This Part-IV of the “Major Amendments in Income Tax, 1961 through the Finance Bill, 2016” covers the following proposed amendments:
1. Incentives for promoting affordable housing
2. Deduction of interest on loan for residential house property
3. Expiration of certain deduction u/s 80-IA, 80-IAB and 80-IB
4. Deduction for employment of new employees
5. Taxation of Dividend Income
6. Treatment of amount received on closure or opting out of Pension Scheme.

This is Part-III of the “Major Amendments in Income Tax, 1961 through the Finance Bill, 2016” series. This Part-III covers the proposed amendments for provisions of Tax Deduction a Source (TDS), Tax Collection at Source (TCS) and Advance Tax Payments.

This is Part-II of the “Major Amendments in Income Tax, 1961 through the Finance Bill, 2016” series.

Finance Minister Arun Jaitley, presented the Budget for the year 2016-17 on 29th February, 2016. We have come up with a detailed analysis of the changes proposed by the Finance Minister in a series of articles. This Part-I of the “Major Amendments in Income Tax, 1961 through the Finance Bill, 2016” series will highlight the existing provisions, proposed provisions and the date from which the proposed provisions will be effective on the below mentioned topics.