Budget 2022: Tax for cooperative societies reduced | Full analysis
2 years, 10 months ago

Budget 2022: Tax for cooperative societies reduced | Full analysis

India TV News  

Highlights Cooperatives to pay alternate minimum tax and surcharge at reduced rate of 15% and 7% respectively Surcharge on long term capital gains arising from all assets capped at 15% Surcharge and cess on income and profits not allowed as business expenditure The Government, in order to provide a level playing field between co-operative societies and companies proposes to reduce the Alternate Minimum Tax rate for co-operative societies to 15 per cent from the current 18.5 per cent announced the Union Finance & Corporate Affairs Minister Nirmala Sitharaman while presenting the Union Budget 2022-23 in the Parliament today. She added that the Government also proposes to reduce the surcharge on co-operative societies to 7 per cent from 12 per cent at present for those having total income of more than Rs. Incentives to Newly Incorporated Manufacturing Entities Sitharaman said that to establish a globally competitive business environment, a concessional tax regime of 15 per cent tax was introduced by the Government for certain newly incorporated domestic manufacturing companies. The Government proposes to cap the surcharge on long term capital gains arising on transfer of any type of assets at 15 per cent.

Business Tax Income Surcharge Minister Cent Proposes  budget  income  cent  companies  analysis  business  provide  2022  societies  proposes  reduced  minister  tax  cooperative  surcharge  15

History of this topic

Budget 2024: Placing thrust on infrastructure
5 months ago

Budget 2024: Placing thrust on infrastructure

The Hindu  

Finance Minister Nirmala Sitharaman accelerated the government’s thrust on the crucial infrastructure sector in her seventh successive Budget presentation and the first of PM Modi’s third term. A massive expansion in urban housing at an investment of ₹10 lakh crore, a rural roads programme worth ₹26,000 crore are among the major features of the big infrastructure push. The Indian economy’s …

Budget 2024: How will it impact the common people and consumers? CHECK here
5 months ago

Budget 2024: How will it impact the common people and consumers? CHECK here

India TV News  

Budget 2024: Finance Minister Nirmala Sitharaman on Tuesday announced the Union Budget 2024-25, with nine outlined priorities in agriculture, employment and skilling, manufacturing and services, human resource development, urban development, energy security and more. Sitharaman announced Prime Minister Narendra Modi's package of five schemes for employment, skilling and other opportunities for employment, skilling and other opportunities for 4.1 crore youth …

Budget 2024: Income tax slabs changed, standard deduction increased. Read details
5 months ago

Budget 2024: Income tax slabs changed, standard deduction increased. Read details

Op India  

On Tuesday, Finance Minister Nirmala Sitharaman presented the Annual Financial Statement before the Lok Sabha. The Finance Minister has given relief to taxpayers who choose to opt for the New Tax regime as the tax slabs have been revised and the Standard deduction limit has been increased from Rs 50,000 to Rs 75,000. Personal Income Tax: The Union Finance Minister …

Budget 2024 HIGHLIGHTS: Andhra Pradesh, Bihar major gainers; special focus on jobs, new tax regime
5 months ago

Budget 2024 HIGHLIGHTS: Andhra Pradesh, Bihar major gainers; special focus on jobs, new tax regime

India TV News  

Uttar Pradesh CM Yogi Adityanath's reaction on Union Budget: "Under the guidance of PM Modi, in the new parliament of the country, the Finance Minister has laid down the general budget of the country which is - inclusive, development-oriented and one which will fulfil the aspirations of 140 cr people. The new tax slabs announced in the budget are welcoming." …

Major reforms expected by key sectors in Budget 2024, will it deliver?
5 months ago

Major reforms expected by key sectors in Budget 2024, will it deliver?

New Indian Express  

With the first Union Budget after the Lok Sabha elections all set to be unveiled, there are great expectations regarding major policy and tax reforms. These expectations include: A new subsidy scheme similar to FAME II with a more comprehensive coverage; Streamlining policies towards R&D efforts in battery technology and grid integration for development of a widespread and reliable charging …

Budget 2024: Will FM Nirmala Sitharaman fulfill your income tax wishes?
5 months ago

Budget 2024: Will FM Nirmala Sitharaman fulfill your income tax wishes?

