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Monday, February 29, 2016

Union Budget 2016-17

Press Information Bureau
Government of India
Ministry of Finance

29-February-2016 13:01 IST

 Limit of Deduction of Rent Increased from Rs.24,000 to Rs.60,000

100% Deduction of Profits for 3 out of 5 Years for Start-Ups

Withdrawal upto 40% of the Corpus to be Tax-Free at the time of Retirement

Deduction of Additional Interest of Rs.50,000 Per Annum for First-Time Home buyers  

New Dispute Resolution Scheme to be Introduced  

Thirteen Cesses Levied by Various Ministries having Revenue Collection less than Rs.50 Crore to be Abolished 

‘E-Sahyog’ and ‘E-Assessment’  to be Expanded Further 

100% Deductions for Profits to an undertaking in Housing Project for Flats up to 30 Sq. Mtrs.
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