Application for Anticipatory bail in India

The criminal procedure code in its section 438 gives the provision for the person to seek anticipatory bail. The main purpose of such bail is to safeguard a person from the false accusations he may face, and is more common in cases involving personal and professional disputes. This bail is offered to someone in anticipation of being accused in a non – billable offence. There has to be proper and reasonable reasons to be given to apply for the bail, to seek the same the person must approach the courts of sessions or the high court and citing section 438 of the criminal procedure code if the court deems fit he will be released. While granting the bail court looks into following consideration or points :

1. The past record of the applicant, his character and criminal charges if any
2. The nature and the gravity of the accusations.
3. The present case scenario is the case frivolity or it has some substance.
4. The possibility of the applicant hurting or causing threat to the outside world.
5. The chances that the applicant may flee after been granted bail .

These bail come handy esp. in the cases of the criminal cases, especially those pertaining to dowry. This type of bail is applied for anticipation of a arrest , if the accused has a reason to believe that he / she may get arrested for a crime which he didn’t did he / she has the right to apply to such bails . One may apply for anticipatory bail after learning about a criminal complaint made against them to the police by their wife, or by any threats made by her family against the accused family.

THE CONDITION ON WHICH BAIL WILL BE GIVEN BY THE COURT

The High Court or the Court of Session may include such conditions in the light of the facts of the particular case, as it may think fit, including:

• a condition that the person shall make himself available for interrogation by the police officer as and when required;

• a condition that the person shall not, directly or indirectly, make any inducement, threat or promise to any person acquainted with the facts of the case so as to dissuade him from disclosing such facts to the court or to any police officer;

• A condition that the person shall not leave India without the previous permission of the court.

Procedure for the anticipatory bail application in India

When FIR has not been filed

In case when the FIR has not been files the lawyer will first to the police officer concerned since no FIR has been filed the judge will agree and ask the accused to withdrawn the bail. The lawyer in most number of cases makes a oral prayer to the judge for a 7 days pre arrest notice in case the police decides to arrest the accused or his family. The judge will allow this plea. If the bail is rejected one can go to high court , if from there also it can go to supreme court .

When FIR has been filed

In this case FIR has been filed the officer will send a notice of arrest, as soon as the notice is received the same procedure as above has to be followed.

Author: This blog is written by  Mr. Shubhang Gomasta, student of Tamil Nadu National Law School , a passionate blogger & intern at  Aapka Consultant.

How Aapka Consultant can help you:-

• Getfree expert consultancy from experts.
• We available every time to solving your legal queries.
• Get one stop solution for all legal compliances.
• Process application within 24 Hours.
• Trusted by Most Valuable Startups.
• We Understand Startup Budget & their needs.
• Get quality services at pocket price.

Visit: Aapka Consultant to get Online Services of CA CS & Lawyers.

Financial Projection of Start-up Business in India

Financial Projection of Start-up Business in India

Start-up Business in India: How to be started?

Business is all about profits and losses. When we are working on a new business plan, it is very important to forecast our future revenue and expenditure. This exercise of analysing future revenues and expenses before taking any step with respect to a business plan is referred to as ‘financial projections’. It is basically the estimate of future financial performance of business.It varies from business to business; i.e. the kind of business taken up.

Funding: The Main Challenge

One of the main challenges faced by start-up business is the access to finance. A start-up business involves taking risk and therefore, no one is ready to invest in such a business and finance the same. Such a scenario discourages entrepreneurs to start new business. In order to solve this problem, Government of India has started, Start-up India Action Plan in the year 2016. This will ensure easy clearances, fast recognition of start-ups, easy funding indirectly through government, through registered Venture Funds with Securities and Exchange Board of India (SEBI) and other benefits. This scheme of the Government aims to enhance the start-up eco-system of India.

