UnionBudget2018India 1Feb2018: highlights2: #Salaried. #SeniorCitizens. retail #Investors. #Technology-Orientation. #DigitalIndia

#UnionBudget2018India 1Feb2018: highlights for salaried individuals & senior citizens & retail investors that are affected:: + technology orientation & digital India::

Personal Income Tax:

1. no proposal or no change in tax-slabs for individuals. (#FM states that he has done enough for the salaried class & tax slabs already!)
2. New: 40000 rupees – standard deductions:  transport & medical reimbursement allowances
3. Women PF employee contribution reduced to 8% to allow higher take-home salary
4. Senior Citizens: exempted interest income on bank or post office FD 10k increased to Rs.50K. NO TDS under sec 5A.
5. health insurance premium & medical expenditure Rs. 30k to 50k under 80D.
6. general deduction: Rs. 60K senior citizen & 80k snr snr to 1lac for all.
7. assured 8% return on LIC policies
8. Equity markets:
   1. ROI on equity:

      This is #BREAKING!

      long term capital gains now

      but vibrant equity mkt => modest (as per FM!)

      tax on exceeding 100000 investment at 10%! What!

   2. 1yr as short term capital gain at 15%

9. MFs at 10%!
10. health & education cess increased to 4%
11. highlights for Companies & employees in insurance scheme – so change in HR policies/benefits restructure or standardisation: All 3 nationalised insurance companies will be merged and listed as one company.
12. highlights for Companies & Enterprises:
    1. Unique Aadhaar ID for each enterprise entity to be mandatory.
    2. Also 372 business reforms on the cards
13. #Technologies/ #Digital #India:
    1. #blockchain being evaluated & to be adopted towards digital India.
    2. #CryptoAssetsCurrencies are absolutely Illegal
    3. #MachineLearning #AI #InternetOfThings #IoT #3DPrinting through #StartUpIndia #MakeInIndia schemes through #NitiAyogs
    4. #robotics #BigDataTechnologies etc. will be through #CyberCOEs #CentreOfExcellence around 373!
14. Telecom+Digital: indigenous #5G speed at #IIT_Chennai

~ Prabeen Kumar Pati

#UnionBudget2018India #UnionBudget

#PrabeenPati