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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