Financial Projections

The basic requirements to prepare a financial projection for a start-up business in India are:

• Profit and Loss Statement
• Balance Sheet
• Cash – flow Statement

The following steps are involved in preparing a realistic and successful financial projection:

1. Revenue Forecast and Profit & Loss: Firstly, a revenue forecast along with a profit and loss statement should be prepared. This gives us the basic idea about the receipts and the expenses. Supporting tables should be attached so as to have detailed information about costs with respect to marketing, personnel etc.
2. Prepare a Monthly Forecast: To be precise and ensure reality in the calculations, prepare a spreadsheet with the help of revenue forecast (as already made; see point. If the business plan comprises of many years of financial projection, prepare a monthly forecast of income and expenditure.
3. Reasonable estimate: Depending upon the business you plan to do assume the efficiency. For example, if the business deals with selling of certain goods then, include the forecast of goods sold. Also, give a reasonable estimate for the cost.
4. Marketing Strategy: For any business, market strategy/planning is very important. Outline the market strategy in your business plan and highlight the costs involved in the same. More than one strategy can be formulated according to the business plan and costs for each of the strategy can be estimated. So as to have realistic figures and to plan the budget accordingly.
5. Estimate the cost of running the business: There are certain miscellaneous and administrative costs involved in doing a business. The cost of general utilities, rent and other recurring costs may be forecasted. Every category of costs according to the business should be forecasted. Fees of legal services and other mandatory requirements should also be forecasted.
6. Payroll Forecast: Human resource management is the most important aspect to be kept in mind while starting a new business. There are many labour legislations to be complied with, depending upon the type of business. When we hire competent personnel, we need to define the payroll for them as well. This should be estimated well in advance. The financial projection is generally made for more than one year, the percentage increase in salary should also be calculated for subsequent years. This will ensure matching of business strategy with human resource management.

The above mentioned steps,  covers the financial projection in general; the same may differ depending upon the kind of business people undertake to do. Therefore, for basic guidance these things should be kept in mind as they form the crux of financial projection.

Author: This blog is written by  Ms. Raina Verma, student of SVKM’s NMIMS School of Law, Mumbai, a passionate blogger & intern at  Aapka Consultant.

How Aapka Consultant can help you:-

• Get free expert consultancy from experts.
• We available every time to solving your legal queries.
• Get one stop solution for all legal compliances.
• Process application within 24 Hours.
• Trusted by Most Valuable Startups.
• We Understand Startup Budget & their needs.
• Get quality services at pocket price.

Visit: Aapka Consultant to get Online Services of CA CS & Lawyers.

REGISTRATION OF PRIVATE LIMITED COMPANY

REGISTRATION OF PRIVATE LIMITED COMPANY

Kinds of Companies

The Companies Act, 2013 is the ‘grunt norm’ when it comes to matters relating to companies. The Companies Act, 2013 provides for three kinds of companies. They are as follows:

• Public Limited Company: It has a minimum paid-up share capital of Rs. 5,00,000/- and requires minimum seven members to form a public limited company. Public Companies do not restrict transferability of shares. It does not have a cap on maximum number of members of the Company.

• Private Limited Company: It can be started with minimum two members and can have maximum of 200 members. Minimum share capital of Rs. 1 lakh is needed to start a private limited company. It prohibits invitation or acceptance of public deposits.

• One Person Company: In these companies, one man holds the entire share capital of the company. This kind of companies can be started with minimum one member.

Registration of Companies

Registration is a process involved during the incorporation of the company. Registration of the company also helps to raise fund. The companies which are registered, find it easy to raise funds, as they appear to be authentic and not fraudulent.

Process of Registration of Private Limited Companies

• Obtain Digital Signature Certificate (DSC): The first and the foremost step is to obtain ‘Digital Signature’. The Companies Act, 2013 requires to file certain documents along with the digital signature of Managing Director/ Director. Therefore, it has become necessary to obtain digital signature certificate (DSC) from an authorised authority.

• Obtain Director’s Identification Number: Secondly, obtain a Director’s Identification Number (DIN). This is a mandatory requirement under section 153 of the Companies Act, 2013. All the persons proposed to be appointed as a Director should ensure that they have DIN No. as it has to be filed with the Central Government in the prescribed manner.

• Proper Name: Thirdly, name of the company is to be decided. It should not be similar to any other company in the market and should not be of such a character so as to deceive customers. The name should not include words like ‘Bharat’, ‘Hindustan’ etc. as they represent government entity or a public entity. After deciding the name of the Company, the same should be approved by the Registrar of Company (ROC). If the ROC does not approve, then other name is to be decided; and if it is approved then, further move on to make Articles of Association.

