Budget 2014: -No change in tax rates for corporate and other individual tax payers. -Maximum exemption limit raised to Rs. 2.5 lakhs for an individual. -Senior Citizen are not liable to pay tax on income upto Rs. 3,00,000. -Limit on Annual ceiling in PPF enhanced to 1.5 lakhs. -Interest on Housing Loan for Self Occupied House Property exemption limit raised from 1.5 Lacs to 2 Lacs. -Deduction for Interest on Housing Loan increased to Rs. 2,00,000. -Investment limit under Sec. 80C increased to Rs. 1.5 Lacs. -15% allowance to manufacturing companies investing Rs 20 crores in plant and machinery. -Concessional rate of 5% on interest extended to all types of bonds. Read Full Story Here: caspot/2014/07/highlights-of-union-budget-2014-of-india.html #Budget2014 #arunjaitley
Posted on: Thu, 10 Jul 2014 09:19:35 +0000