Budget 2013-2014

Extracts of Tax Proposal in Goa’s Budget for 2013-14

Chief minister Manohar Parrikar who is also the minister for finance to present Goa's budget for 2013-14 on 18th March 2013. Extracts of Budget Speech on VAT,  Luxury Tax, Entry Tax & Entertainment Tax 1.         Speaker Sir, I now turn towards the tax proposals for the year 2013-14. The various schemes and interventions towards the… Read More

Tags: Budget 2013-2014GoaGoa BudgetGovernmentInvoiceManohar ParrikarTaxValue Added TaxVAT

Budget Allocation to “Bringing Green Revolution to Eastern India” under Rashtriya Krishi Vikas Yojana

Keeping in view the enthusiastic results of the implementation of BGREI programme, an allocation of Rs. 1,000crore has been announced for the programme in the Budget Speech for the year 2013-14. In addition, National Food security Mission (NFSM) and Rashtriya Krishi Vikas Yojana (RKVY) etc. are also being implemented in BGREI States for increasing agricultural output. The programme of Bringing Green Revolution to Eastern India (BGREI)… Read More

Tags: BGREI programmeBringing Green Revolution to Eastern IndiaBudget 2013-2014Rashtriya Krishi Vikas Yojana

Nearly 30% Hike in Plan Expenditure for 2013-14, Overarching Goal of Budget is to Create Job Opportunities for Youth

The Finance Minister Shri P.Chidambaram has announced that the plan expenditure in 2013-14 will be 29.4 percent more than the revised estimate of the current year. He said that anticipating a global and domestic recovery, total expenditure had been fixed at Rs. 14,90,925 crore but due to the slowdown and the austerity measures, the revised… Read More

Tag: Budget 2013-2014

MoF explains changes in Customs and Central Excise law as per Budget ’13-’14

Government of India Ministry of Finance Department of Revenue Tax Research Unit ***** P. K. Mohanty Joint Secretary (TRU-I) Tel: 23092687 Fax: 23092031 Email: pk.mohanty@nic.in D.O.F.No.334/ 3/2013-TRU New Delhi, dated the 28th February, 2013. Dear Chief Commissioner/ Commissioner, The Finance Minister has introduced the Finance Bill, 2013 in Lok Sabha today, i.e., 28th February, 2013.… Read More

Tag: Budget 2013-2014

Salient Features of Direct Taxes in Budget 2013

Corporate Tax No changes in basic tax rates and education cess However surcharge for domestic companies increased to 10% in case taxable income exceeds INR 100 million;  Foreign companies to pay a surcharge of 5% on similar level of income. 10% surcharge instead of 5% on DDT and other distributions to investors Effective tax of… Read More

Tag: Budget 2013-2014

Eligibility Conditions of Life Insurance Policies for Persons Suffering from Disabilities and Certain Ailments Relaxed

The Finance Bill 2013 proposes relaxation in the eligibility conditions of Life Insurance Policies for persons suffering from disability or certain ailment. Presenting the Union Budget in the Lok Sabha today, the Finance Minister Shri P.Chidambaram proposed that the permissible premium rate is being increased from 10 per cent to 15 percent of the sum… Read More

Tag: Budget 2013-2014

Tax Administration Reforms Commission to be Set Up

The Finance Bill 2013-14 proposes to set up a Tax Administration Reforms Commission(TARC). Presenting the Union Budget in the Lok Sabha today, the Finance Minister Shri P.Chidambaram said that proposed Commission will review the application of tax policies and tax laws. TARC will submit periodic reports that can be implemented to strengthen the capacity of… Read More

Tag: Budget 2013-2014

Commodities Transaction Tax Introduced in a Limited Way

Commodities Transaction Tax (CTT) Introduced in a Limited Way; Agricultural Commodities will be Exempt The Finance Bill 2013 proposes to introduce Commodities Transaction Tax(CTT) in a limited way. Presenting the Union Budget in the Lok Sabha today, the Finance Minister Shri P.Chidambaram said that CTT shall be levied on non-agricultural commodities future contracts at the… Read More

Tag: Budget 2013-2014

15 % Investment Allowance Provided on Investment of More than 100 Crores in Plant and Machinery

Concessional Rate of Tax of 15 Percent on Dividend Received from its Foreign Subsidiary by a Company Continued for One More Year The Finance Bill 2013-14 proposes an investment allowance at the rate of 15 per cent to a manufacturing company that invests more than Rs.100 crore in plant and machinery during the period 1.4.2013-31.3.2015.… Read More

Tag: Budget 2013-2014

Rajiv Gandhi Equity Savings Scheme Liberalised

The Finance Bill 2013-14 proposes liberalisation of the Rajiv Gandhi Equity Savings Scheme(RGESS) that was launched in FY 2012-13. The first time investors will now be allowed to invest in mutual funds as well as listed shares. This investment can be done not in one year alone, but in three successive years. Presenting the Union… Read More

Tag: Budget 2013-2014

TDS at the Rate of 1 Percent Applied on the Value of Transfer of Immovable Property Exceeding Rs.50 Lakh

The Finance Bill 2013-14 proposes levy of TDS at the rate of 1 percent on the value of the transfer of immovable property where the consideration exceeds Rs.50 lakh. However, agricultural land will be exempt. Presenting the Union Budget in the Lok Sabha today, the Finance Minister Shri P.Chidambaram said that transactions in immovable properties… Read More

Tag: Budget 2013-2014

Surcharge of 10 Per Cent on Persons with Taxable Income Exceeding Rs.1 Crore

The Finance Bill 2013-14 proposes a surcharge of 10 per cent on persons whose taxable income exceed Rs. 1 crore per year. This will apply to individuals, HUFs, firms and entities with similar tax status. Presenting the Union Budget in the Lok Sabha today, the Finance Minister Shri P.Chidambaram said that he also proposes to… Read More

Tag: Budget 2013-2014

Government takes Measures to Rationalise Expenditure

The Union Finance Minister Shri P Chidambaram called the policy decisions of the Central Government to correct some prices and review of certain tax policies as a dose of bitter medicine. Presenting the General Budget 2013-14 in Lok Sabha today, Shri Chidambaram said, faced with a huge fiscal deficit, the Government had no choice but… Read More

Tag: Budget 2013-2014

Page 1 of 212

Corporate Law Referencer

Recent Articles

Recent Legal updates

Recent Gst Updates