To make MSMEs (micro, small and medium enterprises) more viable, income tax for smaller firms to be reduced. Tax rate for companies with an annual turnover up to Rs50 crore to be reduced to 25%.
Rate of growth in advance tax in personal income tax in last three quarters of this financial year is as high as 34.8%.
Basic customs duty on LNG to be reduced from 5% to 2.5%.
Arun Jaitley limits cash transactions for individuals at Rs3 lakh.
Political parties will be entitled to receive donation by cheque or in digital mode, from their donors.
