D👑Queen: Any provisions to help businesses create jobs?
⚖Advocate VV: One very important 📢 that we should not overlook is that Government will pay 8.33% of EPF for all new employees for the first 3⃣ years👏🎉. This is to boost the creation of new jobs in 🇮🇳 and will be applicable to employees with a monthly salary upto ₹ 15k . The FM also broadened the scope of employment generation incentives under 80JJAA of the Income Tax Act.
D👑Queen: 80JJAA? Now you're just showing off 😉. You're overall assessment for business?
⚖Advocate VV: Sure. ↔ The Budget 2016, in my view, was nothing special for small businesses and companies. The industry was expecting more from the FM to boost the sluggish growth and what it got was mere tweaks and small changes😞 The 25% corporate tax rate for new manufacturing companies (without exemptions) is a welcome sign and the FM promised steadiness and stability - a welcome relief to any business person❗