HIGHLIGHTS OF INDIAN UNION BUDGET 2019

TAX STRUCTURE

1. Within 2 years, Tax assessment will be done electronically

2. IT returns processing in just 24 hours.

3. Minimum 14% revenue of GST to states by Central Govt.

4. Custom duty has abolished from 36 Capital Goods.

5. Recommendations to GST council for reducing GST rates for home buyers.

6. Full Tax rebate upto 5 lakh annual income after all deductions.

7. Standard deduction has increase from 40000 to 50000.

8. Exempt on tax on second self-occupied house.

9. Ceiling Limit of TDS u/s 194A has increased from 10000 to 40000.

10. Ceiling Limit of TDS u/s 194I has increased from 180000 to 240000.

11. Capital tax Benefit u/s 54 has increased from investment in one residential house to two residential houses.

12. Benefit u/s 80IB has increased to one more year i.e. 2020

13. Benefit has given to unsold inventory has increased to one year to two years.

MISCELLANEOUS 

14. State share has increased to 42%.

15. PCA restriction has abolished from 3 major banks.

16. 2 lakhs seats will increase for the reservation of 10%.

17. 60000 crores for MANREGA.

18. 1.7 Lakh crore to ensure food for all.

19. 22nd AIIMS has to be opened in Haryana.

20. Approval has to be given to PM Kisan Yojana.

21. Rs. 6000 per annum has to be given to every farmer having upto 2 hectare land. Applicable from Sept 2018. Amount will be transferred in 3 installments.

22. National kamdhenu Ayog for cows. Rs. 750 crores for National Gokul Mission

23. 2% Interest Subvention for farmers pursuing animal husbandry and also create separate department for fisheries.

24. 2% interest subvention for Farmers affected by natural calamities and additional 3% interest subvention for timely payment.

25. Tax free Gratuity limit increase to 20 Lakhs from 10 Lakhs.

26. Bonus will be applicable for workers earning 21000 monthly.

27. The scheme, called Pradhan Mantri Shram Yogi Mandhan, will provide assured monthly pension of Rs. 3,000 with contribution of Rs. 100 per month for workers in unorganized sector after 60 years of age.

28. Our government delivered 6 crores free LPG connections under Ujjawala scheme.

29. 2% interest relief for MSME GST registered person.

30. 26 weeks of Maternity Leaves to empower the women.

31. More than 3 Lakhs crores for Defence.

32. One lakh Digital Villages in next 5 years.

33. Single window for approval of India Film makers.

Certain important points noted from #GST

Certain important points noted are :

# GST will 100% be implemented on 1.7.17

# Types of taxation in GST

IGST : Integrated GST

CGST : Central GST which with replacement CST

SGST : State GST which will replace VAT

# WEF from 1.6.17 : Migration towards enrolment of GST will start till 15.6.17

# Registration certificates will be issued online

# there will be no check post for 1 year. Only mobile check posts will be in full force. All intelligence officers will be dormant for sometime. 

# 5 forms on different dates have to be submitted every month 

R1 form on 10th 

R2 form on 13th

R3 form on 15th

R4 form on 17th & 

R5 form or final returns on 20th

You cannot file revised returns at all. Once filed on 20th is final.

# tax payments will be accepted only by e payments. Tax Payments via credit & debit card also added.

# In the present Vat system you upload sales & purchases every month. In GST you have to upload every sale & purchase bill. 

# be careful , every thing in GST is system driven. Once uploaded you cannot revise anything. No officer can help you in this. They can only pity the mistake

# your firm rating will be done by the system. Based on the rating audit trials will be conducted. 

# proposed e sugam for ₹50000 & above value only. 

# proposed rates of GST in percentage are 0, 5, 8 , 12, 18 , 28 & 40

# 1st time in the history of independent India 4 major category of businesses will be covered : Education, Textiles, Medical & Professional services 

# You need to submit 17 documents for migration to GST

# Most products MRP to come down.

# Distribution + C & F channel under threat

# All these categories which were not taxed will now be taxable : Replacements/ return goods, Barters , Free Samples, disposables, scrap material. For example : if you buy a 40 inch led TV from Girias for ₹30000 & return back your old TV in exchange for ₹4000, you have to pay tax on ₹34000.

# All movements of material will be taxable like : Head office to branch office (stock transfer), factory to C & F agent, godown to shop. 

