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Budget update 2018

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  • Budget update 2018

    Budget 2018.Standard Deduction of 40000 for Salaried. Conveyance allowance & Medical reimbursement taxable. No change in Personal Tax Rates. Higher cess of 4%.
    Government to bear Employer PF contribution of 12% for new staff for 3 years. Women to contribute 8% PF for first 3 years but Employer contribution @ 10%/ 12%.
    LTCG on shares of more than Rs 1 lac to be taxed @ 10% WITHOUT Indexation.
    Difference in Circle rate of up to 5% not to be treated as income in property deals.
    E-Way Bill: In view of difficulties faced by the trade in generating e-way bill due to initial tech glitches, it has been decided to extend the trial phase for generation of e-way bill, both for inter and intra-State movement of goods. Eway Bill for inter state movement of Goods will be applicable w.e.f. 21.2.18...As per latest information...
    Features for filing Form GST ITC-04 have been enhanced on the GST portal to allow multiple entries of items in a single challan.
    MCA has notified that to access DSC related services of MCA, new settings are required effective Feb’03, 2018.
    SEBI has agreed to transfer Rs 16.7 billion of its surplus funds to the government. The Centre has been eyeing these resources, which would enable it to reduce the fiscal deficit.
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