February 29, 2016
Jubel
HIGHLIGHTS OF UNION BUDGET 2016 - 2017
Personal Finance
No changes have been made to existing income tax slabs
Rs 1,000 crore allocated for new EPF (Employees' Provident Fund) scheme
Govt. will pay EPF contribution of 8.33% for all new employees for first three years
Deduction for rent paid will be raised from Rs 20,000 to Rs 60,000 to benefit those living in rented houses.
Additional exemption of Rs. 50,000 for housing loans up to Rs. 35 lakh, provided cost of house is not above Rs. 50 lakh.
Service tax exempted for housing construction of houses less than 60 sq. m
15 per cent surcharge on income above Rs. 1 crore
Social
Rs. 38,500 crore for Mahtma Gandhi MGNREGA for 2016-17
Swacch Bharat Abhiyan allocated Rs.9,500 crores.
Hub to support SC/ST entrpreneurs
Government is launching...
