Budget Summary — A Quick Overview of the Important Tax Provisions in the Finance Bill 2018

| CA Abhishek Murali, M.Com, FCA, ACMA, CGMA, CIMA(Lon.), CISA, DISA |

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Abhishek Murali gives us a snapshot based on Finance Minister, Arun Jaitley’s, Budget 2018.

The Finance Minister, Arun Jaitley, has presented the Budget for 2018, and people have been keeping a watchful eye on what it has in store for different segments of the economy — individual as well as corporate taxpayers.

Here is a summary. A detailed write-up from Mr Murali will follow. #

DIRECT TAXES #

The Statistics #

TAX RATES #

Individuals #

Corporates #

Senior Citizens #

CAPITAL GAINS #

Long Term Capital Gains #

Short Term Capital Gains #

IMMOVABLE PROPERTIES #

COOPERATIVE SOCIETIES IN AGRICULTURAL ACTIVITIES #

EMPLOYMENT GENERATION #

Additional deduction #

CASH TRANSACTIONS #

E-ASSESSMENT #

Abhishek Murali, the first of our guest writers, who will feature on the Influx blog on matters of interest, is a practising chartered accountant based in Chennai. He is the Managing Director of Victor Grace & Co. and an elected Regional Council Member of the Institute of Chartered Accountants of India (ICAI).

 
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