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Budget updates - one and all

Budget - Dated:- 29-2-2016 - Pollution cess of 1 per cent on small petrol, LPG and CNG cars; 2.5 per cent on diesel cars of certain specifications; 4 per cent on higher capacity vehicles Plan and non-Plan classification of Budget will be done away with from Fiscal 2017-18 FM introduces one-time dispute resolution scheme for retro tax cases, payment of tax arrears to lead to waiving of penalty and interest High level committee headed by Revenue Secretary to oversee creation of fresh liability usi .....

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t home buyers to get additional deduction of ₹ 50,000 on interest for loan upto ₹ 35 lakh. Cost of house should not be more than ₹ 50 lakh. ₹ 900 cr provided to buffer fund created to moderate prices of pulses Service tax on single premium annuity to be reduced to 1.5 per cent from 3.5 per cent. Service Tax to be exempted on general insurance schemes under NIRMAYA Scheme. Target delivery of financial, other intermediary services will be introduced using Aadhar in this Bud .....

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00. To lessen burden on individuals with income not exceeding 5 lakh, propose sealing of tax rebate under sec 87A from 2000 to ₹ 5000. Govt to allow 100 per cent FDI through FIPB in marketing of food products produced and manufactured in India. Govt to bring new policy for strategic sale of CPSE assets. More FDI reforms proposed in insurance, pension, asset restructuring companies and stock markets. A new credit rating system for infrastructure will be developed. A Public Utility Resolutio .....

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