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TMI BlogMeasures Proposed for Skill Development and Augmenting Funds for SMEs Turnover Limit for Compulsory Tax Audit Raised to Rs. One Crore.X X X X Extracts X X X X X X X X Extracts X X X X ..... Measures Proposed for Skill Development and Augmenting Funds for SMEs Turnover Limit for Compulsory Tax Audit Raised to Rs. One Crore. X X X X Extracts X X X X X X X X Extracts X X X X ..... rmation Bureau Government of India Ministry of Finance 16-March-2012 13:46 IST Measures Proposed for Skill Development and Augmenting Funds for SMEs Turnover Limit for Compulsory Tax Audit Raised ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to Rs. One Crore In order to augment funds for SMEs (Small and Medium Enterprises), theUnion Finance Minister Shri Pranab Mukherjee, in the General Budget 2012-13presented in LokSabha here today, h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as proposed to exempt capital gains tax on sale of a residential property, if the sale consideration is used for subscription in equity of a manufacturing SME company for purchase of new plant and mac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hinery. Further, considering the shortage of skilled manpower in the manufacture sector and in order to generate employment, the Finance Minister, Shri Mukherjee has proposed to provide weighted ded ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uction at the rate of 150 per cent of expenditure incurred on skill development in manufacturing sector in accordance with specified guidelines. Providing relief to a large number of SMEs, it has be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... en proposed to raise the turnover limit for compulsory tax audit of accounts as well as for presumptive taxation from Rs. 60 lakh to Rs. One crore.
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