02
Feb BUDGET 2016-17

• (Category: Budget-Union Budget, EFFECTS ON YOU)

EFFECTS ON YOU

UNION BUDGET 2016-17

Senior Partner Paul Thangam writes…..

“

The
Union Budget 2016-17 presented by our Hon’ble Minister of Finance Shri.
ArunJaitley is a balanced budget where the Government has committed for
“minimum government maximum governance”. It has been proposed to provide Aadhar
a statutory framework and link the disbursement of subsidies and government
transfers with Aadhar. More emphasis has been given on creation of
infrastructure by way of faster completion of the existing road projects. Ease
of doing business has been the mantra of this Government and in line with it,
the permit raj of motor vehicles has been proposed to be abolished. On the
taxation front, the Indirect Tax collection has been proposed to be increased
by way of new levy of KrishiKalyanCess on Services, Infrastructure Cess on
Vehicles. Procedural simplifications have been brought about, rates of interest
have been rationalized, penal provisions amended, higher deductions for housing
loans, reduction in corporate tax rate for small companies & start-ups have
been proposed which are in the best interests of every tax paying citizen and
the business community”.

A detailed
analysis on the taxation proposal is presented for your valuable information.

4th Edition of “Effects On You”

Printed on : 01-03-2016