• Companies with sales less than Rs.50 crore is proposed to be 25%
• MAT credit can be carry forward for 15 years
• No transaction over Rs 3 lakh will be permitted in cash, says FM
• Basic customs duty on LNG cut to 2.5% from 5%, says FM
• Capital Gain Indexation will be changed to Index from 01-04-2001

Personal Income Tax

2.5 Lakhs to Rs.5 Lakhs – 5%

Other slabs tax rate remain the same

Rebate maximum amount reduced to Rs.2500/-

Surcharge @ 10% for income group of Rs.50L to Rs.1 Crores. Above Rs.1 Crores 15% surcharge will continue

• Capital gains of Land & Building – 2 years holding period
• Cash Expenditure – Both Capital & Revenue limited to Rs.10000/-
• Presumptive Taxation – 6% for non cash transactions -Applicable for current year also
• Funding of Political Parties – Maximum amount of cash donation restricted to Rs.2000/-. Electoral Bonds to  be implemented by amending RBI regulations – Political Parties need to file Income Tax Returns
• Affordable Housing Scheme Provisions relaxed
• Insurance Agents – No need of TDS if taxable income below taxable limit subject to filing declaration

• Incentives for using Bhim App – Bonus to users referrring Bhip App and Cash Back for business users

Negotiable Instrument Act to be amended

Economic Offences – Government will have power to confiscate assets of person fleeing the country – New law to be framed – A Vijay Mallya effect

Foreign Investment Promotion Board (FIPB) to be phased out in 2017-18

Prime Minister Mudra Yojana – 2.44 lakhs limit fixed for lending by banks

Aadhar Based Health card for Senior Citizens

Mahila Sakthi Kendra will be set up at village level. Budget allocation of Rs.500 crore

Service Charges for railway ticket booking through irctc portal to be waived

Railway books to be changes to accrual system by 2019

Bio toilet in all trains by 2019

Metro rail policy to be implemented

MNERG – Budget Allocation for Rs.48000 crores

One crore houses to be constructed by 2019

Govt to set up 100 India -International Skill centres

Govt Committed to take structural reforms in Medical Education – FM

Legislative reforms to simplify labour reforms – FM

Agriculture & Farmers

Agricultural Credit limit fixed at Rs.10 lakhs

Setting up core banking tp Primary Agricultutal Co-op  Banks with NABARD and state Government Assistance

Separate NBARD fund for Irrigation

9000 crores for Crop Insurance

Budget presentation Started….Watch this page for updates