• Draft Memorandum of Understanding and Articles of Association: Fourth step is to prepare Memorandum of Association and Article of Association. They form the constitution and by-laws of the Company respectively. They are the most important documents required during registration of the Company. They are the Charter and the internal rules and regulations of the Company. It must be drafted with utmost care and with the advice of the experts.

After complying with the above four requirements, one can apply for Certificate of Incorporation. The basic requirements of digital signature certificate, director’s identification number, approval of name by ROC and Memorandum of Understanding (MOU) and Articles of Association (AOA), must be fulfilled and then company applies for registration, and thereby to obtain a certificate of incorporation. After all the documents are approved by the ROC, the company is registered with Ministry of Corporate Affairs.

Therefore, these are the basic requirements to be fulfilled while dealing with the registration of private limited company.

Author: This blog is written by  Ms. Raina Verma, student of SVKM’s NMIMS School of Law, Mumbai, a passionate blogger & intern at  Aapka Consultant.

How Aapka Consultant can help you:-

• Get free expert consultancy from experts.
• We available every time to solving your legal queries.
• Get one stop solution for all legal compliances.
• Process application within 24 Hours.
• Trusted by Most Valuable Startups.
• We Understand Startup Budget & their needs.
• Get quality services at pocket price.

Visit: Aapka Consultant to get Online Services of CA CS & Lawyers.

How to Apply for RNI Registration Certification

How to Apply for RNI Registration Certification

RIN Registration means registration to the newspapers. As we all know that now a day there is a wide circulation of the newspaper all across and daily some new news paper come up.  The Registrar of Newspaper (RIN) is a statutory body came into existence on 1st July 1956. It has headquarters at New Delhi and Regional offices are at Mumbai, Kolkata, and Chennai.

 It is somewhat similar to registration of a company as it is mandatory for all the company to get registered likewise it is important for the newspaper industry to get registered. So in order to start a newspaper or periodical or printed publication in India, RNI registration from the registrar of the newspaper is essential.

However in certain condition this certificate is not been granted are

• If the title is similar to any foreign title or the title in any other language that cannot get RIN registration
• If the title is similar to any news channel or any coaching institution etc

Procedure to RNI Registration Certificate

Step 1:

 You will have to get the title for your newspaper get verified by the registrar of the newspaper for India

Step 2:

You have to give an application regarding the title of the newspaper to the DM of that state and you have to give him option for the title, and language, place of publication and name, address, contact number and email id of the owner of the newspaper proposed i.e. applicant.

Even you can fill the application form by your own by online form which is given on the RNI registration website and after filling you can get is print out and affix the recent passport size photograph to the form and then you have to submit to the DM and the title will only get verified only if the hard copy of the form will be submitted to the DM.

Step 3: 

After the DM is satisfied that the all the detail mentioned in the form are correct then forward to the RNI will check the title availability and after that the title has to get verified after verification is done then title gets approved.

Step 4:

 RNI will inform the DM and the publisher of the paper about the availability of the paper and then issue the letter of verification.

Step 5:

 The publisher after that has to give a declaration to the DM in the format prescribed and thereafter can start publishing the newspaper.

Step 6:

 When the 1st issue of the newspaper is published, then the application for registration can be submitted to RNI along with the certain documents such as:

• Copy of Title verification letter
• attested copy Authenticated declaration
• An affidavit claiming no foreign tie-up
• First issue and latest issue of the publication
• Certificate intimating talking about the appointment of the printer

Step 7:

After this last step is that the newspaper must contain various things:

• Issue number and volume must be mentioned,
• date line and page number on all pages is mandatory,
• title prominently displayed on the cover page and all pages,
• an imprint line containing the name of printer, publisher, owner and editor,
• address of the place of publication
• Name and address of the printing press of the newspaper.

 These are the certain things required for the RNI registration is required before starting the publishing the new newspaper.

Author: This blog is written by  Ms. Ayushi Mehrotra, student of Bharati Vidyapeeth Deemed University New Law College, Pune, a passionate blogger & intern at  Aapka Consultant.

How Aapka Consultant can help you:-

• Get free expert consultancy from experts.
• We available every time to solving your legal queries.
• Get one stop solution for all legal compliances.
• Process application within 24 Hours.
• Trusted by Most Valuable Startups.
• We Understand Startup Budget & their needs.
• Get quality services at pocket price.

