UNION BUDGET HIGHLIGHTS 1) Interest deduction on housing loan upto 45 Lacs enhanced from 2,00,000/- to 3,50,000/-. 2) Surcharge on Income : a) Income – 2 Cr. Or more – 3%. b) Income - 5 Cr. Or More - 5%. 3) Corporate tax slashed from 30% to 25% for companies with turnover upto Rs.400 Crores. 4) Aadhar Card can be used for filing of income tax return. 5) The GST rate is advised to get down from 12% to 5% on Electronic Vehicle. 6) Promoting Digital Transaction: a) 2% TDS on cash withdrawal > Rs.1 Crore in a year from your bank A/c. b) No Charges on Digital Transactions. 7) Self Help Groups : a) Rs.1,00,000/- loan is provided to to Self help group. b) Members of SHG Members can take Overdraft(OD) facility upto Rs.5,000/-. 8) MSME Sector: a) 2% interest subvention for GST Registered MSME on fresh or incremental loans. b) Television channel to promote start ups in india.
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