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Budget Analysis 2007 |
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What you Gain
1. I-T exemption raised by Rs. 10,000/= to Rs. 1.1 Lakh , to Rs. 1.45
Lakh for women, and
Rs.1.95 Lakh for senior citizens.
2. Banking cash transaction tax to kick in at Rs. 50, 000/= instead of
Rs. 25,000/=
3. Parents/relatives to get deduction on educational loans for
children/wards.
4. Ceiling on deduction allowed for medical insurance raised to Rs.
15,000/= ; for senior citizens ,it goes up from Rs. 15,000/= to Rs.
20,000/=.
5. Peak customs duty on non-agricultural products brought down from
12.5% to 10%.
6. Synthetic textiles, low-priced cement, edible oils, diamonds,
imported pet food, medical equipment, watches, plywood, footwear,
umbrellas, biscuits ,food-mixes should cost less.
7. I-T surcharge removed on SMEs with taxable income less than Rs. 1
Crore.
8. Service tax exemption limit on small service providers doubled to Rs.
8 Lakh.
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