Sunday, March 16, 2025 | 12:26 AM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

MSMEs to gain from presumptive tax changes: Kalraj Mishra

About 3.3 million assessees in the MSME category will benefit from these changes, said the Mishra.

MUDRA Bank to revitalise MSME sector, says Kalraj Mishra

Press Trust of India New Delhi
About 3.3 million assessees in the medium, small and micro enterprises (MSMEs) category will benefit from changes in the presumptive taxation scheme proposed in Budget 2016-17, Union Minister Kalraj Mishra said today.

"About 3.3 million people will benefit from the changes announced in the presumptive taxation scheme," Mishra told PTI.
Read our full coverage on Union Budget 2016


At present, the scheme under the Income Tax Act is available for small and medium enterprises — non corporate businesses with turnover or gross receipts not exceeding Rs 1 crore.

Unveiling the Budget in Parliament on Monday, Finance Minister Arun Jaitley proposed to increase the turnover limit under this scheme to Rs 2 crore with a view to giving relief to assessees in the MSME category.

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Mar 01 2016 | 2:57 PM IST

Explore News