The following are the Union Budget 2014-15 highlights
For individuals
* Tax slab on personal income remains unchanged
* Income tax exemption limit raised by Rs 50,000 to Rs 2.5 lakh and for senior citizens to Rs 3 lakh
* Exemption limit for investment in financial instruments under 80C raised to Rs 1.5 lakh from Rs 1 lakh.
* Investment limit in PPF raised to Rs 1.5 lakh from Rs 1 lakh
* Deduction limit on interest on loan for self-occupied house raised to Rs 2 lakh from Rs 1.5 lakh.
* Kisan Vikas Patra to be reintroduced, National Savings Certificate with insurance cover to be launched
* Long term capial gain tax for mutual funds doubled to 20 pc; lock-in period increased to 3 years
* Mandatory wage ceiling of subscription to EPS (Employee Pension Scheme) raised from Rs 6,500 to Rs 15,000
* Minimum pension increased to Rs 1,000 per month
* LCD, LED TV become cheaper
* Cigarettes, pan masala, tobacco, aerated drinks become costlier
For individuals
* Tax slab on personal income remains unchanged
* Income tax exemption limit raised by Rs 50,000 to Rs 2.5 lakh and for senior citizens to Rs 3 lakh
* Exemption limit for investment in financial instruments under 80C raised to Rs 1.5 lakh from Rs 1 lakh.
* Investment limit in PPF raised to Rs 1.5 lakh from Rs 1 lakh
* Deduction limit on interest on loan for self-occupied house raised to Rs 2 lakh from Rs 1.5 lakh.
* Kisan Vikas Patra to be reintroduced, National Savings Certificate with insurance cover to be launched
* Long term capial gain tax for mutual funds doubled to 20 pc; lock-in period increased to 3 years
* Mandatory wage ceiling of subscription to EPS (Employee Pension Scheme) raised from Rs 6,500 to Rs 15,000
* Minimum pension increased to Rs 1,000 per month
* LCD, LED TV become cheaper
* Cigarettes, pan masala, tobacco, aerated drinks become costlier
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