Budget Tax exemption for Senior Citizens increased from rs2.5Lacs - TopicsExpress

Budget Tax exemption for Senior Citizens increased from rs2.5Lacs to Rs3Lacs. Rates of Tax continue without change 80C...Investment increased to Rs1.5Lac from 1Lac(PPF limit increased to 1.5Lac) Tax exemption for Individuals (below 60) is also increased to Rs2.5Lacs(from 2Lacs) No change in Sur-charge. Education Cess continues at 3% on Tax For implementing OROP for Defence Pensioners, Rs1000Cr is allocated. 6 DRTs will be established. One Demat for all Financial Investments. Sops for Banks for funding Infra-Projects 3% additional Interest Subsidy for Farmers for PROMPT repayment of Farm Loans. For additional Capital, Banks to look at the Markets...but Govt holding will not come down below 51% For funding Infra-Projects, Govt will advise RBI to exempt/relax CRR/SLR requirements. Tax exemption on Housing Loans raised to Rs2Lacs from 1.5Lac

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