Visit: Aapka Consultant to get Online Services of CA CS & Lawyers.

How to Deposit Above 2.5 lakhs Cash In our Account

Depositing Above 2.5 lakhs Cash In our Account

On 8th of November when the Prime Minister Mr. Modi has announced about the note ban over two high denomination currency note i.e. 500 and 1000, he at that time made one more announcement regarding deposition of that money in which one cannot deposit more than 2.5 lakhs in their accounts and if they will do so than they will come in preview of Income Tax Department and then the inquiry will sit upon them they have pay 200% of there income as penalty for the amount which they have deposit in the account A separate report will be prepared of those people and will be given to the minister and hard punishment will be given to them. But recently Government of India providing a relief path to black money holder announce that those who willfully/voluntary declare his/her black money then 50% tax is charged on that disclosed amount and 25% of that amount is disclosed in anti poverty scheme without interest and lock in for 4 year time period and 25% of the amount is return back to the person who disclose it.

    After this declaration in the news channel there was hassle and cores amongst all the people what to do of the amount they have withdrawal and what to do next there was lots of confusion regarding the deposit.

 But the answer for all this is just one and quite simple that if you are a tax payer than you need not have to worry because if there is any problem that all you have to do one thing that is prove the income tax department that you are a genuine tax payer and you have all the receipts of your sale.

  The major problem lies only to those who have horde the large amount of money at there home and are not a tax payer.

There will be no problem on deposit money more than 2.5 lakhs all you have to prove certain points those are: –

1. You have to firstly tell who are you which means Whether you are

• A Big Businessmen
• A small trader
• Service men
• House wife

2. Than you have to tell them that you are a tax payer and filed Income Tax Returns.

3. BIG BUSINESSMEN: – If you are big business men and you have shown your income as 1 crore i.e. you fall in the highest slab of tax payer and cash in hand that you have shown in your books of account as 40 Lakhs if you will deposit more than 40 lakhs than too you don’t have any kind of problem. No Inquiry will come upon these big business men.

4. SMALL TRADERS: – If you are a small trader and you have filed the income tax return of 2 lakhs rupees and showed cash in hand of 4 lakhs in the cash memo and out of this deducting all the expenses cash in hand is suppose to be 50000 only out of which one is not liable to pay any kind of income tax

       Immediately after the decision of the note ban that same trader deposited 2.5 lakhs which he never showed. Than too you need not to worry about the same but if the inquire sits than you have to show the source of income for example id you say that you were saving 50000 from past five year and you have made that fund as a contingency fund which you have saved for the uncertain situation or any emergency .

5. SALARIED CLASS: – If you are a service class and supposing if you have no other source of income other than your service than too you don’t have to panic you can show the bank account statement which will show your spending pattern. If you deposit more than you can show that your lifestyle that you and your wife live and what amount you spend and rest you save. The same you do for every month salary and you are saving the amount from many years. The amount that you are depositing is the amount you are saving for emergency.

6. HOUSE WIFE: – If you are a house wife than you can show that it has been ten years of the marriage and continuously you are saving some amount and that you are depositing

Author: This blog is written by  Ms. Ayushi Mehrotra, student of Bharati Vidyapeeth Deemed University New Law College, Pune, a passionate blogger & intern at  Aapka Consultant.

How Aapka Consultant can help you:-

• Get free expert consultancy from experts.
• We available every time to solving your legal queries.
• Get one stop solution for all legal compliances.
• Process application within 24 Hours.
• Trusted by Most Valuable Startups.
• We Understand Startup Budget & their needs.
• Get quality services at pocket price.

Visit: Aapka Consultant to get Online Services of CA CS & Lawyers.

How to Change the 500 or 1000 Rupees Note: Step by Step

How to Change the 500 or 1000 Rupees Note: Step by Step

With the ban over the currency note of 500 and 1000 currency note the main point is that now is how to deposit this money now follow these step to make the deposit easy because it not any kind of panicking situation

FOR DEPOSITING THE NOTES AND THAN WITHDRAWING IT PROCESS

STEP 1:

     Collect the currency note all the note of 500 and 1000 lying at your home.

