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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, .....

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of 5 years for start-ups, during April, 2016 to March 2019, with certain riders. Similarly to promote innovation, a special patent regime with 10% rate of tax on income from worldwide exploitation of patents developed and registered in India was prop .....

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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 b .....

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ayal Upadhyay Grameen Kaushalya Yojana and services provided by Assessing Bodies empanelled by Ministry of Skill Development and Entrepreneurship are also proposed to be exempted. The determination of residency of foreign company on the basis of Plac .....

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ing trusts of ARCs has been proposed. The income will be taxed in the hands of the investors instead of the trust. The Finance Minister also enunciated a plan for phasing-out various exemptions as the corporate tax is proposed to be reduced from 30% .....

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