# The GST officer has all rights to value your goods & fix the price. The law will decide Valuation of the product at Various levels like : Manufacturing, Wholesalers, Distribution & retailers. For example if Kissan is selling Jam for ₹150 & Patanjali is selling the same Jam for ₹120. (Same quantity, flavour, ingredients etc) Then Patanjali has to pay tax on ₹150.

# All books & records to be maintained on daily basis. 

# You will need a full time accountant in your shop/office to maintain books under GST. 

# All travel & tour expenses related to business have to be claimed under firm name.

# If your vendor does not upload his bills within 180 days , you will not get tax credit.

# You cannot claim credit for material in stock beyond one year.

# They propose that You have to dispose all your old stocks purchased under VAT/CST within September 2017.

# All VAT related documents like C-forms, F-forms etc have to be cleared within Sept 2017.

*For confirm details check CBEC or Govt. TAX Department websites.

Bestest offer by BSNL, but can it's beat other telecom companies?

BSNL, a couple of weeks ago revamped their already existing Rs. 339 promotional plan and it now offers 2GB of data per day along with unlimited voice calling. If you recall, the trend of offering 1GB of data per day was kickstarted by Reliance Jio with the 'Jio Happy New Year' Offer and the same will be continuing under the JioPrime membership plans.

To sustain in the ever growing Indian telecom sector and to combat Reliance Jio, incumbent operators such as Airtel, Vodafone India, and Idea Cellular came out with almost similar plans offering similar perks. With that said, Vodafone rolled out the service to segmented users, whereas Airtel's and Idea's offer was valid for all the prepaid customers.

After the entrance of Reliance Jio, the craze for mobile data in the country has seemingly increased, and BSNL has done exactly right thing by offering data than others with the Rs. 339 plan.

In contrast, all the other telecom operators are providing only 1GB of data, which is slightly a disadvantage over the BSNL's offer. The results are quite evident for BSNL as the users have consumed over 400TB of data on March 19 and most of the users are under the Rs. 339 plan.

Another report came out recently claimed that BSNL users are not looking to port out to Jio as they are mostly satisfied with the services it is offering, which is another unique point.

That said, BSNL has only concentrated on delivering better mobile data services with the Rs. 339 plan and they have limited the voice calls usage. Yes, the company has limited the off-net voice calls to just 25 minutes per day, whereas on-net calling is free for 28 days.

Other operators including Airtel, Vodafone, and Idea are providing unlimited voice calls to any network in India with a cap of 1200 minutes per months and 300 minutes per day, and that's a huge bonus. On the flip side, Jio is offering lifetime voice calling free to any network. Nevertheless, users are not complaining about the voice calling benefits of BSNL because they are satisfied with the data services.

All in all, BSNL is staying ahead of the private telecom operators with the Rs. 339 plan, but we don't know what changes will BSNL make after 90 days to the plan. If the company doesn't make any shifts in the plan and continue to offer the same for one year, it will be a deal breaker for the private operators.

Courtesy by telecomtalk.info

Highlights of Union Budget 2017 - 2018

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GST - No changes in service tax & excise duty as GST draft will be launching soon

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Fiscal Deficit - Seen at 3.2% (17-18) & 3% (18-19)

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Current Account Deficit - 0.3% (16-17) 1st Half

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FDI Investments - 1.45 Lakh Crores (16-17) 1st Half

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Direct Tax - Tax to GDP Ratio is very low

Income upto 2.5 Lakhs - Nil Tax

Income above 2.51 Lakhs to 5 Lakhs  - Reduces to 5% Tax from 10%

Income above 50 Lakhs to 1 Crore - 10% surcharge

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Farmer - Double their income in 5 years

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Agriculture - 10 Lac Crores credit

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MNREGA - Allocation 48,000 Crores

​​

PM Gram Sadak Yojna - Allocation 19,000 Crores

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Sr. Citizen - 8% guaranteed pension for 10yrs by LIC of India scheme

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Rail Budget - 1.31 Lakh Crores, New Railway Line of 3500 kms, No service charge on IRCTC Ticket booking

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Highway - 67,000 Crores for National Highways

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Disinvestment - Continue through ETF's and timely disinvestment of PSU's,

Target 72500 Crores

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Banking - 10,000 Crores to PSU banks for Recapitalisation, Double landing targets to Bank 2.44 Lac Crores, 2.44 Lac Crores under mudra scheme

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Total Expenditure - Estimated at 21.47 Lac Crores

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Defense Expenditure - 2.74 Lakh Crores excluding Pension

​​

Long Term Capital Gain - For immovable property reduced to 2yrs from 3yrs

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Income Tax - Companies turnover less than 50 Crores will pay 5%  less tax, Effective rate 25%

​​

Cash Transaction - No transaction over 3 lakes will be permitted in cash

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Infra - Insurance company has to invest 25% in Infra bonds

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*For details check Budget 2017-18 guidelines.

