Thursday, February 28, 2008

Union Budget 2008-09 Live Highlights

Income Tax exemption to Rs 1.5 lakh
Income Tax exemption for women to 1.8 lakh
Income Tax exemption for senior citizens to 2.25 lakh
Revenue deficit at 1.4 pewr cent of GDP
Duty on project import cut to 5 per cent from 7.5 per cent
Excise duty on two and three wheelers down to 12 per cent
Anti-AIDS drugs exempted from excise duty
Reduce general CEVAT to 14 per cent on all goods from 16 per cent
No change in corporate tax
Ad Valorem duty on diesel and petrol removed
Higher tax rates on cigarettes
Five year tax holiday from Income Tax for hospitals across India
Five year tax break for UNESCO heritage two, three and four star hotels
Four new sectors brought under tax net
Excise duty on Pharma products down to 8 per cent from 16 per cent
Haryana & Chandigarh to develop smart card facility for food subsidy distribution

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