GET Stock QuotesNews18 APP
News18 English
Powered by cricketnext logo
»
1-min read

Union Budget 2017: What It Means For You

Additional surcharge of 10% on individuals earning between Rs 50 lakh to Rs 1 crore

Tushar Dhara | News18.com

Updated:February 1, 2017, 5:44 PM IST
facebookTwittergoogleskypewhatsapp
Union Budget 2017: What It Means For You
File image of Arun Jaitley. (Image: PTI)

New Delhi: Finance Minister Arun Jaitley said on Wednesday the Union Budget for 2017-18 will push growth, promote digital economy and bring transparency in political funding.

Here is a list of things you should watch for in Wednesday's budget.

FOR FARMERS & UNDERPRIVILIGED

· India to spend more in rural areas, on infrastructure and for poverty alleviation

· To allocate Rs 400 crore for skills training for youth

· Rs 1.84 lakh crore allocated for women and children welfare

· To double lending target under Micro Units Development and Refinance Agency (MUDRA) to Rs 2.44 lakh crore

FOR CONSUMERS

· Excise duty hike on cigarettes to make the stick dearer. Another reason to quit

· National housing bank to provide Rs 20,000 crore for home loans

· Low cost housing to be given infrastructure status (Will help the companies actually, especially steel and cements. No surprise, the sectoral stocks shot up today).

· Long-term capital gains tax on immovable property to be levied after 2 years instead of 3 years

FOR TAX PAYERS

* No income tax if you are earning less than Rs 3 lakh per year

· Tax slab for individuals earning between Rs 2.5-5 lakh reduced to 5% from 10%

· Additional surcharge of 10% on individuals earning between Rs 50 lakh to Rs 1 crore

· Income tax rate for medium and small enterprises with annual turnover up to Rs 50 crore reduced to 25%

FOR VOTERS & POLITICAL PARTIES

· Parties will need to file income tax returns

· RBI Act to be amended to enable electoral bonds for political funding

· Individual cash donation to political parties reduced to Rs 2,000 from Rs 20,000

Read full article
Next Story
facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
HDFC Life 344.40 +54.40 +18.76
SBI 337.50 +4.10 +1.23
HDFC 1,705.50 +41.10 +2.47
ICICI Bank 325.10 +6.15 +1.93
Bank of Baroda 183.55 +0.75 +0.41
Company Price Change %Gain
HDFC Life 343.70 +53.70 +18.52
ICICI Bank 325.10 +5.95 +1.86
SBI 337.40 +3.95 +1.18
Rain Industries 329.75 -17.35 -5.00
PNB 190.70 +1.25 +0.66
Top Gainers
Company Price Change %Gain
Tata Power 88.95 +4.15 +4.89
Cipla 608.55 +15.70 +2.65
HDFC 1,705.50 +41.10 +2.47
Maruti Suzuki 8,348.35 +184.65 +2.26
Tata Steel 701.20 +14.85 +2.16
Company Price Change %Gain
Cipla 608.65 +15.65 +2.64
HDFC 1,701.00 +37.05 +2.23
Maruti Suzuki 8,340.70 +175.20 +2.15
Tata Steel 701.35 +14.70 +2.14
Tata Motors 421.45 +7.95 +1.92
Top Losers
Company Price Change %Gain
Tech Mahindra 484.55 -15.35 -3.07
Infosys 970.95 -17.45 -1.77
Bosch 18,965.90 -292.55 -1.52
TCS 2,707.30 -39.35 -1.43
HCL Tech 840.00 -11.90 -1.40
Company Price Change %Gain
Infosys 970.95 -17.65 -1.79
TCS 2,710.10 -36.50 -1.33
ONGC 177.50 -1.85 -1.03
Wipro 294.75 -2.90 -0.97
Asian Paints 1,171.10 -8.95 -0.76

Live TV