Significant Budget Highlights 2016-17- Direct Taxes 1. Relief to small tax payers (a) Rebate under Sec 87A: With the objective of providing relief to resident individuals in the lower income slab i.e. total income not exceeding Rs. 5,00,000, section 87A…

Union Budget 2016 Highlights.  1. Rs. 35984 crores allotted for agriculture sector.  2. Rs. 17000 crores for irrigation projects.  3. Two new Organic farming scheme for 5 lakh acres.  4. Rs. 19000 crores for Gram Sadak Yojana  5. Rs. 9…

Tax Rates  1.    No change in the basic exemption limit and the tax rates of individuals  2.  Corporate tax rates proposed to be reduced from 30% to 25% over the next four years, starting from next financial year.  3.  The existing…