#Budget #TDS #IncomeTax #Insurance #Infrastructure #ArunJetly #Banking #MNREGA #Agriculture #Highway #Defense 

" PYARI SI BETIYA " ~ Save Girl Child

BETI KA ANOKHA SAWAL...

Dear Papa...

Beti bankar ayi hu ma-baap ke jivan me,

Nasera hoga kal mera kisi aur ke aangan me,

Kyu ye reet "RAB" ne banai hogi,

Kehte hai aaj nahi to kal tu parai hogi,

Deke janam paal-poskar jisne hame bada kiya,

Aur waqt aya to unhi hatho ne hame vida kiya,

Tut ke bikhar jati he humari zindagi wahi,

Par phir bhi us bandhan me pyar mile zaruri to nahi,

Kyu rishta humara itna ajib hota hai,

Kya bas yahi betiyo ka nasib hota he??

HAR BAAP KI DASTAN...

Bahut chanchal, bahut Khushnuma si hoti hai BETIYA

Nazuk sa dil rakhti hai, Masoom si hoti hai BETIYA

Baat baat par roti hai, Nadan si hoti hai BETIYA

Rehmat se bharpoor, Khuda ki nemat hai BETIYA

Ghar mehak uthta hai, Jab muskurati hai BETIYA

Ajeeb si taklif hoti hai, Jab dusre ghar jati hai BETIYA

Ghar lagta hai suna suna, Kitna rula ke jati hai BETIYA

Khushi ki jhalak, Babul ki ladli hoti hai BETIYA

Ye hum nahi kehte, Yeh toh "RAB" kehta hai. . .

Ke Jab main bahut khush hota hu toh janam leti hai

"PYARI SI BETIYA"

Daily Pulse India: E-commerce Sales On Hold, What Is Agusta Westland?, Raining Hopes on India Inc

Sales on hold: The big 3 e-commerce firms have put their online sales on hold after a ruling by the commerce ministry clearly forbid them from influencing prices on their platform. Their much-talked about discounts, aimed at bringing more shoppers online, have attracted the ire of brands, brick and mortar retailers and the government. This is one way of playing it safe. But we can be sure that they would have found a way out before the festival season starts in September, the sweet spot for all retailers.

Monsoon Hopes: We heard about Maruti going back to the drawing board to revise its sales forecast after the weather department predicted a normal monsoon this year - after three drought years. Now it seems like analysts all over are doing the same. Forecasts for vehicles (especially rural ones), consumer durables and as well as FMCG products are being raised, thanks to the IMD's forecast. The connection is pretty clear: Good rains means good crops which means good income for the three out of five Indians who depend on farming for their livelihood. That means a jump in rural spending. Already growth in rural sales outstrips urban in most industries, and a good season of rains will spur it some more.

No bad pictures: Some good news for the cigarette makers. Lawmakers in Parliament are against putting bigger warning pictures on their packs. The health ministry wanted to put in place an order that 85 percent of the cover of a cigarette pack should contain health warnings, a move that led to a strike by tobacco companies two weeks ago. Now, they have found support among lawmakers who say this will threaten the livelihood of tobacco farmers.

Sequoia/Vasan: Its 2009 investment in Vasan healthcare has come back to haunt Sequoia Capital. After searching its premises last week, the Enforcement directorate has questioned the managing director involved in the investment once more. The ED is probing money laundering allegations against Vasan Healthcare, among a host of other things and the focus is on the VC's investment in Vasan's convertible shares at a higher than expected price.

Apple in India: With slowing sales globally, Apple has begun to focus on India in a big way. It reported its first revenue drop in 13 years and its first drop in iPhone sales this week, but a closer look reveals that its India sales grew 56 percent. True, this growth is on a low base as Apple's market share was 1.7 percent in December 2015, but it does look like the increased marketing spend and discount plans are working.

