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T U ES DAY, M A R C H 0 1 , 2 0 1 6

Vol. XCII No. 52

TUESDAY, MARCH 01, 2016

INDIA UNINTERRUPTED

MOST GAIN,
SOME LOSE IN
JAITLEYS BIG
RURAL PUSH
HT, along with knowledge partner Deloitte, tells you how
the finance ministers budget proposals could
affect individuals, investors, companies,
farmers and the youth

WHAT THE BUDGET

MEANS FOR YOU
INDIVIDUALS
LESS TAX>> Tax rebate of `5,000 for
those earning up to `5 lakh from `3,000
earlier; sovereign gold bond and rupeedenominated bonds proposed to be exempt
from tax
MORE SAVINGS>>Individuals residing in
rented homes and not receiving HRA granted an additional exemption of `36,000

HOME LOANS >> First-

time home buyers will get

an additional deduction of
`50,000 on interests on
loans up to `35 lakh; time
limit for acquiring/ completion of house property
to claim benefit on interest increased to 5 years
from 3 years

Aerated drinks, balloons,

imitation jewellery could get
costlier; services to get
costlier due to of cess for
agriculture welfare
EPF withdrawal taxable for contributions made after April 1, 2016

INVESTORS
RETRO CLARITY>> FM has clarified on
the controversial retrospective tax. No
more fresh cases. Implementation of tax
avoidance rule GAAR deferred till 2017

PE PEP TALK>> In continuation of earlier norms for fund managers in India, the
benefits have been extended to funds registered outside India

INFRA & REALTY>>

Tax incentives for infra and

realty investment trusts
(REITS) in the form of
exemption from dividend
distribution tax; clarification on non-applicability off
MAT provisions on FIIs

Changes announced in laws to make

country-by-country reporting
mandatory for Indian multinationals
to adopt global base erosion and
profit shifting (BEPS) norms. Indian
companies with global operations
com
and minimum revenues of 750 million euros will be affected

COMPANIES
START UP INDIA>> Tax breaks and

incentives to newly set up domestic manufacturing companies; corporate income tax

rates for such companies reduced to 25%
against general rate of 30%

PATENT PUSH>> To boost R&D, income

from royalty on patent developed in India

to be taxed at 10% against the general 30%

TAX AID>> Presumptive

taxation scheme for
professionals; presumptive tax threshold doubled to `2 cr

Increase in tax audit

limit for professionals
from `25 lakh to `50
lakh

10% dividend distribution tax

(exceeding `10 lakh) received by
individuals, HUFs and Indian firms
Minimum Alternate Tax (MAT) made
aapplicable on start-ups
G
General corporate income tax rate
remains unchanged at 30%
re

FARMERS
MORE IRRIGATION>> Pradhan Mantri

Krishi Sinchai Yojana to be implemented in

mission mode; 2.85 million hectares will be
brought under irrigation

LOAN RELIEF>> Govt to subsidise

farm loan repayment; a provision of

`15,000 crore has been made for
interest subvention

MARKETING>> Unified
agricultural e-platform
to provide a common
e-market platform for
wholesale markets

New Digital Literacy

Mission Scheme for
rural India

Weather-induced supply shocks

remain key concern; benefits of
most measures could take several
months to reach the farmer
S
State
governments would have to be
c
co-opted
for implementing many of
t schemes
the

YOUTH
SKILL DEVELOPMENT>> National

Board for Skill Development Certification to

be set up with industry and academia to
standardise curiculla

OPEN LEARNING>> Entrepreneurship

Education and Training through massive open learning courses

NEXT
PAGE

MULTI-SKILLED>>

1,500 Multi Skill Training

Institutes to be set up
Digital depository of school
& college degrees
Stand up India to help
entrepreneurship

Skill enhancement initiatives unlikely

to yield immediate results
Unless the persistent slide in exports
is arrested, employment creation in
key sectors could remain sluggish
Most
hopefuls may not match the
M
skill
s demand required for jobs

How does the budget proposals affect your savings,

investments and income? How will it change your tax
liabilities? How can you save more on taxes? Turn over to find out

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