Budget 2016-A crisp analysis of Income Tax provisions by Blue Consulting

Rate of corporate tax has been reduced to 29% for small businesses having turnover of less than Rs. 5 Cr. Clarification on concessional rate of 10% on the Long term capital gain on Unlisted Securities. Increase in threshold limit for presumptive taxation from Rs. 1 crore to Rs. 2 crore. Professionals included in Presumptive Taxation Scheme.