Composite cap on insurance FDI increased to 49%
: BUDGET HIGHLIGHTS -
1. PPF Deposit Limit enhanced from 1 Lac to 1.5 Lac per year.
2. New Accounting Standards will be applicable from year 2017
3.Individual slab rate increased to 2.5 lac and for senior citizen 3 lac.
4. Sec. 80C limit increased to 1.5 lacs.
5. Housing Loan Int. Limit enhanced to 2 lac
6. 10 year tax holiday for power companies starting production and distribution on or before March 31, 2017
7. Govt. shall considers pubic comments received on New Direct Tax Code.
8 15% allowance to manufacturing companies investing Rs20 crores in plant and machinery.
9 Cigarettes, Cigars, Pan Masala, Gutka to attract more excise duty. Import duty on steel increased from 5% to 7.5%. Imported electronics goods to cost more. A cess to be introduced
10 Footwear to go cheaper - excise duty reduced from 12% to 6%. TV sets, Solar power units, computers, oil products, soaps becomes cheaper
P.S - Some data may be incorrect plz cross check from other sources too.
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