Budget 2015 highlights

Budget 2015 did not have much difference in terms of tax slabs and IT exemptions but you can still take advantages of it by investing prudently,

1.  Health insurance of 15,000 per year was computed as a deduction from taxable income while as per 2015 25,000 Rupees/year as health insurance premium is tax-deductible. 1,030 and Rs 3,460 from taxable money can be saved as per your income slab.

2.   If your parents are old enough to be covered by a health insurance policy here is good news, an amount of 30,000 Rs paid towards medical expenses of your parents can be tax-deductible.

3.      50,000 Rs towards national pension scheme will be tax deductible

4.      Transport allowance of 1600 Rs will now be tax deductible.

5.      Wealth tax is abolished while corporate tax has been reduced from 30% to 25%.

6.      Flip side of the budget 2015 is increase in service tax from 12% to 14%. Any service you avail ranging from your air/railway ticket to dinning at restaurants, DTH charges will go up.

 

Prices of the below commodities will going to rise

1) Home: Need to pay more while going to purchase a home.

 

2) Eating out: Eating out is going to be dearer.

 

3) Cold drinks and other aerated beverages: we have to fork out more money.

 

4) Mineral water: Better to go for home-made filtered water.

 

5) Internet services: Will go up.

 

6) Cable/DTH services: will go up.



 

7) Laptop: buying a laptop will cost more now.

 

8) Cigarette: smoking is injurious while spending money on smoking smokers may think twice.

 

9) Tobacco products: good decision to increase the price on tobacco, it is indeed a welcome move to discourage buying tobacco products.

 

10) Mobile phone: Consumers have to fork out more on mobile phones.

 

11) Commercial vehicles

 

12) Movies: Viewers will be more selective from now onwards.

 

13) Courier services

 

14) Healthcare services

 

15) Laundry services

 

16) Beauty parlour

 

17) Air travel

 

18) ​Imported hazel nuts

 

19) ​Precious stones

 

20) ​Branded apparels

 

21) ​Gym services

 

22) Gold

 

By Dipti Prasad Padhi

By : | Category : Business and Economy| Sub Category : Indian Business News|Date : March 01,2015

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