Union Budget 2018

[Bapun]

Income tax relief soon? Deduction may be raised to Rs 2.5 lakh | india-news | Hindustan Times

The current relief for income tax is Rs 2 lakh and discussions are on to increase it to at least Rs 2.5 lakh, government officials said.

 

[Bapun]

https://twitter.com/x/status/954665026727460864

Source

 

[Digital Mastermind]

Wow! Govt ends unnecessary salary hike of MPs.
New law to review every 5 year when in need (as per economy)

 

[iphifi]

* No changes in tax slabs for the salaried class this year.
* Companies with turnover less than Rs 250 crore to be taxed at reduced rate of 25 per cent (Other remain at 30%)
* Govt will launch health scheme to cover 10 crore poor families
* Standard deduction of Rs 40,000 for salaried employees in lieu of transport and medical expenses
* Mobile phones set to become costlier as custom duty on them has been increased to 20 per cent.
* Health and education cess has been increased to 4 per cent.
* Allocates Rs 11,000 crore Mumbai rail network and Rs 17,000 crore for the Bengaluru metro
* For senior citizens, exemption of interest income on bank deposits raised to Rs 50,000
* Long term capital gains exceeding Rs 1 lakh at 10 per cent taxation without indexation (Bad for long term investors)
* Budget allocates money for social security and protection programme for all widows and orphaned children.
* MSP of agricultural products at 1.5 times the production cost.
* Govt of India will take necessary measures to put in place measures for the state government to purchase surplus solar power produced by local farmers at sutiable prices.
* Government will take all steps to eliminate use of cryptocurrencies which are funding illegitimate transactions.
* National Heritage City Development Augmentation Scheme has been undertaken to preserve and protect heritage cities in the country, announces the Finance Minister.
* All railways stations with footfall more than 25,000 to have escalators, says the Finance Minister.
* AADHAAR FOR CORPORATES? Govt will evolve a scheme to assign a Unique ID for cos.
* Social welfare surcharge of 10% on imported goods.
* Govt earmarks Rs 150 cr to commemorate 150 years of birth of Mahatma Gandhi

More Highlights here: Key highlights of Budget 2018-19: Jaitley introduces world's largest govt-funded health scheme - Times of India

 

[vinit]

Below average budget :verysad::verysad::verysad::verysad::angry:

 

[rahul1117kumar]

Budget 2018: Government proposes levying customs duty on imported smartphones

That iPhone that you plan to get from the US may cost you dearer this year as the government has proposed levying a customs duty on mobile phones and their parts and accessories to promote Make in India.

“I propose to increase customs duty from 15 percent to 20 percent on mobile phones…and some other parts and accessories and televisions. This will promote more jobs in the country,” Finance Minister Arun Jaitley said on Thursday, as he presented the Budget for 2018-19.

Budget 2018: Government proposes levying customs duty on imported smartphones

 

[Sai Jai]

Can someone explain what is the need of hikeed President (1.5 -> 5L) , VP (1.25-> 4L) & Governor(1.10 -> 3.50L) salary ?? For doing hard work ??

Not increasing individual Person income tax slab from 2.5L ?? For giving economy to our country ??

 

[Sai Jai]

Telecom companies disappointed with no levy cut in Budget 2018

 

[Varunkfdd]

This is due to overconfidence of NDA government that they will win win in 2019 election that is why they didn't provide any relief to people(rather increased burden)

 

[id_866]

What's status of last budget schemes?Every year new scheme new funds allocated.noone asks last year status.