STEP 2:

     Go to the bank branch where your bank account is.

STEP 3:

     Fill the paying slip of the bank amount (In some bank there is differentiation is made upon deposition of old and new currency for instance in IDBI Bank there is one pink slip for  old currency note and white is for new notes.) so fill it accordingly. One thing that one has to remember is that while depositing the money one must be the account holder of that account and must accompany the valid id proof which must be signed.

If you want the currency in exchange of the 500 and 1000 notes than there are two way

1. You can get 4000 exchange every day you have to fill the form available at the bank branch and along with that you have to carry your photo identity.
2. Another way to get money is that you can go to the home branch of the bank where your account is and there you can go and can withdraw the cash up to twenty four thousand through loose cheque. You have to fill the form and photo identity along with it. There you require the passbook of that account and which must be attested. By this way one can get the 1000 and 500 currency note changed.

You can go to the petrol pumps where there is a machine prescribed there one can go and withdraw amount of rupees two thousand from there and you can go to the big bazaar there they also provide the facility of currency exchange of rupees two thousand rupees there also.

Author: This blog is written by  Ms. Ayushi Mehrotra, student of Bharati Vidyapeeth Deemed University New Law College, Pune, a passionate blogger & intern at  Aapka Consultant.

How Aapka Consultant can help you:-

• Get free expert consultancy from experts.
• We available every time to solving your legal queries.
• Get one stop solution for all legal compliances.
• Process application within 24 Hours.
• Trusted by Most Valuable Startups.
• We Understand Startup Budget & their needs.
• Get quality services at pocket price.

Visit: Aapka Consultant to get Online Services of CA CS & Lawyers.

Benefits on 500 or 1000 Rupees Banned

Benefits on 500 or 1000 Rupees Banned

 “The fight for justice against corruption is never easy. It never has been and never will be. It exacts a toll on our self, our families, our friends, and especially our children. In the end, I believe, as in my case, the price we pay is well worth holding on to our dignity”.

                                                           ~ Frank Serpico

On the evening of 8th November 2016, at 8 pm Prime Minister Narendra Modi made an unbelievable speech on national television which opened the floodgates of Facebook and Instagram post and WhatsApp jokes before making way for more serious discussions about the issue.

All currency notes of denominations Rs. 500 and Rs. 1000 had lost their legal sanction from midnight of 8th November. While currency notes of Rs. 500 will be re-issued as a new one, but Rs. 1000 currency notes will be completely be drained away with this announcement. In addition to it, technologically advanced currency notes of denomination Rs. 500 and Rs. 2000 will be introduced in limited numbers from November 10. However, all notes in lower denomination will remain unaffected.

After this announcement all we see is the long queue outside every bank and every people look confused about what they will do and some are unable to understand what is going on they only know that they have a specific amount which they have get exchange and even at mid night we have seen that there were many people outside ATM trying to deposit there 500 and 1000 denomination note in the Cash Deposit Machine and withdrawing it from ATM. But the biggest question that was arising in every one mine was what’s next. But one satisfaction that was there in the mind of every one was although we will face some trouble in short run but in coming days i.e. in long run it will have many good and positive effects on the individual as well as for the economy as a whole.

Some of the benefits of this step are:-

1.    Uprooting the parallel moving economy:- The primarily benefit of this step is to curb black money from the economy as they will be blocked as the owners of that black money will not be in a position to deposit the same in the banks as if they will deposit they will come in the eyes of income tax. This move is also beneficial as there is a large circulation of the counterfeit currency in our economy and many mal practices take place and will curtail towards the funding towards the anti-social activities like terrorism, espionage, smuggling, etc. This move will cut the frequency of movement of these counterfeit currencies for atlest some time. We can see the effect from the very first day as the holder of black money was throwing there black money in the river like Ganga and Yamuna and some are burning there black money. It has been observed that there is a great downfall in the terrorist activities in Kashmir valley and counterfeit of currency notes.

2.    IMPACT OVER THE SUPPLY OF MONEY IN SHORT TERM AND IN LONG TERM: – As the old 500 and 1000 note become scrap and new currency of 500 and 2000 will take quite a lot of time to get in circulation in a short run and black money will not enter into the market so which will reduce the supply of black money permanently and when the money get into circulation than there will be no problem.

