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#Budget2017

Key Highlights from Arun Jaitley's Union Budget 2017

Highlights: Budget 2017

For Salaried Individuals - Savings of up to Rs.12,500

  • Lower Taxes: Existing tax rate for individuals in Rs. 2.5-5 Lakh income bracket reduced to 5% from 10%.
  • This will result in savings of Rs.12,500 for all individuals with income > 5 lakhs.
  • Simplified Returns: One page return form for people with annual income upto Rs. 5 lakh other than business income.
  • Government Scrutiny: First-time I-T filers will not come under government scrutiny.
  • Income Surcharge: 10% surcharge on individual incomes between 50 lakhs and 1 crore. 15% surcharge on individual incomes above Rs.1 crore remain.

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Changes in Capital Gains

  • The holding period for computing long-term capital gains from transfer of immovable property has been reduced from 3 years to 2 years.
  • The base year for capital gains indexation has been shifted to 2001 from 1981.

Start Investing in Tax Saving Funds

Deadline for investments is 31st March

Invest Now

For Start-Ups & Businesses

  • Companies with Annual Turnover less than 50 Crore will now pay 25% Income Tax
  • Window for availing 3 year profit-linked incentives for start ups increased to 7 years against 5 years earlier.
  • This means the tax holiday for start-ups is up to 7 years, now!
  • Abolition of FIPB will help start-ups raise funds with ease.

Start and Manage your Business

Start-up services

Start Up Services

To Promote Digital Transactions

  • Referral and cash back schemes to promote BHIM App
  • No service charge on railway tickets booked through IRCTC
  • Presumptive Tax reduced to 6% from 8% on digital transactions
  • No cash transactions above Rs. 3 Lacs

    • 2.5+ million Indians

    have filed their tax returns through ClearTax.

    40,000+ companies'

    employees filed their returns with us.

    1.8+ million hours

    saved in tax filing by our platform.

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