Budget 2014


Budget 2014 Market Live : Despite 11-72% tax hike in cigarettes, ITC stock up

Finance Minister Arun Jaitley today proposed a hike in excise duty on cigarettes another tobacco products between 11 and 72 percent. However, ITC, the largest manufacturer of cigarettes in India was trading about 1.3 percent higher as the duty hike has already been factored in by the markets.
An article in The Hindu earlier pointed out that the tax structure in India is so complex that most companies can escape the brunt of tax hikes.
Excise duty on Gutka was also hiked to 70 percent from current 60 percent.
Meanwhile, Indian equity markets are now trading higher with the Sensex up 60 points higher at 25512 and the NSE Nify up 21 points at 7606


Budget 2014 : SIN TAXES ARE UP

Taxes on cigarettes (11-72 percent), cigars, unmanufactured tobacco and gutka to go up. Also on water with sugar content – this means all soft drinks too.

Service taxes going up on online advertising. Radio taxies also to be levied service tax.


Budget 2014 : Market Live

No changes in tax rate; Sensex recovers 1% from day’s low
Meanwhile, the markets have recovered from the day’s low. While Nifty is down just 30 points at 7530, BSE Sense is down 107 points at 25337.


Budget 2014 : FM proposes to give some relief to individual tax payers

No changes in tax rate but FM proposes increases personal income tax exemption to Rs 2.5 lakh

Tax exemption increased to Rs 3 lakh for senior citizens

80C exemption limit increased to R 1.5 lakh

EMI exemption for self-occupied property raised to Rs 2 lakh

No changes in corporate tax

Finance Minister has also provided an investment allowance at 15 percent for three years to manufacturing companies which invest more than Rs 25 crore in plant and machinery.

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