TMI BlogMajor Takeaways - Budget 2018X X X X Extracts X X X X X X X X Extracts X X X X ..... Major Takeaways - Budget 2018 - By: - CS Swati Dodhi - Income Tax - Dated:- 1-2-2018 - - Direct Tax - Farmer producer companies will get 100% exemption for 5 years - New employees cost ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... deduction rationalized for 1st year of employment - Companies with turnover upto 250 Crore will have 25% tax rate - ₹ 40000 standard deduction allowed to salaried employees - Interest o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n FDs limit raised to ₹ 50000 for senior citizen - Senior Citizen Medical Insurance limit raised to ₹ 50000 - Critical illness expenditure limit also increased to ₹ 1 lakh for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... senior citizen - Long Term Capital Gain above ₹ 1 lakh in a year on listed equity shares will be taxed at 10%. Such gains upto 31.01.18 exempted - Tax on Growth oriented Mutual Fund distri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... buting Dividend - Total Cess on Income Tax is now 4% - Electronic Assessment introduced Indirect Tax (Non-GST) - Custom duty on mobile phones and accessories increased - Edu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cational Cess on some goods reduced - Certain changes in procedural part of Customs - - Scholarly articles for knowledge sharing authors experts professionals Tax Management India - taxma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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