Union Budget 2017: 5 tax changes which could be introduced

1. Individual Income Tax

Increment in individual wage assess chunk cutoff points is relied upon to be the highlight of the financial backing with a specific end goal to restore the utilization cycle. SBI conjecture an expansion in individual salary assess exclusion constrain from Rs 2.5 lakh to Rs 3 lakh.

2. Extract Duty

Extract obligation exception on some sustenance things (frozen yogurt, cheddar, RTE, bundled juices, and so forth) might be lifted as a stage moving towards GST. At present, some nourishment things appreciate 0-6% extract obligation. Expelling the exclusion will push up the costs of these sustenance things.

3. Charge on cigarettes

Given colossal unlawful piece of the overall industry, assess increment ought to be humble at 8-10% climb in extract obligation for cigarettes. In the event that climb is higher than 10%, then is negative for all cigarette organizations, as it will be the 6th successive climb.

4. Corporate Tax Rates

With additional charge and cess, corporate expense rates in India are among the most elevated. Prompt lessening in rates is a basic to counter the impact of demonetisation. Least interchange charge rates could likewise be think.

5. Finding for framework bonds

Impose sparing framework bonds, which permitted financial specialists to get extra duty derivations, could be reintroduced.

Source:- Timesofindia

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