BUDGET 2016 AGROCHEMICAL SECTOR 1 Excise Duty PreBudget
BUDGET 2016
AGRO-CHEMICAL SECTOR 1) Excise Duty Pre-Budget Post-Budget 12. 5% 2) Krishi Kalyan Nil Cess 0. 5%
AUTOMOBILE 1) Infrastructure Cess on Cars Pre-Budget Post-Budget Nil 1 -4% 2) Tax on cars Nil above 10 lakhs 1%
AVIATION SECTOR 1) Excise duty on Aviation Turbine Fuel 2) Benefits related to maintenance Pre-Budget 8% Post-Budget 14% - Excise/Customs exempted
BANKING SECTOR 1) Net market borrowing Pre-Budget 4. 40 lakh crore 2) FDI in Asset 74% Reconstruction Cos. 3) Additional deduction Rs. 0. 20 mn Under Income from House Property Post-Budget 4. 25 lakh crore 100% 0. 20 mn+0. 05 mn
CAPITAL GOODS Pre-Budget 1) Custom Duty 7. 5% on Specified capital Goods Post-Budget 10% 2) Custom Duty 0% on Defence Imports 7. 5%
CEMENT SECTOR Coal Cess Pre-Budget Rs. 200 per tonne Post-Budget Rs. 400 per tonne
CONSTRUCTION & DEVELOPMENT 1) Higher allocation for Roads. 2) NABARD Pre-Budget Rs. 43, 000 cr. Post-Budget Rs. 97, 000 cr. Rs. 25000 cr to the corpus of Rural Infrastructure Development A dedicated long term irrigation fund with an initial corpus of Rs. 20, 000 cr.
TOBACCO Excise Duty on cigarettes Pre-Budget Increased by 25% Post-Budget Increased by 10%
INFO TECH • Phase out of Section 10 AA – No exemption for IT Companies operating in SEZ from 1 st April 2020 • Royalty from patent to be taxed at 10% • Tax benefit to start ups – Deduction of 100% of Profit & Gains by an eligible start up
MEDIA 1) Change in Service Tax Pre-Budget 14. 5% Post Budget 15% 2) Changes in 12. 5% Duties for Set. Top Box 4% (Excluding CENVAT) 12% (Including CENVAT) 1) Components 12. 5% of Set-top Box Nil
METALS & MINING 1) Custom Duty on Primary Aluminum 2) Custom Duty on Other Aluminum products Pre-Budget 5. 0% Post-Budget 7. 5% 10%
OIL & GAS Pre-Budget 1) Oil Industries Rs. 4500 per Development metric tonne Cess Post-Budget Increased by 20%
PAINTS Pre-Budget Housing Projects No Deduction Post-Budget 100% deduction on profits
PHARMACEUTICALS 1) R&D weightage Average deduction 2) Tax on Royalty Income Pre-Budget 200% Post-Budget 150% Consolidated Tax Rate 10%
POWER UTILITIES Cess on Coal Pre-Budget 200 bn Post-Budget 400 bn
REAL ESTATE SECTOR Low Cost Housing Pre-Budget Nil Post-Budget 100% deduction on profits allowed for projects measuring 30 sqm in metro cities and 60 sqm in other cities
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