THERE WAS NO CHANGE IN RATE OF EXCISE AND SERVICE TAX RATES

FM HAS NOT INCREASED ANY LIMITS IN EXEMPTION OF INCOME UPTO 2.5 LACS

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%…