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Arun Jaitley who has announced a host of steps to boost manufacturing and real estate sectors, said if there is an environment of paralysis and policies are not reforming, the investor does not feel enthused enough to invest there. (PTI)
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Budget 2016: On expenditure side, the biggest component is states share of taxes and duties with 23 paise followed by interest payment with 19 per cent. Defence allocation has been reduced to 10 paise compared with 11 paise in the current fiscal. (PTI)
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6. Income tax exemption limit: 5-Yr post office time deposit (POTD) scheme – POTDs are similar to bank fixed deposits. Although available for varying time duration like one year, two years, three years and five years, only 5-Yr post-office time deposit (POTD) qualifies for tax saving under section 80C. The Interest is entirely taxable.
Budget 2016: On indirect tax front, the government will earn 21 paise from excise and customs against 19 paise in the current fiscal year. The government intends to earn 13 paise from non-tax revenue like disinvestment while it plans to mobilise 3 paise from non-debt capital receipts. (PTI)
