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Birds eye view - What Budget says

Budget - Dated:- 29-2-2016 - 19,610 cr of net revenue gain from direct & indirect taxes High-level Committee Chaired To Allay Fears Of Retro Tax Corp tax to be cut to 29% from FY18 for cos with turnover less than ₹ 5 cr Creating 11 new benches of Indirect Tax tribunal Propose to rationalise norms for tax deducted at source Dividend Tax rate of 10% for individuals/HUF if dividend in excess of 10 lk/annum Propose to abolish 14 different cesses levied by ministers Skill development reform .....

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ken to deepen corporate bond market Raise personal I-T house rent exemption to 60,000 from 24,000/yr To enable non institutional investors to invest in ARCs Turnover limit of 2 cr for SMEs Department of Disinvestment to be renamed as Department of Investment and Public Asset Management Govt stands firmly behind public sector banks Will undertake massive nationwide of ATMs in the next 3 years To propose introduction of DBT in fertilizer on pilot basis Total resources allocated to states 99681 cr .....

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I act to increase benches in SAT 25,000 cr for bank recap Comprehensive framework to deal with CIS schemes 100% FDI through FIPB route in marketing of food products marketing will be allowed To announce 3 initiatives in reinvigorate pvt sector SEBI to bring new derivative pdts for commodity markets Tax of 10% in the hands of dividend recipients above 10 lk Propose New Dispute Resolution Scheme Offering limited period compliance window for undisclosed income Voluntary disclosure of income for bla .....

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ome buyers an additional deduction of interest of 50,000 provided value of house does not exceed ₹ 50 lakh Tax exempt 40% of withdrawal from NPS at retirement Propose 100% deduction to undertakings for construction of affordable housing DDT exempted from REITs Propose to make some changes in customs, excise duty rates Propose to implement GAAR from April 1, 2017 Propose complete passthrough of IT to trusts of ARCs Govt to open up the road transport sector in the passenger segment Abolition .....

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for renegotiation of PPP contracts To introduce public utility resolution bill Calibrated market prices for gas based on landed price of alt fuels Propose to develop 10 of 25 non-functional airstrips To incentivise gas production from deep sea & ultra deep waters To partner state govts to rejuvenate regional airports To amend motor vehicle act to open up road passenger sector Necessary amendments to open up road transport for passenger seg Allocate 55,000 cr for roads highways; excl 15,000 .....

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senior citizens above 60 years Propose to exempt parts of dialysis equipment from basic customs duty Propose to launch new health care scheme with 1 lk as cover per family Need to adopt prudent fiscal strategy Must rely on domestic demand since foreign mkts are weak Allocate ₹ 2,000 cr for initial cost of LPG connection to women members Mission to provide LPG gas connection to women household members Embark on a mission to give LPG connection to women in poor households Looking at reformin .....

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