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2016-17 Union Budget:Highlights...
-EPF at 8.3 per cent for new employees joining the scheme.
-Direct Benefit Transfer for fertilizer subsidy.
-Dept of Disinvestment renamed as Dept of Investment and Public Asset Management.
-Rs. 900 crore for buffer stock of pulses.
-Amendment to the Companies Act to ensure speedy registration and boost start-ups.
-Fiscal deficit at 3.5% of GDP in 2016-17.
-Classification of expenditure as plan and non-plan to be done away with.
Rs. 100 crore for Deendayal Upadhyay's birthday celebrations and Guru Gobind Singh 300th birth anniversary.
-Ceiling under 87A to be increased to Rs. 3,000.
-Lowering of Corporate IT rate for companies not exceeding Rs. 5 crore turnover to 25% plus surcharge.
-Tax holiday for startups for three of five years of setting up the
-40% of withdrawal at the time of retirement under National Pension Scheme to be tax exempt.
-Additional exemption of Rs. 50,000 for housing loans up to Rs. 35 lakh, provided cost of house is not above Rs. 50 lakh.
-1 per cent service charge on purchase of luxury cars over Rs. 10 lakh and in-cash purchase of goods and services over Rs. 2 lakh.
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