Prologue Raju Guide (DevAnand)’s budget Revenue incoming Non Tax Revenue Revenue Outgoing Raju Guide’s Capital Budget Capital incoming (receipt) Capital Outgoing (Expenditure) Govt.’s Annual financial statement Non-Tax Revenue receipts of Government [Table] NON-TAX REVENUE sources (Descending order) Revenue Expenditure [...]
Parts of Budget #1: Direct Taxes Direct taxes under Interim Budget 2014 Income Tax Shortfall in Direct tax collection = #EPICFAIL But Why shortfall in Direct tax collection? #2: Indirect taxes Indirect Taxes in Interim Budget 2014 #I1: Service [...]
Why Government Budget? #1: Contingency fund of India (Art.267) #2: Public Accounts of India (Art.266) #3: Consolidated fund of India (Art.266) What is Vote on Account? What’s interim budget? Vote on Account vs Interim budget Interim budgets in the [...]
Observations of Vijay Kelkar Committee How to increase collection of Direct Taxes? Review DTC bill Data Mining PAN/UID Card Mandatory Create Tax profiles Charge interest rate on tax defaulters How to increase collection of Indirect Taxes? Increase the coverage [...]
Parts of Budget= Revenue + Expenditure Types of Budget= Deficit/Surplus/Balanced Why printing more money=Bad idea? When fiscal deficit NOT BAD? When & Why is fiscal deficit BAD? Creates inflation Black Money Bond Yield increased Crowding out investment Twin deficit [...]
What are the Income tax slabs in Budget 2012? How to Calculate income tax? 3% educational cess What is the difference between Tax exemption and tax deduction? #1: Tax exemption #2: tax deduction Union budget 2012: provisions of Tax [...]