The Budget 2016 saw several small changes here and there, while the truly substantial ones were hidden deep in the fine print. Nothing truly head-turning, but a few were definitely eyebrow-raising; the EPF taxation issue and increased Service Tax come to mind. We had written a post as soon as the Budget was out on Feb 29, giving you small tidbits about what the key take-aways were. Among the more talked-about news regarding the Budget, revolved around the issue of Indirect Taxes. This Budget focuses on meeting the fiscal deficit targets as stated by the FinMin (3.5%) through increased taxes, and a reduced growth in Expenditure. One such way, is through Indirect Taxes. What are They? To put it simply: Indirect Taxes are taxes that the end-consumer pays for indirectly, as opposed to a Direct Tax such as Income or Capital Gains Tax, which you would pay straight to the government coffers.… (Read On…)
[via Capital Mind]
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