Taxation for FY16- FY17
DSIJ Intelligence / 29 Feb 2016
Slab of tax exemption raised to Rs 60000 from Rs 24000.
1) Slab of tax exemption raised to Rs 60000 from Rs 24000.
2) 10 to 15 per cent excise duty hike.
3) Ceiling of tax rebate for taxpayers with up to Rs 5 lakh annual income will be raised from Rs 2,000 to Rs 5000.
4) Broad income tax slabs remain at the same levels as last year.
5) 10 per cent dividend distribution tax to be levied upon income of Rs 10 lakh from dividends
6) Capital gains not to be taxed on investments in regulated fund of funds for start-ups. LTCG period for unlisted companies reduced to 2 years.
7) Clean energy cess for coal Rs 400/tonne.
8) Raised excise duty on most tobacco products by 10 to 15 per cent.
9) Voluntary disclosure of income for black money enabled.
10) Propose to hike STT for Options to 0.05 per cent.
11) Dividend distribution tax exempted from Real Estate Investment Trusts (REITs).
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