Steps to give relief to the small tax payers and to the small business and professionals

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....teps to give relief to the small tax payers and to the small business and professionals <br>News and Press Release<br>Dated:- 9-5-2016<br><BR>The Revenue Department of the Ministry of Finance takes se....

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....veral steps for boosting-up growth and employment generation: (a) Lowering the Corporate tax rates to 25% for new manufacturing companies (b) Extending tax benefits for housing sector so as to pro....

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....mote construction industry (c) Rate of tax on royalty and fees for technical services reduced from 25% to 10% (d) Tax incentives for Start-up India Similarly, it has taken various steps to give r....

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....elief to the small tax payers and to the small business and professionals: The limit of deduction that can be claimed under section 80C of Income tax Act 1961 has been enhanced from &#8377; 1 lakh pe....

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....r annum to &#8377; 2 lakh per annum, subject to the additional &#8377; 50,000/- being contributed to NPS. Further, the scope of presumptive taxation regime for small businesses has been extended by in....

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....creasing the turnover up to &#8377; 2 crores. The presumptive taxation benefit is now available for professionals having turnover upto &#8377; 50,00,000/-.<BR> News - Press release - PIB....