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Union Budget 2016 - Personal Finance
Posted on: 29/Feb/2016 3:55:06 PM
- Rs 1,000 crore allocated for new EPF (Employees Provident Fund) scheme
- Govt. will pay EPF contribution of 8.33 percent for all new employees for first three years
- Deduction for rent paid will be raised from Rs 20,000 to Rs 60,000 to benefit those living in rented houses.
- Additional exemption of Rs. 50,000 for housing loans up to Rs. 35 lakh, provided cost of house is not above Rs. 50 lakh.
- Service tax exempted for housing construction of houses less than 60 sq. m
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