https://www.taxtmi.com/news?id=15776 The budget increases tax-relief measures and thresholds: higher rebate and a substantially raised rent deduction limit, expanded presumptive taxation for businesses and professionals, time-bound full-profit deductions for qualifying start-ups, and preferential patent income taxation. It provides tax-free partial withdrawal of pension corpus at retirement and caps employer contribution benefits. Affordable housing receives targeted tax incentives including full profit deduction for specified projects, additional interest deduction for first-time buyers, and service tax exemptions. Administrative reforms include a New Dispute Resolution Scheme with concessional settlements and immunity provisions, strengthened penalty rules, tribunal limit adjustments, abolition of low-revenue cesses, and expanded e-Assessment and other technology-led compliance initiatives. en-us Mon, 29 Feb 2016 13:08:57 +0530 Mon, 29 Feb 2016 13:08:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=15776 The budget increases tax-relief measures and thresholds: higher rebate and a substantially raised rent deduction limit, expanded presumptive taxation for businesses and professionals, time-bound full-profit deductions for qualifying start-ups, and preferential patent income taxation. It provides tax-free partial withdrawal of pension corpus at retirement and caps employer contribution benefits. Affordable housing receives targeted tax incentives including full profit deduction for specified projects, additional interest deduction for first-time buyers, and service tax exemptions. Administrative reforms include a New Dispute Resolution Scheme with concessional settlements and immunity provisions, strengthened penalty rules, tribunal limit adjustments, abolition of low-revenue cesses, and expanded e-Assessment and other technology-led compliance initiatives. News - Mon, 29 Feb 2016 13:08:57 +0530 https://www.taxtmi.com/news?id=15776