3.    IMPACT OVER BANK: – Since 500 and 1000 note are now not been considered as a legal tender but it can get deposited and exchange in the bank up to a certain extent. This will lead to more and more deposits in current and the saving account of the person. Now government will have full eye upon all the transaction. This in turn leads to more liquidity position of the bank which may enhance the lending power to the customer.

4.    Impact over Price: – One of the major impacts of this demonetization will be seen over the products whose price increased because of demand. The impact is seen mainly over major categories i.e.; Consumer goods and Real Estate.

  Real Estate and Property prices in this sector can experience a fall, especially in case for the sales of properties because in this sector major transaction take place with cash rather than bank transfer or cheque transaction.

Demand of the consumer goods are expected to fall as for some time till they don’t have enough cash or change their payment method to cheque or card payment.

5. INCREASE IN ONLINE TRANSACTION OR ALTERNATIVE PAYMENT MODE: -As with the withdrawal of currency note from the economy cashless transaction will increase which in turn lead to modernization which is most important to expand the economy government is taking more and more initiative towards promotion of cashless economy i.e. doing payment through debit card and credit card or promoting online payment like paytm, freecharge, etc.

6.    Impact on black money hoarders: – The main focus behind this historical decision is to curb black money. A recent study had pegged India’s black market economy at over Rs 30 lakhs crore or about 20 percent of total GDP. This is much vast than the GDP of countries like Thailand and Argentina. This decision will in turn lead to great impact over the Black Money holder.

7. IMPACT OVER THE POLITICAL PARTY: – Recently in 2017 there will be election in five states demonetization has great shock over political parties. Especially, in large states like Punjab and Uttar Pradesh, a cash donation has a huge impact over “election management” this is really a great move by the Prime Minister Mr. Narendra Modi. As big parties invest crore during election which they have horde with themselves as a black money.

Therefore all the issues which are arising by these politicians are only because of their black money has gone waste and election is near and they don’t have white cash in their hand.

Author: This blog is written by  Ms. Ayushi Mehrotra, student of Bharati Vidyapeeth Deemed University New Law College, Pune, a passionate blogger & intern at  Aapka Consultant.

How Aapka Consultant can help you:-

• Get free expert consultancy from experts.
• We available every time to solving your legal queries.
• Get one stop solution for all legal compliances.
• Process application within 24 Hours.
• Trusted by Most Valuable Startups.
• We Understand Startup Budget & their needs.
• Get quality services at pocket price.

Visit: Aapka Consultant to get Online Services of CA CS & Lawyers.

Budget 2016 Highlights

Finance Minister Arun Jaitley presented the budget of 2016-17 and following were the points made by him during his speech: –

1. Government should focus on rural sector, infrastructure, social sector and

recapitalise various banks. It should also prioritize its expenditure.

2. Aadhar Card and its schemes shall be statutory backed in the near future.

3. 70% of population of India resides under rural areas and hence 100%

rural electrification will be accomplished by May 2018.

4. In rural areas good quality medicines are rarely available and hence 3,000

new Jan Aushadhi stores are to be established in such parts of India.

5. Fiscal deficit target retained at 3.5 per cent of GDP.

6. Swaccha Bharat Abhiyaan (Clean India Mission) is a flagship program of

Prime Minister Narendra Modi covering 4,041 cities and towns, to clean

the streets and roads of the country. It was officially launched on 2nd

October 2014 and is India’s biggest ever cleanliness campaign. Hence to

increase its efficiency Rs. 9,000 Crores are allocated.

7. PSU Insurance Companies to be listed.

8. On the birthday of Dr. B.K. Ambedkar government has decided to unify

arigculture market e-platform.

9. 100% FDI to be allowed in Food Products Produced and Marketed in

India through FIPB route.

10. For the next year the government would undertake strong transformative

measures based on 9 pillars for India (Agriculture, Fiscal and Tax

reforms, rural sector, ease of doing business, social sector, governance,

education skills/job creation, financial sector reforms, infrastructural

investment).

