Period of holding for computing capital gains in case of immovable property reduced from 36 months to 24 months

Base year for capital gains computation shifted from 1981 to 2001

Expansion of reinvestment scheme eligible for long-term capital gains tax exemption

Profit linked deduction on affordable housing scheme linked to ‘carpet area’ as against ‘built-up area’

Time period of completion of the affordable housing projects extended from 3 years to 5 years for availing profit linked deduction

In case of real estate developers, no notional rental income for house property held as stock-in-trade, upto one year from the end of the FY in which the construction completion certificate is obtained

In case of JDA between individual / HUF and Developer, capital gains taxable in the year of issuance of construction completion certificate

Inter-head adjustment of loss under the head house property capped at Rs 2 lakhs per annum

Retrospective amendment to exclude value of land from taxable value of services subject to service tax

Exemption of foreign company’s income from sale of leftover stock of crude oil continues after expiry of agreement

Concessional tax rate of 10% introduced on income from transfer of carbon credits

Reduction in customs and excise duty rates of certain specified machineries/ parts/ material for power generation through renewable sources being wind, solar, gas and fuel cells

Benefit of reduced rate of customs duty on import of liquefied natural gas

No clarification brought for clearing ambiguity around amortisation of license fee prior to April 01, 2016

MAT credit to be carried forward up to 15 years

MAT paid to the extent of foreign tax credit claimed cannot be carried forward

Concessional withholding tax rate of 5% on interest on ECBs extended upto June 2020

Relaxation in domestic transfer pricing compliance norms

Limitation of interest deduction to 30% of EBITDA for interest paid to associated enterprise

To promote comprehensive manufacturing in India, 2% duty imposed on populated PCB for manufacture of mobile phones

Concessional withholding tax rate of 5% on interest payable to a FII or QPI extended to June 2020

Concessional withholding tax rate of 5% on interest on ECBs and Rupee Denominated Masala Bonds extended upto June 2020

Increase in rate of deduction in respect of provision for bad and doubtful debts from 7.5% to 8.5% of total income

Beneficial taxation of NPA interest income in year of receipt extended to co-operative banks

SEBI registered Category I and II FPIs exempt from indirect transfer provisions

Capital gains tax exemption on transfer of a rupee denominated bond from one non-resident to another

Specific customs duty and excise exemption granted to Miniaturized POS card reader for m-POS (not including mobile phones, or tablet computers), micro ATM as per standards version 1.5.1, Finger Print Reader / Scanner or Iris Scanner and parts