Ashish Dey
1 year ago
Union Budget 2017-18 highlights

a) Income between 2.5 lakh to 5 lakh to 5% instead of 10%; Surcharge of 10% for those whose annual income is Rs 50 lakh to 1 crore; Surcharge on Rs 1 crore or more remains unchanged.
b) Govt considering option to amend Negotiable Instruments Act to ensure that holders of dishonoured cheques get payment
c) Max amount political party can receive in cash donation will be Rs 2000 from any one source

Political parties will be entitled to recieve donations by cheque or digital mode

Additional step amendment proposed to RBI act to enable issuance of electoral bonds in accordance to scheme by GOI. Donor could purchase bonds from authorised banks. Redeemable only in registered accounts of party.
d) No cash transcations above Rs 3 lakh
e) A proposal to receive all government receipts beyond a certain threshold through e-modes under consideration
f) Basic customs duty on LNG to be reduced from 5% to 2.5%
g) Tax rate for companies with an annual turnover up to 50 crores to be reduced to 25%, to strengthen MSME sector
h) No service charges on IRCTC ticket

 

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