Key Features of Budget 2016-2017:
Therefore we can see from the above example that due increase in ceiling of rebate
u/s 87A savings of `3000 is made.
Example:- If an employee is not granted house rent allowance from his employer and is living in a rented house then he is eligible to claim deduction under sec 80GG.
-Accelerated depreciation wherever provided in IT Act will be limited to maximum 40% from 1.4.2017
-Benefit of deductions for Research would be limited to 150% from 1.4.2017 and 100% from 1.4.2020
-Benefit of section 10AA to new SEZ units will be available to those units which commence activity before 31.3.2020.
-The weighted deduction under section 35CCD for skill development will continue up to 1.4.2020
