The college organised a webinar “Budget Briefings: Discussion on the Union Budget”. The session was conducted by Sarvesh Mundra. He gave all the students brief impression on the budget. He highlighted certain points. In a year when the world was ravaged with the COVID19 pandemic.
Finance Minister gave health the attention it merited. Health allocation jumped 137% to Rs 2,23,846 crore in 2021-22 compared with Rs 94,452 crore in 2020-21. The Government provided Rs 35,000 crore for the Covid-19 vaccine, and promised to provide further funds, if required. While no changes have been proposed to the personal tax rates, the budget contains various relief measures and proposals to facilitate ease of compliance for the taxpayers. The budget also proposes taxing certain income such as interest accruing in relation to Provident Fund contributions exceeding specified limit, which are presently not subject to tax.
Mr. Vivek Bajaj, an alumnus of IIM and a chartered accountant, also a trader in capital markets. He picked up different sectors and the implication of the budget on those sectors. The Union Budget 2021 had a massive impact on the Indian markets on that day. The benchmark indices, which is Sensex and Nifty recorded the highest budget day gains in more than 2 decades. Nifty was up 4.74% to 14,281.2 and Sensex was up 5% to 48,600.61.
Prof. Mohit Agarwal, faculty of the college spoke about the tax proposals:The theme for the direct tax proposal was simplification of the tax administration, ease of compliance and reduction of litigation. The key aspects of the direct tax proposals impacting individual taxpayers are Extension of home loan interest tax break and Introduction of section 89A. Certain tax proposals include the Hon’ble Finance Minister Smt. Nirmala Sitharaman presented Finance Bill 2021 and accordingly some changes have been proposed in Indirect Tax Laws.
All the changes in the rate of tax has taken effect from the midnight of 1st of February 2021. Whereas all the amendments in the finance Bill 2021 will come into force from the date of notification issued by the authority.
There were 62 students who attended the webinar and the feedback collected at the end suggested that another webinar like this should be organised.
” Chase the vision not the money, the money will end up following you “. -Tony Hsieh , CEO Zappos The Bhawanipur Entrepreneurship and Start-up Training Collective had Organised an Orientation to Entrepreneurship workshop with the goal of motivating students, to have a better understanding of their entrepreneurial personality, changing self-concept and values with the …
Fagun – BESC Celebrates Spring in the Air True to its traditions of inclusiveness, BESC honours the services of the members of its non-teaching staff making sure that the vibrant hues of Holi add a dash of colours to lives dedicated to the institution and the cause of the students it espouses. In its inimitable …
The industrial tour committee of the Department of Commerce (Afternoon and Evening Section) organised an industrial tour from the 6th to 11th June 2023. 42 students of different semesters were accompanied by seven teachers and mentors for the visit. The Tour gave an opportunity to all to gain an insight into the production, packaging, branding, …
Formed in the year 2002, Young Indians (Yi) is a movement for Indian Youth to converge, lead, co-create and influence India’s future, the voice of Young Indians globally. As an integral part of the Confederation of Indian Industry (CII), a non-government, not-for-profit, industry-led and industry managed organization playing a proactive role in India’s development process. …
BUDGET BRIEFINGS: Discussion on the Union Budget
The college organised a webinar “Budget Briefings: Discussion on the Union Budget”. The session was conducted by Sarvesh Mundra. He gave all the students brief impression on the budget. He highlighted certain points. In a year when the world was ravaged with the COVID19 pandemic.
Finance Minister gave health the attention it merited. Health allocation jumped 137% to Rs 2,23,846 crore in 2021-22 compared with Rs 94,452 crore in 2020-21. The Government provided Rs 35,000 crore for the Covid-19 vaccine, and promised to provide further funds, if required. While no changes have been proposed to the personal tax rates, the budget contains various relief measures and proposals to facilitate ease of compliance for the taxpayers. The budget also proposes taxing certain income such as interest accruing in relation to Provident Fund contributions exceeding specified limit, which are presently not subject to tax.
Mr. Vivek Bajaj, an alumnus of IIM and a chartered accountant, also a trader in capital markets. He picked up different sectors and the implication of the budget on those sectors. The Union Budget 2021 had a massive impact on the Indian markets on that day. The benchmark indices, which is Sensex and Nifty recorded the highest budget day gains in more than 2 decades. Nifty was up 4.74% to 14,281.2 and Sensex was up 5% to 48,600.61.
Prof. Mohit Agarwal, faculty of the college spoke about the tax proposals: The theme for the direct tax proposal was simplification of the tax administration, ease of compliance and reduction of litigation. The key aspects of the direct tax proposals impacting individual taxpayers are Extension of home loan interest tax break and Introduction of section 89A. Certain tax proposals include the Hon’ble Finance Minister Smt. Nirmala Sitharaman presented Finance Bill 2021 and accordingly some changes have been proposed in Indirect Tax Laws.
All the changes in the rate of tax has taken effect from the midnight of 1st of February 2021. Whereas all the amendments in the finance Bill 2021 will come into force from the date of notification issued by the authority.
There were 62 students who attended the webinar and the feedback collected at the end suggested that another webinar like this should be organised.
Covered by – Ankush Ghosh
Related Posts
Orientation to Entrepreneurship
” Chase the vision not the money, the money will end up following you “. -Tony Hsieh , CEO Zappos The Bhawanipur Entrepreneurship and Start-up Training Collective had Organised an Orientation to Entrepreneurship workshop with the goal of motivating students, to have a better understanding of their entrepreneurial personality, changing self-concept and values with the …
Fagun – BESC Celebrates Spring in the Air
Fagun – BESC Celebrates Spring in the Air True to its traditions of inclusiveness, BESC honours the services of the members of its non-teaching staff making sure that the vibrant hues of Holi add a dash of colours to lives dedicated to the institution and the cause of the students it espouses. In its inimitable …
Industrial Visit to Darjeeling & Chalsa
The industrial tour committee of the Department of Commerce (Afternoon and Evening Section) organised an industrial tour from the 6th to 11th June 2023. 42 students of different semesters were accompanied by seven teachers and mentors for the visit. The Tour gave an opportunity to all to gain an insight into the production, packaging, branding, …
The Bhawanipur joins in YI (CII) Youth Meet
Formed in the year 2002, Young Indians (Yi) is a movement for Indian Youth to converge, lead, co-create and influence India’s future, the voice of Young Indians globally. As an integral part of the Confederation of Indian Industry (CII), a non-government, not-for-profit, industry-led and industry managed organization playing a proactive role in India’s development process. …