Highlights of Union Budget 2015...............
The Union Budget of India , referred to as the Annual Financial Statement in Article 112 of the Constitution of India, is the annual budget of the Republic of India, presented each year on the last working day of February by the Finance Minister of India in Parliament. (1) Reduction in rate of Corp. tax from 30% to 25% for next 4 years. 2) Increment in Service tax from 12.36% to 14 % 3) Increment in Excise duty from 12.36% to 12.50%. 4) Abolition of wealth tax. Instead increment in 2% additional surcharge on super rich people 5) Contribution to P.F by employee share optional to certain class of labor 6) Increment in tax deduction in health insurance from Rs 15000 to Rs 20000. 7) Yoga related services are under charitable services. 8) Indiviual taxpayer can get benefits up to Rs. 4,44,200. 9) Transport allowance exemption increased 800 pm to 1600/- pm 10) Increase in limit of deduction of health insurance premium of Rs. 15,000 to Rs. 25,000. For s...