Individuals, Professionals & Consumers:
-Personal tax liability to go down across the board...
-Tax exempt saving limit to go up from current 1lakh to 1.2 lakh (20k only for Infrastructure bonds)
-Professionals need hot have to get their accounts audited up to earning limit of Rs. 15 lakh
-Service tax on Mediclaim premium...Health insurance costs to raise
-Fridges, cars, Gold....all to become dearer
- Simplified Saral form for tax returns
- Cigar prices are set to go up
PS:
- Increasing limit from 3-5lakh is a gr8 relief....if basic exemption limit was also enhanced more salaried employees would have got benefited....DISAPPOINTED MAJOR CHUNK OF SALARIED PEOPLE .
- Infrastructure bonds are not a gr8 product with interest rate as low as 5.5-6%(Lockin 5-10yrs) ANY BODY STILL INTERESTED??? instead, investors must have allowed to invest their hard earned in a much more convenient way
- It does make some sense to enhance ceiling limit for professionals to get their books audited.....FULL MARKS
- In a country like India clamping service tax on mediclaim how far is it reasonable?? Over and above nearly 89% of Indians don't have mediclaim policies ....instead he should have brought down prices drastically so that its ambit got widened....MY ADVISE DO YOGA ' nd ' JOGGING DAILY :)
- Hiking excise duty on Car's at a time when companies are facing rising in raw material costs... NO PLAN TO BUY CAR THIS YEAR SO NO WORRIES
-For individuals hurting from a sharp spike in prices the concessions should compensate the anticipated increase in the cost of living after steep raise in the prices of petroleum products, excise....WHICH WAS ABSENT IN THIS BUDGET
- Simplified Saral forms will definitely improve compliance levels........GETTING RELIEVED FROM MIXUP'S :)
- Already ITC (Cigar manufacturer) Share price has fallen 6%..........ITS TIME TO QUIT SMOKING (FOR SMOKERS)
PS:
FROM INVESTORS AND CONSUMERS POINT OF VIEW IT WAS NOT A FINE BALANCING ACT BETWEEN GROWTH AND EXPECTATIONS
