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TMI BlogUnion Budget 2016 Highlights - Economic issuesX X X X Extracts X X X X X X X X Extracts X X X X ..... Union Budget 2016 Highlights - Economic issues - Budget Dated:- 29-2-2016 - News - Union Budget 2016 Highlights. 1. ₹ 35984 crores allotted for agriculture sector. 2. ₹ 17000 crores for irrigation projects. 3. Two new Organic farming scheme for 5 lakh acres. 4. ₹ 19000 crores for Gram Sadak Yojana 5. ₹ 9 Lakh Crores Agriculture Credit Target. 6. ₹ 38500 cror ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es for MANREGA, highest ever. 7. ₹ 2.87 Lakh crores to be spent on Villages in total. 8. ₹ 9000 crores for Swach Bharat Mission. 9. ₹ 97000 Crores for Roads. 10. Total Outlay on Roads and railway ₹ 2.18 Lk Crores. 11. ₹ 2.21 Lakh Crores on Infra Projects. 12. NHAI to raise ₹ 15000 crores via NHAI Bonds. 13. More benches for SEBI Appellate tribunal. 14. R ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... egistration of Company in One Day for Start-ups. 15. ₹ 25000 crores for Banks rehabilitation. 16. 100% FDI for food processing. 17. Non planned expenditure of ₹ 14.28 Lk Crores. 18. Planned expenditure increased by 15.3% . 19. Relief Section 87A ₹ 2000 to ₹ 5000 20. Relief Sec 80GG ₹ 24000 to ₹ 60000 21. Section 44AD limits ₹ 1 crores to ₹ 2 c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rores. ₹ 50 Lakh for professional 22. Accelerated depreciation limited to 40% 23. New manufacturing companies will pay tax @ 25%. 24. LTCG on unlisted securities limited to 2 years. 25. 100% tax deduction for companies building houses upto 30 sq. mtrs. 26. Additional interest deduction for first house. 27. No service tax for building houses upto 60 sq mtrs. 28. 10% dividend tax for re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cipient over ₹ 10 lakh per annum. 29. TCS on purchase of asset over ₹ 2 Lakh in case and luxury cars. 30. VDS Scheme @ 30% + surcharge, Ist June to 30th September 2016. 31. Dispute resolution for appeal pending before Commissioner(Appeals). 32. Penalty for concealment of Income from 100-300% to 50-200%. 33. Rationalisation of TDS provisions. 34. 11 new benches for Income Tax Appe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... llate tribunal. 35. No face to face scrutiny. - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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