Beruflich Dokumente
Kultur Dokumente
* Ceiling of tax rebate for tax payers with up to Rs 5 lakh annual income to be
raised to Rs 5,000 from Rs 2,000
* Relief of Rs 3,000 per year to taxpayers with income below Rs 5 lakh per
year, 1 crore tax payers to benefit
* Deduction for rent payers raised from Rs 20,000 to Rs 60,000 to benefit
those living in rented houses
* Consolidation roadmap for public sector banks next year
* Suitable changes to be made in customs and excise duty rates to improve
competitiveness and boost Make in India
* Incentives for new manufacturing companies and smaller enterprise
companies
* Service Tax Exemption for services under the Deen Dayal Gram Jyoti Yojana
* HRA deduction up from 24,000 to 60,000 per annum
* 100% deduction for profits of undertakings from housing projects in cities
during Jun'16 - Mar'19
* Krishi Kalyan cess to be imposed on all taxable services for agricultural
sector
* 15% surcharge on income tax for those with incomes exceeding 1 crore per
annum
* Clean energy cess increased from RS. 200/ton to 400/ton on coal, lignite
and peat
* Limited period compliance window for taxpayers to declare undisclosed
income. Declarations to have immunity from prosecutions
* Govt to introduce bill to amend Companies Act for ease of doing business; to
enable registration of companies in a day
* Clean Energy Cess to renamed as Clean Environment Cess
* Limited tax compliance window: 45% including surcharge and penalties and
immunity from prosecution
* Levy of heavy penalty for non payment of tax has led to high litigation.
Proposal to modify scheme for penalties
* To reduce multiplicity of taxes and cascading - 13 taxes with collection less
than Rs 50 crore a year abolished
* Income tax department will expand e-sahyog to assist small taxpayers