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of <h1>Finance Bill 2016: New Taxes on Dividends, Increased Securities Tax, and 6% Equalisation Levy on Digital Services</h1> The Finance Bill, 2016 proposes amendments for additional resource mobilization through changes in direct taxes. It suggests taxing dividend income exceeding 10 lakh at 10% for individuals, HUFs, or firms in India, effective from April 1, 2017. The securities transaction tax on unexercised options is to increase from 0.017% to 0.05% from June 1, 2016. A new Equalisation Levy of 6% is introduced for specified digital services received by non-residents without a permanent establishment in India, with exemptions for amounts under 1 lakh. This levy aims to address tax challenges in the digital economy, with provisions for administration, compliance, and avoiding double taxation.
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