Major Takeaways - Budget 2018

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ajor Takeaways - Budget 2018<br>By: - CSSwati Rawat<br>Income Tax<br>Dated:- 1-2-2018<br><br>Direct Tax - Farmer producer companies will get 100% exemption for 5 years - New employees cost deduction....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... rationalized for 1st year of employment - Companies with turnover upto 250 Crore will have 25% tax rate - &#8377; 40000 standard deduction allowed to salaried employees - Interest on FDs limit rai....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....sed to &#8377; 50000 for senior citizen - Senior Citizen Medical Insurance limit raised to &#8377; 50000 - Critical illness expenditure limit also increased to &#8377; 1 lakh for senior citizen - L....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ong Term Capital Gain above &#8377; 1 lakh in a year on listed equity shares will be taxed at 10%. Such gains upto 31.01.18 exempted - Tax on Growth oriented Mutual Fund distributing Dividend - Tota....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....l Cess on Income Tax is now 4% - Electronic Assessment introduced Indirect Tax (Non-GST) - Custom duty on mobile phones and accessories increased - Educational Cess on some goods reduced - Certai....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....n changes in procedural part of Customs<br> Scholarly articles for knowledge sharing by authors, experts, professionals ....