BUDGET 2015-16 INDIA PDF

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The Union Budget for has been announced by Mr Arun Jaitley, Union Minister for Finance, Government of India, in Parliament on. Credibility of Indian economy has been re-established in the last nine months. ➢ GDP growth in , projected to be between 8 to %. Key to Budget Documents PDF File Opens in a new window Union Budget of India. The Budget documents presented to Parliament comprise, besides the.


Budget 2015-16 India Pdf

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Union Budget Full text of FM Arun Jaitley's speech The credibility of the Indian economy has been re-established. The world is. Appendix C support for . Underlying cash balance ($b)(a) India is expected to become the. Union Budget An analysis. India. Union Budget An Insight. March 2, Prepared By: - , - ,. 6th Floor, DLF South Court.

Visas on arrival VoA to be increased to countries in stages. Proposal to introduce a public contracts resolution of disputes Bill to streamline the institutional arrangements for resolution of such disputes.

Proposal to introduce a regulatory reform Bill that will bring about a cogency of approach across various sectors of infrastructure. Skill India A national skill mission to consolidate skill initiatives spread accross several ministries to be launched.

An autonomous Bank Board Bureau to be set up to improve the governance of public sector bank. Made in India and the download and the Make in India policy are being carefully pursued to achieve greater self-sufficiency in the area of defence equipment including air-craft. The first phase of GIFT to become a reality very soon.

The requirements for expenditure on defence, internal security and other necessary expenditures are adequately provided. Fiscal deficit will be 3. Tax Proposal Objective of stable taxation policy and a non-adversarial tax administration. Efforts on various fronts to implement GST from next year.

No change in rate of personal income tax. Proposal to reduce corporate tax from 30 per cent to 25 per cent over the next four years, starting from next financial year. Rationalisation and removal of various tax exemptions and incentives to reduce tax disputes and improve administration.

Exemption to individual tax payers to continue to facilitate savings. Make in India Revival of growth and investment and promotion of domestic manufacturing towardsjob creation.

Rental income of REITs from their own assets to have pass through facility. Permanent Establishment PE norm to be modified to encourage fund managers to relocate to India. GAAR to apply to investments made on or after April 1, , when implemented.

Additional investment allowance 15 per cent and additional depreciation 35 per cent to new manufacturing units set up during the period April 1, to March 31, in notified backward areas of Andhra Pradesh and Telangana. Rate of income tax on royalty and fees for technical services reduced from 25 per cent to 10 per cent to facilitate technology inflow.

Benefit of deduction for employment of new regular workmen to all business entities and eligibility threshold reduced. Basic custom duty on certain inputs, raw materials, inter mediates and components in 22 items, reduced to minimise the impact of duty inversion. Proposal to reduce corporate tax from 30 per cent to 25 per cent over the next four years, starting from next financial year.

Rationalisation and removal of various tax exemptions and incentives to reduce tax disputes and improve administration.

Exemption to individual tax payers to continue to facilitate savings.

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Make in India Revival of growth and investment and promotion of domestic manufacturing towardsjob creation. Rental income of REITs from their own assets to have pass through facility.

Permanent Establishment PE norm to be modified to encourage fund managers to relocate to India. GAAR to apply to investments made on or after April 1, , when implemented. Additional investment allowance 15 per cent and additional depreciation 35 per cent to new manufacturing units set up during the period April 1, to March 31, in notified backward areas of Andhra Pradesh and Telangana.

Rate of income tax on royalty and fees for technical services reduced from 25 per cent to 10 per cent to facilitate technology inflow. Benefit of deduction for employment of new regular workmen to all business entities and eligibility threshold reduced. Basic custom duty on certain inputs, raw materials, inter mediates and components in 22 items, reduced to minimise the impact of duty inversion. SAD reduced on import of certain inputs and raw materials.

Excise duty on chassis for ambulance reduced from 24 per cent to Balance of 50 per cent of additional depreciation 20 per cent for new plant and machinery installed and used for less than six months by a manufacturing unit or a unit engaged in generation and distribution of power to be allowed immediately in the next year.

Union Budget

Applicability of indirect transfer provisions to dividends paid by foreign companies to their shareholders to be addressed through a clarificatory circular. Education cess and the Secondary and Higher education cess to be subsumed in central excise duty.

Specific rates of central excise duty in case of certain other commodities revised. Online central excise and service tax registration to be done in two working days.

Union Budget – NITI Aayog and Finance Commission Recommendations

Service tax plus education cesses increased from Excise duty on sacks and bags of polymers of ethylene other than for industrial use increased from 12 per cent to 15 per cent. Enabling provision to levy Swachh Bharat cess at a rate of 2 per cent or less on all or certain services, if need arises. Services by common affluent treatment plant exempt from Service-tax.

Concessions on custom and excise duty available to electrically operated vehicles and hybrid vehicles extended upto March 31, Yoga to be included within the ambit of charitable purpose under Section 2 15 of the Income-tax Act.

Union Budget Full text of FM Arun Jaitley's speech

Others Increase in basic custom duty: Total expenditure estimated to be rs. Vision for stable taxation policy and a non-adversarial tax administration. Fight against the scourge of black money to be taken forward.

Efforts on various fronts to implement GST from next year. No change in the rate of personal income tax. Rationalization and removal of various tax exemptions.

Incentives to reduce tax disputes and improve administration.

Exemption to individual taxpayers to continue to facilitate savings. Summary Despite the devolution of tax share to states, Indian Finance minister has done a decent job to stick to the standards of FRBM act.

UNION BUDGET

The budget shows ambitious targets with respect to revenue collection and various deficits, but often we have seen the Revised Estimates RE deviating a lot from the Budgetary Estimates BE. For a nation to progress, the government should invest in productive assets capital expenditure. Education and health are the two major areas where this government, like most previous governments, failed to give proper attention.In spite of the consequential reduced fiscal space for the Centre, the Government has decided to continue supporting important national priorities such as agriculture, education, health, MGNREGA, and rural infrastructure including roads.

Tax exemptions for middle class".

Though the Union Budget is essentially a Statement of Account of public finances, it has historically become a significant opportunity to indicate the direction and the pace of India's economic policy.

Transportation of agricultural produce to remain exempt from Service-tax.

Retrieved 19 February I intend to begin this process this year by setting up a Public Debt Management Agency PDMA which will bring both India's external borrowings and domestic debt under one roof. I am glad to announce that the first phase of GIFT will soon become a reality.

Time limit for taking CENVAT credit on inputs and input services is being increased from six months to one year as a measure of business facilitation.

However, in the case of petrol and diesel such specific rates are being revised only to the extent of subsuming the quantum of education cess presently levied on them, keeping the total incidence of excise duties unchanged.