Finance Act 2016: Revised Tax Rates, New Slabs, Anti-Evasion Measures, Startups Incentives, Indirect Tax Changes.

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....The Finance Act 2016 introduced revised tax rates and new tax slabs, aimed at enhancing compliance and efficiency in tax collection. It implemented anti-evasion measures to curb tax avoidance and provided incentives for startups to foster innovation and entrepreneurship. Additionally, the Act included changes to indirect taxes, adjusting rates and regulations to streamline the taxation process.....