Union Budget 2016

‪#UnionBudget2016 ‬Highlights.... 1.Rs. 35984 crores allotted for ‪#agriculture‬sector. 2.Rs. 17000 crores for ‪#irrigation‬projects. 3.Two new Organic farming scheme for 5 lakh acres. 4.Rs. 19000 crores for ‪#GramSadakYojana ‬ 5.Rs. 9 Lakh Crores Agriculture Credit Target. 6.Rs. 38500 crores for ‪#MANREGA‬, highest ever. 7.Rs. 2.87 Lakh crores to be spent on Villages in total. 8.Rs. 9000 crores for ‪#SwachBharatMission‬. 9.Rs. 97000 Crores for Roads. 10.Total Outlay on Roads and railway Rs. 2.18 Lk Crores. 11.Rs. 2.21 Lakh Crores on ‪#Infra‬Projects. 12. ‪#NHAI‬to raise Rs. 15000 crores via ‪#NHAIBonds‬. 13.More benches for ‪#SEBI‬Appellate tribunal. 14.Registrationof Company in One Day for Start-ups. 15.Rs. 25000 crores for Banks rehabilitation. 16.100% FDI for food processing. 17.Non planned expenditure of Rs. 14.28 Lk Crores. 18.Planned expenditure increased by 15.3% . 19.Relief Section 87A Rs. 2000 to Rs. 5000 20.Relief Sec 80GG Rs. 24000 to Rs. 60000 21.Section 44AD limits Rs. 1 crores to Rs. 2 crores. Rs. 50 Lakh for professional 22.Accelerated depreciation limited to 40% 23.New manufacturing companies will pay tax @ 25%. 24.LTCG on unlisted securities limited to 2 years. 25.100% tax deduction for companies building houses upto 30 sq. mtrs. 26.Additional interest deduction for first house. 27.No service tax for building houses upto 60 sq mtrs. 28.10% dividend tax for recipient over Rs. 10 lakh per annum. 29.TCS on purchase of asset over Rs. 2 Lakh in case and luxury cars. 30.VDS Scheme @ 30% + surcharge, Ist June to 30th September 2016. 31.Dispute resolution for appeal pending before Commissioner(Appeals). 32.Penalty for concealment of Income from 100-300% to 50-200%. 33.Rationalisation of TDS provisions. 34.11 new benches for Income Tax Appellate tribunal. 35.No face to face scrutiny.