Budget 16-17

1) Direct tax  - less than 5 lakhs  - 87A raised to  5000

2) Under Section 80GG, an Individual can claim deduction for the rent paid even if he don’t get HRA. Not many people are aware of this deduction. THIS IS RAISED FROM 24000 TO 60000.

3) No Srvice tax on Construction for houses  of 60 sq.m [ 600 sq.ft] and less.

4) 10% Dividend tax for dividends above 10 lakhs

5) shop keepers and small manufactureres  upto 2 cr turn over can show 8% profits  without acccount books

6) professionals upto 50 lakhs can have  presumptive profits of 50% without books.

Thanks Mr.Shiroor