India Today  

Finance Minister Nirmala Sitharaman is all set to present the full Budget 2024 on July 23. With various sectors anticipating significant announcements, salaried taxpayers are particularly hopeful for major income tax relief, including changes in the new income tax regime and standard deductions. Despite positive expectations for the budget, significant tax relief for the middle class may not materialise. Sandeep …

Budget 2024 Expectations: Will Nirmala Sitharaman announce tax relief?
5 months ago

Budget 2024 Expectations: Will Nirmala Sitharaman announce tax relief?

Hindustan Times  

July 19, 2024 11:59 AM IST Budget 2024 Expectations Live Updates: Rajat Agrawal - CEO - Barista Coffee, said, “The Indian retail sector stands at a critical juncture, seeking support from the Govt on various counts which renews consumer confidence. Tax Cuts: Planned Reduction in individual income tax rates, especially for middle-income earners, could boost disposable incomes and drive spending. …

Budget 2024: Finance minister Nirmala Sitharaman to increase income tax exemption limit?
6 months ago

Budget 2024: Finance minister Nirmala Sitharaman to increase income tax exemption limit?

Hindustan Times  

Finance Minister Nirmala Sitharaman may increase income tax exemption limit in the upcoming Budget 2024 which is the first for the third term of the PM Modi Government. News agency Reuters reported that the first full-fledged Budget 2024 of Modi 3.0 may relieve taxpayers as the government is considering reducing income tax rates for specific groups of individuals. The government …

PM Modi lauds role of cooperatives in farmers’ welfare
9 months, 4 weeks ago

PM Modi lauds role of cooperatives in farmers’ welfare

The Hindu  

Cooperatives have the potential to tackle the personal issues of farmers with collective strength, Prime Minister Narendra Modi said while inaugurating multiple key initiatives for the cooperative sector here on Saturday. The Prime Minister inaugurated the pilot project of “world’s largest grain storage plan” in cooperative sector, which is being done in 11 Primary Agricultural Credit Societies of 11 States. …

Decoding Budget 2023
1 year, 10 months ago

Decoding Budget 2023

The Hindu  

Finance Minister Nirmala Sitharaman on February 1 raised the personal income tax rebate limit, doled out sops on small savings, and announced one of the biggest hikes in capital spending in the past decade as she did a tightrope walk in the Budget between staying fiscally prudent and meeting public expectations in the year before general elections. Ms. Sitharaman’s fifth …

A Budget for All: Ahead of 2024 general elections, Modi sarkar gets it right
1 year, 10 months ago

A Budget for All: Ahead of 2024 general elections, Modi sarkar gets it right

Firstpost  

There’s something for everyone in the Union Budget 2023-24 – the poor, the tribals, and India’s women. Prime Minister Awas Yojana, which aims to provide affordable housing to the poor in urban areas, has been allocated a whopping Rs 79,950 crore, a 66 per cent rise from Rs 48,000 crore in the Financial Year 2022-23. In last year’s Budget, Rs …

Budget 2023 | Cooperative manufacturing units get sops
1 year, 10 months ago

Budget 2023 | Cooperative manufacturing units get sops

The Hindu  

Finance Minister Nirmala Sitharaman announced new initiatives for the cooperative sector in her 2023-24 Union Budget speech. Track latest Union Budget 2023 updates here She announced a higher limit of ₹2 lakh per member for cash deposits to and loans in cash by Primary Agricultural Cooperative Societies and Primary Cooperative Agriculture and Rural Development Banks adding that a higher limit …

First Budget Of Amrit Kaal Will Fulfil The Dreams Of Middle Class: PM Modi On Budget 2023
1 year, 10 months ago

First Budget Of Amrit Kaal Will Fulfil The Dreams Of Middle Class: PM Modi On Budget 2023

ABP News  

New Delhi: Prime Minister Narendra Modi on Wednesday reacted to the Union Budget 2023 tabled by the Finance Minister Nirmala Sitharaman in Parliament and said, that this year's budget will fullfill dreams of aspirational society including poor people, middle-class people, farmers. This budget will fulfil dreams of aspirational society including poor people, middle-class people, farmers," PM Modi said. This budget …

