2016-17 Union Budget:Highlights...

By: Team Ifairer | Posted: 29-02-2016

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2016-17 Union Budget:Highlights..., union budget 2016-17, budgets 2016, major highlights of budgets 2016-17, highlights of most awaited 2016-17 union budget, jaitley presents union budget 2016-17, union budget 2016-17, highlights of budgets, general articles, ifairer

-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.

union budget 2016-17, budgets 2016, major highlights of budgets 2016-17, highlights of most awaited 2016-17 union budget, jaitley presents union budget 2016-17, union budget 2016-17, highlights of budgets, general articles, ifairer

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