Aryavart Geopolitics

Important Points from the Union Budget for The Financial Year 2025 The fiscal deficit is estimated at 4.9% of the GDP in FY 2025. The fiscal deficit is calculated as the government's total expenditure minus total receipts.  The 'Budget' word is not mentioned in the Indian constitution. It is mentioned as the "Annual Financial Statement" in article 112 of the constitution. Budget is prepared by the Budget Division of the Department of Economic Affairs in the ministry of finance. According to the article 266 of the Indian Constitution, Parliamentary approval is required to draw money from the Consolidated Fund of India. RK Shanmukham Chetty was the first finance minister of independent India. Morari Desai presented the budget ten times which is the maximum number of times by any finance minister in India till now.  Receipts estimates : The budget for FY 2025 estimates 31.3 lakh crore revenue receipts and 16.9 lakh crore capital receipts.  Expenditure estimates : T...

How Capital Gain Tax is calculated? Let's understand what are -Short Term Capital Gain Tax and  Long Term Capital Gain Tax. As we know that tax are categorised as direct tax and indirect tax. For example GST (goods and service tax) is indirect tax and Income tax is direct tax as it is paid by the same person on whom it is levied. The capital gain tax is also a direct tax. It is applied on the sales of all assets if the owner of the assets has made profit (gain) by selling the assets. Assets means property like house, equity shares, mutual funds etc. It can be classified into two -                      1) Short Term Capital Gain Tax.                       2) Long Term Capital Gain Tax. Now, let's understand these two types one by one in a layman terms: 1) Short Term Capital Gain Tax:- It applies if asset has been sold within 36 months of owning it. In this scenario the rate ...