The entire budget has been divided into 9 different parts whose reforms are

mentioned below:-

Tax:

• Infrastructural and agricultural cess to be levied.
• SUVs and Luxury cars shall be more expensive. For SUVs 4% high capacity tax to be levied.
• All tobacco products other than beedis are to be more expensive since excise duty on them are raised from 10 to 15 per cent.
• 0.5 per cent Krishi Kalyan Cess to be levied on all services.
• Dividend in excess of Rs.10 lakhs per annum to be taxed at additional 10%.
• Limited tax compliance window shall be opened for people to declare there undisclosed income at 45 per cent incl. surcharge and penalties from June 1 – September 30.
• In order to reduce pollution, the government has initiated 1 per cent cess as pollution cess on small petrol, LPG and CNG cars. 2 per cent on diesel cars and lastly 4 per cent on higher-end models as their contribution to pollution is maximum.

Personal Finance:

• The government has made no changes in existing income tax slabs.
• Rs. 1,000 crores are allocated for new EPF (Employees’ Provident Fund) scheme.
• Income above Rs.1 crore is very rare and hence government has put 15 per cent surcharge on income above Rs.1 crore.
• In order to promote ‘Housing for All by 2022’ scheme, the government has decided to provide exemption from service tax to all those who are constructing houses of less than 60 sq.m.
• Moreover, apart from this provision the government has also provided exemption of Rs. 50,000 for housing loans up to Rs.35 lakhs, provided that the cost of house is not above Rs.50 lakhs.

Social:

• Rs. 38,000 crores for Mahtma Gandhi MGNREGA for 2016-17.
• In order to provide entrepreneurship among backward section of society the government shall create Hubs to support SC/ST entrepreneurs.
• The government under the scheme ‘Shyama Prasad Mukherji Rurban Mission’ shall create 300 urban clusters.
• Government has allocated Rs. 9,500 crores to Swachh Bharat Abhiyan.

Health:

• National Dialysis Service Program shall now be funded through PPP mode in order to provide dialysis equipment to all district hospitals.
• Senior citizen to get additional healthcare cover of Rs. 30,000 crores.
• Government to establish a new health protection scheme for health cover upto 1 lakh per family.
• PM Jan Aushadhi Yojana to be strengthened by opening 300 generic drug stores in various parts of India.

Education:

• In order to make enhance education standards, the government has decided to convert 10 public and 10 private institutes into world class institutes.
• Entrepreneurship training to be given across schools, colleges and through online courses.
• To provide good quality education, the government will establish 62 new navodaya vidyalayas.
• Digital literacy scheme to be launched to cover 6 crores additional rural households.

Energy:

• In order to generate more nuclear power, the government has earmarked Rs. 3,000 crores.
• Incentives shall be provided for deep-water gas exploration.
• Government has planned to exploit nuclear energy for the next 15-20 years.

Investments and Infrastructure:

• For roadways, government has allocated Rs. 27,000 crores.
• 2015 recorded highest production of motor vehicles.
• 100 per cent FDI in marketing food products that are produced in India.
• MAT to be applicable for startups that qualify for 100% tax exemption.
• Government to amend Motor Vehicle Act in passenger vehicle in order to encourage innovation.

Agriculture:

• Total allocation for farmers and agriculture sector is Rs. 35,984 crores.
• 5 lakh acres to be used for organic farming for at least 3 years.
• 28.5 lakh hectares of land to be used for irrigation.
• In order to recharge ground water and to prevent drought by methods of water conservation, the government has allocated Rs. 60,000 crores.

Banking:

• Disbursement under MUDRA is increased to 1,80,000 crores.
• Government to increase ATMs and Micro-ATMs in the next three years.
• Banks to get a big boost as government has allocated Rs. 25,000 crores towards recapitalization of public sector banks.
• General Insurance companies to be listed in the stock exchange.

Author: This blog is written by  Mr. Aman Tiwari, student of National Law University Odisha, Cuttack, a passionate blogger & intern at  Aapka Consultant.

How Aapka Consultant can help you:-

• Getfree expert consultancyfrom experts.
• We available every time to solving your legal queries.
• Get one stop solution for all legal compliances.
• Process application within 24 Hours.
• Trusted by Most Valuable Startups.
• We Understand Startup Budget & their needs.
• Get quality services at pocket price.

Visit: Aapka Consultant to get Online Services of CA CS & Lawyers.