BUDGET 2016 UPDATES

BUDGET 2016 -UPDATES

12:41 PMMonday

Tax proposals will bring additional revenue of Rs. 19,610 crores to Govt. exchequer: FM

12:38 PMMonday

No higher withholding tax if non-resident does not have PAN but furnishes an alternative document

12:38 PMMonday

FM proposes to rationalize TDS provisions

12:38 PMMonday

FM proposes to amend Section 14A; disallowance under Sec. 14A should not increase the actual expenditure

12:37 PMMonday

FM proposed to introduce limited period compliance window for domestic taxpayer to declare domestic black Money

12:36 PMMonday

11 news benches of CESTAT proposed to be setup

12:35 PMMonday

FM has announced introduction of one time dispute resolution Scheme for cases already pending due to retro-amendment

12:34 PMMonday

Services provided by EPFO exempted from service tax: FM

12:34 PMMonday

A new dispute resolution scheme is introduced, no penalty upto disputed amount of 10 lacs

12:33 PMMonday

Services provided by EPFO exempted from service tax: FM

12:30 PMMonday

FM proposes to increase excise duty on tobacco products from 10% to 15%

12:28 PMMonday

Excise duty on branded ready made garments rised to 6% without input credit from Nil

12:27 PMMonday

Surcharge raised from 12% to 15% on incomes above 1 Crore

12:27 PMMonday

Additional exemption of Rs. 50,000 for housing loans up to Rs. 35 lakh, provided cost of house is not above Rs. 50 lakh

12:26 PMMonday

Krishi Kalyan Cess 0.5%to be levied on all taxable services

12:22 PMMonday

FM has proposed to provide tax exemption on withdrawal of 40% from national pension Scheme at the time of retirement

12:21 PMMonday

40% Withdrawal from Super Annuation Funds proposed to be tax exempt

12:18 PMMonday

POEM proposed to be deferred by 1 year

12:18 PMMonday

Complete pass through proposed for trust of ARCs

12:17 PMMonday

Capital gain exemption proposed for investment in start-up

12:16 PMMonday

Corporate tax reduced to 29% for small business having turnover less than 5 crores

12:15 PMMonday

Reduction in corporate tax - New manufacturing companies after March 1, 2016 have to pay tax at 25%

12:15 PMMonday

Presumptive taxation scheme introduced for all professionals with receipts up to Rs. 50 lakhs.

12:13 PMMonday

FM increases the turnover limit of presumptive taxation Scheme to 2 crores

12:12 PMMonday

Deduction under Section 80GG for individuals paying rent but not receiving HRA proposed to be increased from Rs. 24,000 to Rs. 60,000.

12:11 PMMonday

Relief under Section 87A proposed to be increased from Rs. 2,000 to Rs. 5,000

12:06 PMMonday

Registration of Companies should be given in one day - Companies Act proposed to be amended

12:06 PMMonday

RBI Act to be amended to give statutory backing for monetary policy: FM

12:05 PMMonday

Comprehensive Code to be introduced to provide a specialised resolution mechanism for bankruptcy of banks/insurance companies: FM

12:04 PMMonday

Direct transfer of subsidies to farmers account will be introduced on pilot basis for fertilizers

12:01 PMMonday

RBI Act to be amended for providing framework for Monetary Policy Code: FM

12:00 PMMonday

SEBI Act proposed to be amended to provide more numbers of Securities Appellate Tribunal

11:58 AMMonday

Amendments proposed to SAFRAESI Act to tackle problem of stressed assets in ARCs

11:56 AMMonday

FM proposes various amendments to SARFAESI Act

11:54 AMMonday

A comprehensive code to provide bankruptcy resolution mechanism will be presented: FM proposes

11:52 AMMonday

100% FDI to be allowed in marketing of food products manufactured and produced in India

11:51 AMMonday

Public utility distribution bill to be introduced for resolution of dispute in construction contracts and PPP projects

11:47 AMMonday

Amendments to be made in Motor Vehicles Act; Entrepreneurs can ply buses on various routes subject to safety norms

11:44 AMMonday

Sec. 80JJAA deduction extended from only manufacturing units to all assessees who are subject to tax audit

11:44 AMMonday

Deduction under Section 80JJAA proposed to be extended to all assessee who are subject to tax audit

11:40 AMMonday

Govt. will pay 8.33% provident fund for new government employees for first 3 years, 1,000 crore budget proposed

11:38 AMMonday

Rs. 1700 crores allocated for Skill India Mission under Pradhan Mantri Kaushal Vikas Yojna

