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Monday, March 3, 2008

Highlights of 2008 Budget...Part III


Banking transaction tax to be removed.
Short term capital gains tax to be hiked to 15%.
Commodities Transactions Tax to be introduced.
5-yr tax holiday for all hospitals.
Women exemption threshold extended from Rs 1,45,000 to 1,80,000.
No change in coporate income tax rate, surcharge stays.
Income tax exemption limit raised to Rs 2,25,000 for senior citizens.
Exemption limit increased from Rs 1,10,000 to Rs 1,50,000 for all assesses.
Tax to GDP ratio of 9.2%.
Watch this space for more on taxes...
Will the FM make the salaried class happy?



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