Budget 2016-2017, Tax benefits changes in Housing loans and Constructions

 

Customs duty tariff rate changes as per Indian Budget 2017-18

 


Central Excise Duty changes as per Indian Budget 2017-18

 


Service Tax rate tariff Changes under Indian Budget 2017-18


Budget 2016-17 changes in customs import duty tariff,excise duty and service tax

 

Budget 2016-2017, Tax benefits changes in Housing loans and ConstructionsIndian Union Budget 2016-2017, changes in import customs tax tariff, chapter wise

Indian Budget 2016-17, Excise duty tariff changes, chapter wise

Changes in Service Tax as per Budget 2016-17

 

 

Income Tax benefits for housing loans and home constructions

 

Pradhan Mantri Awas Yojna embodies the assurance of the Government to address the housing needs of all and more specifically the

poor, in a time bound manner. Construction of houses creates considerable employment opportunities as well. In order to fuel activity in the housing

sector, I propose to give 100% deduction for profits to an undertaking from a housing project for flats up to 30 sq. meters in four metro cities and 60 sq.

meters in other cities, approved during June 2016 to March 2019, and is completed within three years of the approval. Minimum Alternate Tax will,

however, apply to these undertakings.

 

For the ‘first – home buyers’, I propose to give deduction for additional interest of `50,000 per annum for loans up to `35 lakh sanctioned

during the next financial year, provided the value of the house does not exceed `50 lakh.

 

Another proposal to stimulate housing activity is to facilitate investments in Real Estate Investment Trusts. I propose that any distribution

made out of income of SPV to the REITs and INVITs having specified shareholding will not be subjected to Dividend Distribution Tax.


 It is proposed to exempt service tax on construction of affordable houses up to 60 square metres under any scheme of the Central or State

Government including PPP Schemes.

 

Budget proposes to extend excise duty exemption, presently available to Concrete Mix manufactured at site for use in construction work at such site

to Ready Mix Concrete.

 

 

 

1 per cent service charge on purchase of luxury cars over Rs. 10 lakh, Indian Budget 2016-17

 

September 30 to be the deadline followed for undisclosed income, Indian Budget 2016-17

 

1% CESS on petrol cars and 2.5% CESS on diesel cars, Union Budget 2016-17

 

4% High Capacity Tax on SUV'S , Indian budget 2016-17.

 

No change in Income tax slabs, Indian Budget 2016-17

 

Additional levy of 1% on luxury cars, Indian Budget 2016-17

 

200% penalty on misreporting income, Union Budget 2016-17

 

EXCISE DUTY of 1% UP on JEWELRIES, Indian budget 2016-17

 

Tobacco tax goes up to 10-15%, Indian Budget 2016-17

 

1% increase on cess on CNG and PETROL cars, Indian budget 2016-17

 

Tobacco products except beedi goes on hike, Indian Budget 2016-17

 

Budget 2016-17, 9 categories of Tax reforms introduced

 

Latest Indian budget changes for import of clocks, watches and parts

 

Import tax tariff changes for vehicles and parts other than railway or tramway as per Indian Union Budget 2016-17

 

Duty tariff changes for import of antiques, work of art collectors peices as per latest Indian Budget 2016-17

 

Latest Indian budget changes for import of miscellaneous manufactured articles as per HS code 96

 

Import duty changes for toys, games and sports equipments under HS code 95 as per Indian Budget 2016-17

 

Import tariff changes for furniture,lamps and lighting fittings,nameplates & the like under HS code 94 as per new Indian budget

 

 Government tax tariff changes for import of arms and ammunition under Indian Budget 2016-17

 

Import tax tariff changes for musical instruments and parts as per Indian Union Budget 2016-17

 

Duty tariff changes for import of medical or surgical instruments and apparatus, optical, photographic parts and accessories as

 

 

Latest Indian budget changes for import of boats, ships, floating structures as per HS code 89

 

Import tariff changes for aircraft, spacecraft, aircraft parts, spacecraft parts under HS code88 as per new Indian budget

 

Govt tariff changes for import of railway or tramway locomotive, traffic signaling equipments, track fixtures and fittings as per Budget 2016-17

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E BRC, Electronic Bank Realization Certificate

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Bank Pre shipment Finance to exporters

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Offices to obtain RCMC

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GR waiver form for goods under free trade samples

 

 

 


Comments


vipro ghoshal : my name is vipro ghoshal.i want to direct sell buffalo from india to bangladesh. can plz tell me the whole procedure and the export duty pay to indian gov and import duty to bangladesh gov

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