BUDGET INTERPRETATIONS

BUDGET INTERPRETATIONS

10% TDS introduced for PF withdrawal before 5 years

Buyback tax up from 22.66% to 23.07% for unlisted companies

Specific mutual fund service tax exemption withdrawn

Tax savings of Rs 7,169 cr due to raise in deduction limits

No capital gains tax on contribution to REITs

Service tax hike of 2.4% for non-economy class air travel

Fee for technical services rate reduced from 25% to 10%

Govt reduces royalty rates

Increase in surcharge leads to corporate tax moving up to 34.6% for FY16

Entertainment sector removed from service tax negative list

Excise duty on mineral water & aerated drinks increased to 18%

Total subsidy to be at Rs 2.27 lakh cr in FY16

Govt to impose additional swachh bharat cess of 2% on services

Total urea subsidy to be Rs 73,000 cr in FY16

Govt to sell stake in Hind Zinc, Balco and SUUTI in FY16

Govt to give Rs 1.08 lakh cr to states under non-plan spend against Rs 79,166 cr

Additional depreciation increased to 35% from 20% for new plants & machinery

Capital gains regime for equities extended to REITs

Salaried income above Rs 10 lakh comes in 30% tax bracket

Salaried income between Rs 5-10 lakh comes in 20% tax bracket

Salaried income up to Rs 2.5 lakh has nil tax, Rs 2.5-5 lakh in 10% tax bracket

Govt aims for Rs 2.08 lakh cr in customs tax revenue in FY16

Govt aims for Rs 2.29 lakh cr in excise tax revenue in FY16

Tax rate for domestic companies at 30% in FY16

Govt aims for Rs 4.7 lakh cr in corporate tax revenue in FY16

Govt aims to borrow Rs 4.56 lakh crore on net basis in FY16

Total divestment target for FY16 is at Rs 69,500 cr

Service tax exemption withdrawn on MF agents to AMC

Customs duty on commercial vehicles increased to 40% from 10%

Fuel subsidy at Rs 60,270 crore in FY15

Petroleum subsidy to be Rs 30,000 cr in FY16

Service tax exemption withdrawn on MF agents to AMC

Govt says divestment proceeds to be Rs 26,353 crre in FY15

Govt aims to receive Rs 41,000 crore from PSU divestments in FY16

Govt increases Service tax from 12.36% to 14%

Govt proposes to gain Rs 15,000 cr from overall tax tweaking

Govt allows additional deduction of Rs 50,000 for contribution to NPS

Govt to allow exemption of Rs 1.5 lakh under new pension scheme

Transport allowance exemption increased to Rs 1,600/month

Individual tax payer will see tax benefit up to income of Rs 4.44 lakh

Service tax exemption extended to pre-cold storage warehousing

Govt to increase limit of deduction of health insurance premium to Rs 25,000

Health insurance premium limit for senior citizens to be Rs 30,000

Govt to have 100% tax deduction for Swachh Bharat and Clean Ganga

Govt reduces excise duty on leather footwear to 6%

Govt proposes to exempt special additional duty on all items

Govt to increase excise duty to 12.5%

Govt abolishes wealth tax and additional surcharge of 2% on income over Rs 1 cr

Govt to reduce customs duty on 22 items

Income tax on royalty fees for technical reduced to 10%

Govt defer General Anti Avoidance Rule by 2 years

FM proposes to rationalise capital gains regime for REITs/InvITs

GST to be implemented from next year

FM says exemptions for individual tax players to continue

Govt proposes to reduce corporate tax rate to 25% from 30%

Govt says basic rate of corporate tax to be 25% over next 4 years

GST to be implemented from next year

Govt allocated Rs 33,150 cr towards healthcare

Govt proposes AIIMS in five more states

Govt proposes to set up IIM in J&K & Andhra Pradesh

Govt to launch a national skills mission to enhance employability of rural youth

Govt to strenghthen of national opticle fibre network

Govt to increase Visa on arrivals to 150 countries

Govt will target to put up projects worth 60,000 MW under Wind Power

Govt to allocate Rs 75 cr for electric vehicles

Govt to do away with distinction between FPIs and FDI

Govt to incentivise credit, debit card transactions

Govt to introduce Indian-made gold coins to reduce demand for foreign coins

FM says focus on housing for all

FMC to be merged with SEBI

Govt to set up 5 ultra mega power projects

Govt will establish national infra fund, to allocate Rs 20,000 crore

NBFCs with size of over Rs 500 cr will get access to SARFAESI

FM says investment in infra to go up by Rs 70,000 crore

Govt permits tax-free infra bonds for road, railways & infra projects

Govt provides Rs 5300 cr to support micrio irrigation

Govt aims for farm credit of Rs 8.5 lakh crore in FY16

Govt to allocate Rs 20,000 cr for Mudra Bank for SMEs

Direct transfer of benefits to be further expanded

Govt to look at divestment of strategic & non-strategic companies

Govt sees GDP at 8-8.5% in FY16

Govt to achieve 3% fiscal deficit in 3 years: FM

Govt says GST to be in place by April 1, 2016

Govt says will need to build additional 1 lakh km of roads

Govt to see 6 cr units of rural & urban housing by 2020

Railway Minister hiked freight rate by 10% for urea

Railway Minister hiked freight rate by 2.7% for cement

Railway will create a multilingual e-ticketing system

Surveillance cameras to be provided for women's security