Thursday, 31 July 2014

Budget 2014-15 Highlights

Budget 2014-15 Highlights

Personal tax exemption limit raised to Rs. 2.5 lakh from current Rs. 2 lakh for taxpayers below 60 years

Senior citizen tax exemption limit hiked from Rs 2.5 lakh to Rs 3 lakh

No change in surcharge for individuals

Education Cess to stay at current 3%

Investment limit under Section 80C hiked to Rs 1.5 lakh from current Rs 1 lakh 

Exemption on housing loans interest on self-occupied property increased from Rs 1.5 lakh to 2 lakh