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Sops and imposts in Budget; net revenue gain of <strong>Rs</strong> 41,440 <strong>crore</strong>

Sops and imposts in Budget; net revenue gain of Rs 41,440 crore

16 Mar 2012

In a mix of sops and imposts, the General Budget on Friday proposed a marginal raise in income tax exemption limit of Rs 20,000 but hiked service tax and standard excise duty by 2 per cent across the board to net an additional Rs 41,440 crore a year.

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Agriculture credit target increased by <strong>Rs</strong> 1 lakh <strong>Crore</strong> for 2012-13

Agriculture credit target increased by Rs 1 lakh Crore for 2012-13

16 Mar 2012

Finance Minister Pranab Mukherjee on Friday announced Rs 1,00,000 crore increase in the agriculture credit target to Rs 5,75,000 for the next fiscal and raised the outlay for farm sector by about Rs 3,000 crore.

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DoP deficit may dip 16% to <strong>Rs</strong> 5,309 <strong>crore</strong> in 2011-12: Eco Survey

DoP deficit may dip 16% to Rs 5,309 crore in 2011-12: Eco Survey

15 Mar 2012

The efforts of the government to revive the Department of Posts (DoP) seems to be bearing fruits as its deficit is likely to come down by over 16 percent to Rs 5,309.6 crore in 2011-12, the Economic Survey 2011-12 said on Thursday.

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Railways gets 'approval' for <strong>Rs</strong> 25,000 <strong>crore</strong> as gross budgetary support for 2012-13

Railways gets 'approval' for Rs 25,000 crore as gross budgetary support for 2012-13

02 Mar 2012

The cash-strapped railways is understood to have got an approval of Rs 25,000 crore as gross budgetary support (GBS) from Finance Ministry for the fiscal 2012-13.

GBS for 2012-13,   Railway budget,   gross budgetary support,   Railway Budget 2012-13 ,  
Luxury cars to become dearer by up to <strong>Rs</strong> 3 lakh

Luxury cars to become dearer by up to Rs 3 lakh

16 Mar 2012

Luxury cars will become more expensive by up to Rs 3 lakh as disappointed automakers such as Mercedes Benz and Audi deciding to pass on increased duties imposed in the Budget on Friday to consumers.

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Majority of staff expects tax exemption limit to <strong>Rs</strong> 3L: Survey

Majority of staff expects tax exemption limit to Rs 3L: Survey

11 Mar 2012

A majority of employees surveyed expect Finance Minister Pranab Mukherjee to increase the income tax exemption limit to Rs 3 lakh in the upcoming Budget, in line with rising inflation, Assocham has said.

Dainik Jagran business news,   Business news on Jagran post,   Expectation of hike in I-T exemption limit,   Latest on slab of tax-free income,   Latest on DTC,  
Parliamentary panel for hiking income tax exemption limit to <strong>Rs</strong> 3 lakh

Parliamentary panel for hiking income tax exemption limit to Rs 3 lakh

02 Mar 2012

In order to provide the much needed relief to people, a Parliamentary panel scrutinizing the Direct Taxes Code (DTC) Bill has suggested raising the income tax exemption limit to Rs 3 lakh and also hiking deduction on savings to Rs 2.5 lakh.

Dainik Jagran business news,   Business news on Jagran post,   IT exemption limit hike,   IT exemtion limit to 3 Lakhs,   Par Panel on IT limit,   latest on DTC,  
Raise service tax exemption for small units to <strong>Rs</strong> 25 lakh: CII

Raise service tax exemption for small units to Rs 25 lakh: CII

24 Feb 2012

Industry body CII has urged the government to raise service tax exemption limit for small units to Rs 25 lakh, from existing Rs 10 lakh, to maintain the growth momentum of the sector.

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Parliamentary Panel to discuss DTC; may suggest hiking IT exemption limit

Parliamentary Panel to discuss DTC; may suggest hiking IT exemption limit

16 Feb 2012

A Parliamentary panel will meet on Friday to discuss the report on the Direct Taxes Code (DTC) Bill, understood to have favoured raising I-T exemption limit to Rs 3 lakh.

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No need to file I-T returns if salary doesn't exceed <strong>Rs</strong> 5 lakh per year

No need to file I-T returns if salary doesn't exceed Rs 5 lakh per year

21 Feb 2012

Salaried employees earning up to Rs 5 lakh a year will not be required to file income tax returns from this year, says a Finance Ministry notification.

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