New Delhi: The Finance Minister, making a populist move, raised the income tax exemption up to Rs 1.5 lakh for men and upto Rs 1.8 lakh for women. Senior citizens would now get tax upto Rs 2.25 lakh. However, there would be no change in the corporate tax.There would be no change in the STT rates, but short-term capital gain would now attract 15 per cent up from 10 per cent.
The Finance Minister said that there would be no change in peak customs duty; however, he reduced the excise duty to 14 per cent from 16 per cent.Customs duty on life saving drugs would now be 5 per cent and convergence products duty would be reduced to 5 per cent.The excise on small cars has also been reduced to 12 per cent from 16 per cent and that on two and three wheeler also by the same amount. Anti-aids drug would be exempted from excise duty.
The Finance Minister said that there would be no change in peak customs duty; however, he reduced the excise duty to 14 per cent from 16 per cent.Customs duty on life saving drugs would now be 5 per cent and convergence products duty would be reduced to 5 per cent.The excise on small cars has also been reduced to 12 per cent from 16 per cent and that on two and three wheeler also by the same amount. Anti-aids drug would be exempted from excise duty.
No comments:
Post a Comment