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FM Tax Proposals are aimed at Boosting Economic Growth and Employment Generation

Budget - Dated:- 29-2-2016 - The Union Finance Minister Shri Arun Jaitley announcing the tax proposals in the Union Budget today said boosting employment generation through economic growth is a main objective behind these proposals. Other objectives, he said, would be for incentivizing Make in India , to promote measures for moving towards a pensioned society and for promoting affordable housing. Such provisions to boost economic growth and employment include-100% deduction of profits for 3 out .....

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companies with turnover not exceeding ₹ 5 crores (in the financial year ending March 2015) is proposed to be lowered to 29 % plus surcharge and cess. The new manufacturing companies which are incorporated on or after 1.3.2016 are proposed to be given an option to be taxed at 25% plus surcharge and cess provided they do not claim profit linked or investment linked deductions and do not avail of investment allowance and accelerated depreciation. Service tax on services provided under Deen D .....

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