Budget 2023: ‘50-year interest-free loans for states to continue…’, says FM
1 year, 10 months ago

Budget 2023: ‘50-year interest-free loans for states to continue…’, says FM

Hindustan Times  

Finance Minister Nirmala Sitharaman on Wednesday announced that the Centre will continue 50-year interest-free loans to state governments for one more year. Budget 2023: ‘50-year interest-free loans for states to continue…’, says FM Check budget live updates here Presenting the Budget for 2023-24, she said the newly established infrastructure finance secretariat will assist in attracting more private investment. On October …

Budget 2023 | Government to continue 50-year interest-free loans to States for another year: FM Nirmala Sitharaman
1 year, 10 months ago

Budget 2023 | Government to continue 50-year interest-free loans to States for another year: FM Nirmala Sitharaman

The Hindu  

Finance Minister Nirmala Sitharaman on February 1 announced that the Centre will continue 50-year interest-free loans to State governments for one more year. Budget 2023 | Record allocation of ₹2.4 lakh crore for Railways On October 13 last year, Prime Minister Narendra Modi had launched the Gati Shakti - National Master Plan, aimed at developing integrated infrastructure to reduce logistics …

Budget 2023 live | Income tax relief, sops for women, scheme for artisans, and more
1 year, 10 months ago

Budget 2023 live | Income tax relief, sops for women, scheme for artisans, and more

The Hindu  

Finance Minister Nirmala Sitharaman on February 1 raised the personal income tax rebate limit, doled out sops on small savings and announced one of the biggest hikes in capital spending in the past decade as she did a tight rope walk in the Budget between staying fiscally prudent and meeting public expectations in the year before general elections. Ms. Sitharaman’s …

#Incometax trends on Twitter after Nirmala Sitharaman's Budget 2023 speech. Best memes
1 year, 10 months ago

#Incometax trends on Twitter after Nirmala Sitharaman's Budget 2023 speech. Best memes

India Today  

Finance Minister Nirmala Sitharaman presented the Union Budget 2023 in Parliament today. This year’s budget comes at a time when India’s economy faces challenges from a host of global factors; a steep rise in inflation and a possible GDP growth slowdown in the financial year 2024. However, the finance minister announced some relief for taxpayers as she proposed a new …

Budget 2023: Tax Cuts To Factory Incentives. Here's What To Watch For In Modi Govt's Final Full-Year Budget
1 year, 10 months ago

Budget 2023: Tax Cuts To Factory Incentives. Here's What To Watch For In Modi Govt's Final Full-Year Budget

ABP News  

The Union Budget, which will be tabled on Wednesday, will test the government’s resolve to stay fiscally prudent as expectations of lower taxes, wider social security net, and further boost to production gain steam before general elections in 2024. According to Bloomberg, Finance Minister Nirmala Sitharaman may tweak income-tax slabs to provide relief to the nation’s vast middle class and …

Budget 2023 Expectations LIVE Updates: FM Expected to Announce Tax Benefits for Salaried, Middle Class
1 year, 10 months ago

Budget 2023 Expectations LIVE Updates: FM Expected to Announce Tax Benefits for Salaried, Middle Class

News 18  

Budget 2023 Expectations: 'Healthcare Budget For Moving Towards Value-Based Care Model' Apurva Sule, Chief Business Officer, Heaps Health, said, “The National Health Authority, in its most recent announcement, plans to introduce a new system wherein the performance of the hospitals empaneled with the central flagship scheme Ayushman Bharat Pradhan Mantri Jan Arogya Yojana will be graded on value-based health care …

Budget 2023: Why govt should consider tax relief despite limited fiscal room
1 year, 11 months ago

Budget 2023: Why govt should consider tax relief despite limited fiscal room

India Today  

An incremental tax relief in the upcoming Union Budget 2023 could help the central government provide consumption support to the Indian economy in FY24 and shield it from the worsening financial environment in the West. Recently, global economic experts, including International Monetary Fund Deputy Managing Director Gita Gopinath, noted that an inflation-driven price shock could disrupt the lives of people …

Budget 2023: Local manufacturing likely to get huge boost amid global economic slowdown
1 year, 11 months ago

Budget 2023: Local manufacturing likely to get huge boost amid global economic slowdown

