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.


Budget 2014 : Jaitley proposes to revitalise small savings scheme

Jaitley proposes to revitalise small savings schemes. Rs 1.5 lakh will be allowed as PPF account investment annually.

Secondly, special national savings certificates and savings instruments have been announced for parents to invest in name of girl child.

Thirdly, one-rank-one-pension scheme for retired soldiers is also being implemented with allocation of Rs 1,000 crore this year.

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