HIGHLIGHTS FROM THE BUDGET SPEECH

HIGHLIGHTS FROM THE BUDGET SPEECH OF THE FM AS ON 28.02.2013

1. Global economy has slowed from 3.9% to 3.2%
2. No solution but FDI, FII, ECB to bridge CAD
3. National food security bill is a promise of the UPA: FM
4. Invest allowance of 15% for investment in plant & machinery
5. Infra debt funds are encouraged to promote investment in infrastructure: FM
6. 4 IDF's have been registered with SEBI, 2 will be launched soon: FM
7. Some companies can issue tax free bonds up to Rs 50,000 cr for Infra: FM
8. Expect to raise Rs 25,000 Cr via tax-free bonds in FY13: FM
9. Home Loan up to 2500000/- taken after 01.04.2013 -2014 Additional Deduction of Rs. 100000/- in account of  Interest will be allowable.
10. Home Loan up to 2500000/- taken after 01.04.2013 -2014 Additional Deduction of Rs.100000/- in account of Interest will be allowable.
11. Rajiv Gandhi equity saving scheme to be liberalised: FM
12. Income limit for RGESS raised to 12 lakh from Rs 10 lakh: FM
13. CSR@2% shall be part of the Expenditure
14. To increase refinancing of SIDBI to help MSME: FM
15. Govt propose to setup a New Woman Bank as Public Sector bank
16. To provide `1,000 cr initial capital to All-Women's Bank: FM
17.  Insurance companies will be empowered to open branches in tier II cities without prior IRDA approval: FM
18. SEBI to simply procedures for FIIs, unify categories of FIIs: FM
19. Proposal to amend SEBI Act under consideration: FM
20. 289 FM radio channels to be auctioned in FY14: FM
21. 294 more cities to be connected by FM Radio: FM
22. Govt to contribute 1000 cr for Nirbhaya fund: FM

Tax Proposals in Budget Speech 28.03.2013

1. Dispute Resolution Method will be introduced for DT and IDT
2. Minimum Exemption 2 to 2.20 Lacs
3. Additional SC @10% whose taxable income exceed @1 Crore only for One Year Only called Super rich tax:
4. Home Loan up to 2500000/- taken after 01.04.2013 -2014 .Additional Deduction of Rs.100000/- in account of Interest will be allowable.
5. Eligibility conditions for disable person Insurance for 15% to 20%
6. Tax credit of '2,000 for income up to '5 lakh:
7. DDT Surcharge raised to 10% from 5%
8. To continue with education cess at 3%
9. 10% surcharge on companies with income over '10 crore
10. Tax holiday for power plants extended to March 2014
11. Extend 80IA by 1 year
12. TDS @1% on the Capital Gain transaction Over to Rs.50 lacs property.
13. 15% tax on dividend from overseas arms to continue.
14. DTC in progress , as per best international practice
15. To reduce STT on equity futures, MF Units
16. To introduce CTT on non agri futures contracts at 0.1%
17. Agri commodities to be exempt from CTT
18. 20% final withholding tax on unlisted companies
19. Modified provisions under GAAR effective April 1, 2016
20. To incorporate decisions on GAAR

CUSTOMS

1. SED on cigarettes hiked by 18%
2. Custom duty on imported motor vehicles hiked
3. To up import duty on luxury cars to 100% from 75%
4. Increase excise duty on SUV's from 27% to 30%

SERVICE TAX

1. No change in standard rate of excise duty, service tax.
2. Vocational Courses New Services added to negative List become exempted.
3. Film Industry get exemption for copy rights added to negative List become exempted.
4. Voluntarily Declaration Scheme in Service tax as One-time Amnesty Scheme for service tax due from 2007.
5. To reduce abatement rates for luxury apartments as reduced from 75% to 70 % in Residential Complex Services.
6. To impose service tax on all AC restaurants
7. For GST need to be pass by Constitutional Amendment. To present Draft Bill on GST in parliament in next few months.

Source : various sites and mailer.

Expose of Delhi Jal Board Corruption by Arvind Kejrival

                                                   AAM AADMI PARTY

Vision:

60 years ago India's founding forefathers had a dream for all of us - a dream of an equal and just society where every man, woman and child has the right and privilege to lead a fulfilling and nurturing life, free from all kinds of oppression. This was a dream and a hope over 60 years ago. The Constituion of India and specifically the Preamble to the Constitution of India, defines a clear roadmap for the future of our country wherein the common man and woman hold the power to decide their destiny.

Today nobody can say that India has achieved this dream. Before independence the common man was a slave to foreign powers; today he has become a slave of the political system of our country. There is a new master in our country today - the political Neta. This Neta, who asks for our votes during elections, and then forgets us after he wins, this political entity decides the common man's destiny.

But every civilisation reaches a plimsoll line of tolerance. This is our line. India's common man has had enough of oppression, inequality, injustice and unkept promises. For the last 2 years the anti corruption movement has galvanised the country from end to end into one common voice - a voice that is demanding a complete rehaul in the way political parties and their leaders function.

This national demand for a change in the way our political system works has forced our anti corruption drive to enter the political arena to clean it from the inside. Politics itself is not a dirty word - it is our current breed of politicians who have made it dirty. Aam Aadmi Party wants to make politics a noble calling once again.

We want to create a system where the political leaders we elect and place in the Parliament are directly responsible to the voters who elected them. Our party's vision is to realise e dream of SWARAJ that Gandhiji had envisaged for a free india - where the power of governance and rights of democracy will be in the hands of the people of India.

Video Courtesy : Vyavastha Parivartan via YouTube