India Today  

The central government is working on a crucial plan to boost India’s GDP growth in FY24 to tackle the impact of the global economic slowdown that is likely to get worse. PLI allocation and incentive boost likely High-impact manufacturing sectors like electronics and IT hardware could get a significant top up in allocation under the PLI scheme, as per people …

Budget 2022: Tax benefits for startups will motivate youth to innovate, says PM Modi
2 years, 10 months ago

Budget 2022: Tax benefits for startups will motivate youth to innovate, says PM Modi

India TV News  

Highlights We have also provided tax benefits for startups in this budget, the prime minister saidhe provisions he provisions done for youth innovation and R&D will motivate our youngsters, he said He further said that the government is set to kickstart Ease of Doing Business 2.0 Prime Minister Narendra Modi on Wednesday said the tax benefits for startups in the …

Budget 2022: PM Modi to Talk About ‘People-Friendly’ Budget on Wednesday
2 years, 10 months ago

Budget 2022: PM Modi to Talk About ‘People-Friendly’ Budget on Wednesday

News 18  

Union Finance Minister Nirmala Sitharaman on Tuesday presented Budget 2022 and tabled the Finance Bill 2022 to the Parliament. And will do more.” After Sitharaman’s Budget speech, PM Modi called the Union Budget “people-friendly”. The Union Budget 2022-23 would also be available on the Mobile App after the process of Union Budget presentation. Watch Live Union Budget 2022 Here What …

Budget 2022: This budget drafted with vision of making a new India, says Tripura CM
2 years, 10 months ago

Budget 2022: This budget drafted with vision of making a new India, says Tripura CM

Firstpost  

Tripura chief minister Biplab Kumar Deb said that this budget is an embodiment of Prime Minister Narendra Modi’s promises to fulfil the aspiration of people Agartala: Tripura Chief Minister Biplab Kumar Deb on Tuesday hailed the Union Budget for the 2022-23 fiscal, asserting that it is an embodiment of Prime Minister Narendra Modi’s promises to fulfil the aspiration of people …

Budget 2022: No change in income tax slabs announced
2 years, 10 months ago

Budget 2022: No change in income tax slabs announced

India Today  

Finance Minister Nirmala Sitharaman, while presenting the Union Budget, did not announce any new changes in tax slabs for the personal income tax category. It was highly expected that some incremental changes would be introduced to the current income tax regime, but, no significant change was announced. Read: Budget 2022: What Nirmala Sitharaman said on income tax and return filing …

Income Tax Budget LIVE Updates: Cryptocurrency to be Taxed, No Change in Income Tax Slabs
2 years, 10 months ago

Income Tax Budget LIVE Updates: Cryptocurrency to be Taxed, No Change in Income Tax Slabs

News 18  

Income Tax Slabs, Budget 2022 LIVE Updates: Salaried middle class wants finance minister Nirmala Sitharaman to announce some populist measures in Union Budget 2022.?New provision Permitting tax payers to file an updated return on payment of additional tax, permitted up to two years,? The middle class taxpayers also expect an increase in Section 80C deduction under the Income Tax Act, …

LIVE: This Budget brings more infra, more growth and more jobs, says PM
2 years, 10 months ago

LIVE: This Budget brings more infra, more growth and more jobs, says PM

Business Standard  

Budget 2022 LIVE updates: Finance Minister Nirmala Sitharaman on Tuesday unveiled Budget 2022-23 that aims to boost growth amid continued disruption from Covid-19 and rising inflation. The government has projected GDP growth at 8 per cent to 8.5% compared with an estimated 9.2 per cent for the current fiscal year and a 6.6 per cent contraction the previous year. India …

Budget 2022: FM Sitharaman highlights 7 engines to drive PM Gati Shakti
2 years, 10 months ago

Budget 2022: FM Sitharaman highlights 7 engines to drive PM Gati Shakti

India TV News  

Budget 2022 News: Finance Minister Nirmala Sitharaman presented Union Budget 2022-23 on Tuesday, February 1. During her short and crisp Budget speech in Lok Sabha, FM Sitharaman seven engines that would drive the ambitious PM Gati Shakti Scheme. "PM Gati Shakti is driven by seven engines: roads, railways, airports, ports, mass transport, waterways, logistics infra. Sitharaman said that projects, supported …