What is Agusta Westland? It's a maker of military helicopters and also one reason for a stormy session of Parliament yesterday. An order to buy helicopters from this Anglo-Italian company was placed by the then UPA government in  2010, which was put on hold in 2013 and cancelled by the present NDA government in 2014. Click here to read why it's such a big deal.

On LinkedIn Pulse By Ramya Venugopal [Senior News Editor, LinkedIn] 

Dashrath Manjhi, we should proud on him.!

On Friday, 17th of August 2007, after prolonged battle with cancer, a man breathed his last inDelhi’s All India Institute of Medical Sciences (AIIMS). He was Dashrath Manjhi, the 78 year old legend who has now become the part of folklore in Gaya District of Bihar, India.

The courage and will of this man is one of those rare real life incidents which will continue to inspire mankind for ages to come. This simple man from Gayahad the fortitude and conviction to move mountains and he made it happen by his sheer perseverance and faith in his efforts to move the mountain. He is an inspiration for all us and just when you feel chips are down and the road ahead seems insurmountable, put yourself in his shoes and imagine the courage it would take to move a mountain.

Yes, this man literally moved a mountain! Alone, just by his sheer will and perseverance.

Over four decades ago, a frail, landless Dashrathgot hold of a chisel and a hammer and decided to change the face of his village nestled in the rocky hills ofGaya. He almost tore open a 300-feet-high hill to create a one-km passage. Instead of endlessly waiting for the apathetic administration to do something for those formidable hills that virtually cut his village off from civilization, Manjhi, then in his early 20s, took up a chisel and hammered at the rocks for 22 years.

It all started from Manjhi’s love for his wife. For, when she slipped off the rocks while getting food for him as he worked in a field beyond the hill and broke her ankle, it became a burning passion to tame the formidable hills. And he completed this Herculean task — creating a short-cut which reduced a long and arduous journey from his village Gahlor Ghati to Wazirganj to a walkable distance.At that time people called him mad. They ridiculed him.Even his wife and parents were against this “adventure,” especially when he sold his goats to buy a chisel, a hammer and rope.

But, by then, Manjhi was a determined man. He shifted his hut close to the hill so he could work all day and night, chipping away, little by little. May times he did not even bother to eat. With most of the cultivable land and shops across the hill, villagers had to cross it many times a day, braving dangers. It was after 10 years that people began to notice a change in the shape of the hill. Instead of a defiant rockface, the hill seemed to have a depression in the middle. Climbing it became a little easier. All those who had called him mad began to quietly watch him work. Some even chipped in.

Then in 1982, twenty-two years after he had started out, that day came when Manjhi walked through a clear flat passage — about 16-feet wide — to the other side of the hill. But his victory was tinged with sadness. His wife, who inspired him to take on this task, was not by his side. She had died of illness. They could not take her to a hospital on time.

But, the villagers were there to celebrate with him. They got him sweets, fruits and all that they could afford. The young generation in that area had grown up hearing stories of the man who wanted to move a mountain. Now that dream had become a reality and a boon for them.

This formidable task, single handedly performed by Dashrath Manjhi, resulted intoa 1.5 kilometer long road through the Gahlaur Mountain thus reducing the distance to cross the mountain from a grueling 50 kilometer to a much-easier 8 kilometer.

This hand-carved passage through the hill still remains the only sustainable change his village has ever chanced upon. Tubewells were installed, but they ran dry. Electric poles were put up, but the cables never came. And a five-acre plot given by former CM Lalu Prasad to Manjhi for a hospital still lies barren.

Septuagenarian Manjhi hadn’t given up though. In a recent interview he had said “I met CM Nitish Kumar recently. He has promised to develop the passage so that even a car can pass and will connect my village to Gaya. And, he told me that I will lay the foundation stone.”

Manjhi died on Friday at AIIMS inDelhidespite top care provided by the nation’s premier health facility.The state government of Bihar, in honor of Manjhi, has announced its decision to name the road built by the mountain man as Dashrath Manjhi Road and that hospital in Atri village in Gaya (which is yet to be built),to be named after him. He will not be there to lay the foundation stone when that passage will be developed fully, however, his story will continue to be the source of inspiration for many in the nation

I pay my humble tribute to Dashrath Manjhi. May his soul rest in peace!

His story in Irfaan Khan's movie " Manjhi "!

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