 rupees
· PPF account investment limit raised to 150,000 rupees
· Tax exemption increased to Rs 3 lk for senior citizens
· No Changes In Tax Rates
· No Changes In Tax Rates
· Non-tax Revenue At Rs 2.12 Lk Cr In FY15
· Revenue deficit to be 2.9 per cent IN FY15
· Fiscal deficit to be 4.5 per cent of GDP
· Total Expenditure At Rs 17.9 Lk Cr In FY15
· Plan Expenditure At Rs 5.75 Lk Cr For FY15
· Non-plan Expenditure At Rs 12.2 Lk Cr (KNN)
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