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List of Relief Hike and Schemes undertaken in Union Budget 2016-17
- 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.
- Infrastructure access to be levied.
- No changes have been made to existing income tax slabs.
- Limited compliance window for domestic tax payers who have undeclared income.
- 4% high capacity tax for SUVs.
- Committed to stable taxation regime. No more retrospective amendments.
- Excise duty on tobacco increased by 10-15 per cent.
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