Highlights of the Budget that effect You and Me

Well i am listing down some of the highlights of the budget that effect me or might effect me or atleast i think it effects the common man.....


- Personal income tax exemption hiked to Rs 1.5 lakh

- Senior citizens threshold tax limit increased from Rs 1,95,000 to Rs 2,25,000

- Tax exemption for women increased to Rs 1.8 lakh

- No excise duty on refrigerating equipments

- Small cars to become cheaper

- Reduced excise duty on two, three wheelers

- Excise duty on hybrid cars cut from 24 pct to 14 pct

- Sixth Pay Commission report by March 2008

- 22 Sainik schools get Rs 44 crore

- PAN sole identification in securities market

- Duty reduced on life saving drugs

- Short term capital gains to be taxed at 15%

- Money changers and people running gains of chance and tour operators to be brought under service tax net

- Custom duty on steel scrapped

- Set-top boxes to become cheaper

- 3 IITs to be set up in Bihar, AP, Rajasthan

- 16 Central universities to be set up

- Inflation will be kept under check

Related Articles

Tax Saving in figures

Compare New and Old Income Tax Slabs

Cash or Finance for buying a Car