The Lilliput Budget

BY

Covers:• Personal Taxation• Corporate Taxes• Three sectors in focus• Significant

Information

“Tune in to develop your money sense”

Atal Pensi

on Plan

Health Insura

nce

Pension

Funds

Personal TaxationDeduction for health insurance premium U/S 80D increased from INR 15,000 to INR 25,000 & for

senior citizens – INR 20,000 to INR

30,000.

Additional deduction of INR 50,000 for

contribution to new pension scheme U/S

80CCD.

Transport allowance exemption hiked from 800 p.m. to

1600 p.m. (a long-awaited change) For specified

disease of serious nature, deduction

limit hiked from INR 60,000 to INR

80,000.No change in Tax Slabs

Wealth tax abolished from this F.Y.

2% surcharge on super rich (i. e income greater than 1 crore p.a.)

Total tax exemption of INR 4,44,200 can

be achieved

Increase in Service Tax to 14% (inclusive of cess)

A Bit More…

Corporate Taxation

The rate of corporate tax to be reduced to 25% over the next

four years

100% deduction for contribution to Swacchh Bharat and Clean Ganga,

apart from CSR.

Make India a hub for start-ups over the course of next 3

years. (So, gear up fellas)EcExcise Duty

Overall increase to 12.5%Increased by 25% on 65 mm cigarettes and 15% on other

categoriesOn leather shoes priced above

INR 1000 down to 6%

Changes for the Education Sector

• Focus is on higher education

• Upgradation of Indian school of mines (Dhanbad) into a full-fledged IIT

• Creation of two IITs including Dhanbad and Karnataka

• Set up of Institutes of Science and Education Research in Nagaland and Odisha

• Two IIMs in Jammu and Kashmir & Andhra Pradesh

• Plans to establish senior secondary school within 5km reach of every child

• New scheme ‘Nayi Manzil’ to enable minority youth without ‘school leaving certificates’ to get employment

A Farrago of Welfare Schemes

• Target of making 6 crore toilets

• Housing for all by 2020

• INR 1000 crore to be put in ‘Nirbhaya fund’ for improved security of women

• Aim to complete electrification of most villages by 2020

• Boost medical opportunities in villages, where it is a vital need

• Proposal to create universal social security schemes for all Hindustanis

• Plans to launch ‘PM Suraksha Yojana’ to provide accident insurance of INR 200,000 on a premium of INR 12 per year

Tourism (Athiti devo bhava)

.

In order to ensure higher foreign exchange reserves, better economic security, greater investments and holistic developments, these are the

changesBolstering efforts to improve

signages, landscape restoration, parking, security etc. at various heritage sites

Propose to increase ‘Visa on Arrival’ to 150 countries as

compared to existing 43 countries

*DO NOT MISS!*

Three schemes to curb Gold imports and monetize large ideal stocks:

• Government will launch a ‘Gold monetization scheme’, where depositors can earn interest on their metal accounts

• To develop an alternate financial asset in form of a Sovereign Gold Bond, which will minimize the purchases of metal gold. The bonds will carry fixed interest and shall be redeemable in cash

• Introduction of an Indian gold coin with Ashok Chakra on it to reduce dependence on foreign gold coins

THANK YOU

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