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Indian Budget 2018-19: Effects on Real Estate, MSMEs and Rural Agriculture Sector

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With the intent of holistic development, the Indian government has initiated several new measures in this year’s budget. From MSMEs and rural agriculture sector to real estates, every initiative has been taken with the govt’s view to encouraging employment and fueling growth in the economy.

Business Income: Benefits to MSMEs and Agriculture Sector

  1. Tax rates have been reduced to 25% for the companies having reported turnover of ₹250 Crores. This has been done in order to extend the benefit to the entire class of MSMEs, which account for almost 99% of the companies filing tax returns. This would also help in creating more jobs.
  2. 100% tax deduction to the companies registered as Farmer Producer Companies with an annual turnover up to ₹100 Crores on profit derived from such activities for a period of 5 years from the financial year 2018-19. This has been proposed with the view of promoting post-harvest agricultural activities.
  3. In order to encourage the creation of new employment the 30% deduction to emoluments to new employees has been extended to footwear and leather industry with a further relaxation in the minimum employment period of 150 days. 30 percent deduction has been rationalized by allowing the benefit for a new employee who is employed for less than minimum period (240 days) during the first year but continues to remain employed for a minimum period in the subsequent year.


Real Estate
In the Union Budget 2018, the government has proposed that no additional tax will be payable by the sellers and buyers if the sale value of the property is within 5% of the Circle Rate. This has reduced the hardship of the buyers and sellers who would have to otherwise pay higher taxes in the localities where circle rate is higher than the market value.





References:
www.pwc.in

www.pib.nic.in








Vidya Ratan: Bachelor of Business Studies (Finance) graduate from SSCBS, DU. The views expressed are my own based on the analysis and research on the topic from various books, reports, and web articles. The articles published here cover a variety of economics, finance, and general awareness related topics.

In case you have any queries regarding any of my published articles please mail me at vidyaratan18@gmail.com