Govt solidly behind PSU Banks. Will provide 25000 crore for banks recapitalisation. #UnionBudget2016 #BudgetwithCCI
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Live updates and discussion budget 16
Department of Disinvestment to be renamed as Department of Investment and Public Asset Management
The fiscal target has been set 3.5% of the GDP
Fiscal deficit for FY 2016-17 targeted at 3.5%
Rebate under section 87A increased from 2000 to 5000:FM
80GG regarding deduction on rent paid limit increase from 24000 to 60000 P.A:FM
44 AD upto 2 crs no audit
Corporate Tax rate @ 29%+Surcharge+Cess for companies having turnover <5 lacs:FM
NO CHANGE IN TAX SLAB:FM
Relief to those in rented houses: deduction raised from Rs 24,000 to Rs 60,000 under Section 88G
Corporate income tax: Incentives for new manufacturing companies and relatively small enterprise companies
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