maryada jain MBA RTU,KOTA

1. Submitted to Submitted by
Mrs. Anamika sharma Maryada jain

2. What is budget?
• An estimate of income and expenditure for
a set period of time.
• A budget is the sum of money allocated for
a particular purpose and the summary of
intended expenditures along with
proposals for how to meet them.

3. ROADMAP & PRIORITIES
Agenda for 2017-18 is : “TRANSFORM,
ENERGISE and CLEAN India” – TEC India
TEC India seeks to :-
• TRANSFORM the quality of governance
and quality of life of our people;
• ENERGIZE various sections of society,
especially the youth and the vulnerable,
and enable them to unleash their true
potential; and
• CLEAN the country from the evils of
corruption, black money and non-
transparent political funding

4. Major highlights of union budget
2017-2018
• Budget relief for all the income tax
exemption limit to Rs 3 lakh now has
went up. So now, more than 3 lakh will
be taxed on those funds. Until now, the
limit was Rs 2.50 lakh.
• Although taxation of 3 to 5 lakh of that
amount went from 10 to 5 per cent

5. • Those with annual income
between Rs 50 lakh to Rs 1
crore will be levied a surcharge
of 10 per cent.
• The 15 per cent surcharge on
incomes above Rs 1 crore will
continue to be charged
• Time limit of capital gain has
been reduced from from 3 to 2
years.

6. Tax slabs used before 2017
Income Tax %
0-250000 10%
250000-500000 20%
500000-10,00,000 30%

7. Now these are the following tax slabs:-
For under 60 age
Income limit Tax %
0 – 2,50,000 NIL
2,50,001 – 5,00,000 5%
5,00,001 – 10,00,000 20%
10,00,000 above 30%

8. For senior citizens(60-80)
Income limit Tax %
0 – 3,00,000 NO TAX
3,00,001 – 5,00,000 5%
5,00,001 – 10,00,000 20%
10,00,000 above 30%

9. For 80 above
Income limit Tax %
0- 5,00,000 No tax
5,00,001 – 10,00,000 20%
10,00,000 above 30%

10. WHAT ELSE IS THERE IN BUDGET 2017
• Political parties will be entitled to receive
donations by cheque or in the digital
mode from their donors.
• No cash transaction of above Rs 3 lakh
will be allowed.
• Income tax for small companies with an
annual turnover of 50 crore has been
slashed by 5 per cent to 25 per cent
• Aadhar-enabled payment system will be
launched soon.
• The lending target of Pradhan Mantri
Mudra Yojana has been doubled to Rs
2.44 lakh crore for 2017-18.

11. • To utilize the Head Post Offices as front
offices for rendering passport services
• Reduction in the holding period for
computing long term capital gains from
transfer of immovable property from 3
years to 2 years. Also, the base year for
indexation is proposed to be shifted
from 1.4.1981 to 1.4.2001 for all classes
of assets including immovable property
• Maximum cash donation any party can
receive will be Rs 2000 from one
source.

12. Thank you