Indian Budget 2016: For Professionals, Businessmen & students of CA / CMA / CS

In the backdrop of two successive bad monsoons, a global slowdown and upcoming elections in several states, the Honourable Finance Minister of India, Mr. Arun Jaitley presented the Union Budget for the financial year 2016 – 2017 before the Lok Sabha on February 29, 2016. The Finance Minister dismissed all accusations of the NDA government being a ‘suit boot sarkar’ by introducing new levies on luxuries and increasing taxes on the rich. The NDA government’s commitment to the farmer was reiterated with promises of massive investments in irrigation and introduction of a new ‘Krishi Kalyan Cess’ on services to finance it. Start-ups were not far from the Finance Minister’s thoughts as is clear from the tax exemptions doled out to them. To encourage the Prime Minister’s “Make In India” programme, manufacturing companies and small companies were also given tax breaks. The Finance Minister also had redemption in store for tax evaders through a declaration scheme. This book presents you with a quick snapshot on Budget 2016.