11:37 AMMonday

Regulatory framework will be provided to 10 public and 10 private institutions to become world class educational institutions

11:35 AMMonday

National SC/ST hub will be created to provide professional support to SC/ST entrepreneurs

11:35 AMMonday

Stand up India scheme to promote SC & ST entrepreneur: FM

11:35 AMMonday

Certain Dialysis equipment are proposed to be exempted from Basic Custom Duty, Excise Duty and CVD

11:34 AMMonday

Govt will launch new health protection scheme to provide health cover of Rs. 1 Lakh

11:34 AMMonday

National Dialysis Service program is proposed in all district hospitals

11:32 AMMonday

Health Insurance of Rs. 1,00,000 with top up of Rs. 30,000 proposed for senior citizen

11:30 AMMonday

New mission to provide LPG connection in name of female poor members, Scheme for 2 years

11:30 AMMonday

2,000 Crores allocated to provide LPG connections to poor families: FM

11:28 AMMonday

Digital India initiatives - Digital literacy mission for rural India to cover 6,000 additional households: FM

11:26 AMMonday

Till Feb 23, 5542 villages have been electrified, which is higher than the work done in last 3 years in aggregate: FM

11:25 AMMonday

Rs. 38000 crore proposed to be spent on MANREGA in FY 16-17

11:23 AMMonday

Union Budget 2016 built on 9 pillars 1) Agri/Farm and welfare 2) Rural Focus 3) Social Healthcare 4) Education and Job creation 5) Investments to improve quality of Life 6) Infratructure Focus 7) Ease of Business 8) Fiscal discipline

11:22 AMMonday

Provision of Rs. 15,000 crores is proposed to reduce burden of farmers loan: FM

11:20 AMMonday

Unified agriculture e-market platform will be provided: FM

11:20 AMMonday

Finance Minister proposes twofold increase in fund allocation for Pradhanmantri Sadak Yojna

11:17 AMMonday

FM: Nominal premium and highest ever compensation in case of crop loss under PM ‘Fasal Bima Yojana’

11:16 AMMonday

Farm, rural sector, infra, social sector to have more Government expenditure, says FM

11:14 AMMonday

We need tax reforms to reduce tax compliances: FM

11:13 AMMonday

Govt to focus on passing of GST and Bankruptcy laws: FM Arun Jaitley

11:11 AMMonday

Govt. will start initiative to provide free gas connection to BPL families: FM

11:10 AMMonday

FM Arun Jaitley: We have bridged the trust deficit created by the previous government

11:08 AMMonday

Forex reserves at highest level and fiscal deficit has declined: Arun Jaitley

11:06 AMMonday

Growth of GDP accelerated, CPI inflation come down: FM

11:05 AMMonday

Arun Jaitley takes a jibe on Congress

11:04 AMMonday

Arun Jaitley begins his budget speech

11:01 AMMonday

Budget speech shall begin shortly

9:50 AMMonday

Arun Jaitley reach Parliament

9:35 AMMonday

Big announcements to promote start-ups eagerly looked forward to

9:35 AMMonday

Announcements could be made to give big thrust to ‘make in India’ policy

9:35 AMMonday

Jaitley may doll out tax sops to Start-ups

9:34 AMMonday

Corporate tax rate expected to be reduced as announced in the last Budget

9:34 AMMonday

Personal tax exemption limit may increase as same is unchanged since last 2 years

9:34 AMMonday

Service-tax rate likely to be increased to 16%

9:34 AMMonday

Certain corporate tax exemptions likely to be removed

9:34 AMMonday

Age-old threshold limits of TDS should be increased

9:34 AMMonday

Substantial amendments expected to the Income-tax Act to avoid litigations

9:34 AMMonday

Certain announcements could be made to lay a roadmap for GST

9:34 AMMonday

Threshold exemption limit of service tax likely to be increased

9:33 AMMonday

Fate of unutilized EC and SHEC could be decided

9:33 AMMonday

Swachh Bharat Cess likely to be included in the Cenvat Chain

9:32 AMMonday

Some changes may be made on lines of BEPS recommendations

9:32 AMMonday

Clarity needed over taxability of marketing intangibles

9:32 AMMonday

Refund procedures in indirect taxation can be eased

9:32 AMMonday

Clarification expected on meaning of ‘Place of removal’

9:31 AMMonday

Be it a common man, average taxpayer or tax experts - all eyes transfixed on Union Budget, 2016

9:31 AMMonday

Arun Jaitley will table his third Union Budget in the Parliament