FM PROPOSE TO REDUCE THE TIME LIMIT OF ASSESSMENT IN PHASES, TIME PERIOD SHALL REDUCE TO 12 MONTHS IN 3 YEARS
SURCHARGE OVER INCOME ABOVE 50LACS
INDIVIDUAL TAX STRUCTURE INCOME UPTO 5 LACS REDUCED TO 5% REBATE 87A REDUCED UPTO RS. 2500 AND ALLOWED FOR PERSON HAVING INCOME 3.5 LACS
ANY PERSON CAN UNDERTAKE CASH TRANSACTION MAXIMUM UPTO 3 LACS.
TRUST CAN ACCEPT DONATIONS IN CASH IF IT IS BELOW RS. 2000 ONLY. PROMOTION OF DIGITAL TRANCTIONS IN DONATION. EVEN POLITICAL PARTY CAN ACCEPT DONATION…
FM REDUCED THE PRESUMTIVE INCOME RATE AT 6% FOR PERSON HAVING TURNOVER BELOW 2 CRORES, SAME RATE SHALL BE APPLY FOR THE F.Y. 2016-17 FOR…
BANKS TO PAY TAX ON RECEIPT BASIS FOR NPA ACCOUNTS
FM ANNOUNCES MSME TAX INCENTIVE, BY REDUCING THE TAX TO 25% HAVING ANNUAL TURNOVER LESS THAN 50 CRORES. 6.67 LACS COMPANIES WILL BE BENEFITS, 96%…
INSTEAD OF BUILD UP AREA CARPET AREA WILL BE COUNTED FOR AFFORDABLE HOUSE
TIME LIMIT ON LONG TERM CAPITAL GAIN ON SALE OF IMMOVABLE PROPERTY REDUCED TO 2 YEARS AGAINST THE OLD TIME PERIOD OF 3 YEARS.