Live updates and discussion budget 16

 Ceiling of tax rebate for tax payers with up to Rs 5 lakh annual income to be raised to Rs 5000 from Rs 2000#union budget 2016

Presemtive income tax scheme to be extended to all professionals with income of Rs 50 lakh with a presumption of 50 per cent profit. # budget 2016

Service tax exempted for general insurance schemes under Niramayi Swasthya Bima Yojana# budget 2016

No change in tax slabs but some relief for the middle class # union budget 2016

Relief of Rs 3000 per year to taxpayers with income below Rs. 5 Lakh per year. 1 crore tax payers to benefit#union budget 2016

Service tax exempted for housing construction of houses less than 60 square metre: FM

Deduction for rent payers raised from Rs 20,000 to Rs 60,000 to benefit those living in rented houses#union budget 2016

Krishi Kalyan Cess of 0.5% on all taxable services

Boost for startups! 100% tax deductions for new startups for first 3 years: #FM

Services provided by EPFO exempted from service tax: FM

To hike excise duty on tobacco: # union budget 2016