More infrastructure, more investment, more growth, more jobs: PM Modi on Budget 2022
2 years, 10 months ago

More infrastructure, more investment, more growth, more jobs: PM Modi on Budget 2022

India TV News  

Highlights PM Modi said that Budget 2022 brings in new hopes and opportunities for the people Full of more infrastructure, more investment, more growth and more jobs, PM said on Budget Prime Minister informed that he will speak in detail on Budget at 11 am on Wednesday Prime Minister Narendra Modi on Tuesday said that Budget 2022 brings in new …

Budget 2022: 8 key tax-related expectations
2 years, 10 months ago

Budget 2022: 8 key tax-related expectations

India Today  

Finance Minister Nirmala Sitharaman is set to present her fourth Union Budget on Tuesday at a time when India’s economic recovery faces fresh challenges. Here are top expectations of taxpayers and corporates: DIRECT TAXES In the Union Budget 2022, 80C deduction available up to Rs 1.5 lakh a year should be revised upwards significantly. INDIRECT TAXES Rationalisation of Customs duty …

Union Budget 2022: From widening tax base to growth-related announcements, what we want from FM Sitharaman
2 years, 11 months ago

Union Budget 2022: From widening tax base to growth-related announcements, what we want from FM Sitharaman

Firstpost  

If India is going to break into the next generation of economic reform, there is a dire need for bold steps both on the expenditure and revenue sides In a season troubled by the third wave of the pandemic, with new variant Omicron, and excited by the forthcoming Assembly elections in five states, can we expect anything dramatic and path-breaking …

Union Budget 2022-23: Will govt take measures to boost farmers' income?
2 years, 11 months ago

Union Budget 2022-23: Will govt take measures to boost farmers' income?

India Today  

Finance Minister Nirmala Sitharaman is likely to announce incentives for the agriculture sector in the upcoming Union Budget 2022-23. The announcements, aimed at overall growth of the agricultural sector, may help boost farmers' income, reported The Economic Times. There are high chances that benefits will be extended to farmers and the overall agrarian community in the upcoming budget on February …

Modi 2.0: From foreign policy highlights to women's empowerment, how PM created milestones
3 years, 3 months ago

Modi 2.0: From foreign policy highlights to women's empowerment, how PM created milestones

Firstpost  

On the socio-political front, the historic step of abrogating Article 370, which came into effect in 1950, and Article 35A, which came into effect in 1954, figures high on the list of achievements “One of the most important things for any leader is to never let anyone else define who you are. Winning Bihar in 2020, despite a 15-year anti-incumbency, …

Union Budget 2021: Finance Ministry May Give Relief Up to Rs 80,000 in Total Tax Liability to Encourage Spending
3 years, 10 months ago

Union Budget 2021: Finance Ministry May Give Relief Up to Rs 80,000 in Total Tax Liability to Encourage Spending

News 18  

In order to put more money in the hands of the tax payer, the Finance Ministry is likely to provide tax relief of up to Rs 80,000 per annum in total tax liability. Sources informed CNBC-TV18 that on the basis of discussion during budget exercise there is strong possibility income tax payers may get relief between Rs 50,000 to Rs …

Union Budget 2021: Govt should introduce framework for fiscal consolidation of infra firms
3 years, 10 months ago

Union Budget 2021: Govt should introduce framework for fiscal consolidation of infra firms

Firstpost  

The promise of a Budget like ‘never before’ by the finance minister seems to be apt with the daunting task of addressing issues caused by COVID-19 pandemic i.e. While the government spend on infrastructure has taken a backseat due to the allocation of funds for the pandemic package, a new door has been opened by allowing insurance companies to fund …

PM Modi to Launch 'Transparent Taxation
4 years, 4 months ago

PM Modi to Launch 'Transparent Taxation

News 18  

Prime Minister Narendra Modi will on Thursday launch a new platform, "Transparent Taxation Honouring the Honest", which will carry forward the journey of direct tax reforms, an official statement said here. The Central Board of Direct Taxes has carried out several major tax reforms in direct taxes in the recent years, the statement pointed out. This includes bringing more transparency …

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