https://www.taxtmi.com/news?id=15811 The Budget widens simplified tax relief for small taxpayers by extending presumptive taxation to more professionals, raising the turnover threshold for presumptive business taxation, increasing rebates and deductions for rent and first time home buyers, while proposing taxation and caps affecting provident fund and employer contributions. It introduces a Dispute Resolution Scheme with reduced penalties and immunity subject to payment and withdrawal of disputes, a graded penalty framework, stay on demand on partial payment, appellate capacity increases, amendments to credit rules, and international measures including a Tax Equalization Levy and Country by Country reporting. en-us Mon, 29 Feb 2016 18:47:57 +0530 Mon, 29 Feb 2016 18:47:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=15811 The Budget widens simplified tax relief for small taxpayers by extending presumptive taxation to more professionals, raising the turnover threshold for presumptive business taxation, increasing rebates and deductions for rent and first time home buyers, while proposing taxation and caps affecting provident fund and employer contributions. It introduces a Dispute Resolution Scheme with reduced penalties and immunity subject to payment and withdrawal of disputes, a graded penalty framework, stay on demand on partial payment, appellate capacity increases, amendments to credit rules, and international measures including a Tax Equalization Levy and Country by Country reporting. News - Mon, 29 Feb 2016 18:47:57 +0530 https://www.taxtmi.com/news?id=15811