Highlights of Budget 2015 in detailed Presentations

1. • No revision in Tax Slabs.
• New Pension Scheme (NPS) limit
raised to Rs.1.5 Lakh from Rs.1 Lakh.
• Deduction under Sec.80D on Health
Insurance Premium raised to
Rs.25,000. For Senior citizens it is
Rs.30,000.
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2. • Transport Allowance limit raised
to Rs.1,600 PM from Rs.800 PM.
• Interest earned from Sukanya
Samriddhi Account is exempted.
So now it is EEE (Exempt-Exempt-
Exempt).
• Service Tax rate raised to 14%
from earlier 12%.
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3. • Wealth Tax replaced with 2%
surcharge on taxable income over
Rs.1 Cr.
• 100% Tax Deduction for
contributions to Swachh Bharat
and Clean Ganga under Sec.80G.
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4. • PAN Card mandatory for all buy
or sell exceeding in value of Rs.1
Lakh.
• You have option to choose
between EPF or NPS.
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5. • Unclaimed deposit in PPF and EPF
is used for Senior Citizen Welfare
Fund.
• Government will incentivize
Credit & Debit Card Transactions.
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6. • 2% Swachh Bharat Cess on all or
any service. So Service Tax will be
14%+2%=16%.
• Merger of two mutual funds will
not lead you any capital gain tax.
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7. • Surcharge on Dividend
Distribution Tax raised from 10%
to 12%.
• Advance Rs.20,000 or more in
cash for purchase of property is
prohibited.
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8. • Introduction of Gold Deposit
Scheme, Sovereign Gold Bonds
and Indian-made Gold Coins.
• Introduction of Tax Free Infra
Bonds.
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9. • Hiding Income will face penalty of
300% of Asset Value also 10 Yrs of
jail for evaders.
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10. • Pradhan Mantri Suraksha Bima
Yojana introduced. Sum Assured
is Rs.2 Lakh. Premium will be
Rs.12 per year.
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11. • Atal Pension Yojana introduced.
Govt will also pay 50% of
beneficiaries premium subject to
limit of Rs.1,000 each year for
five years. Account must be
opened before 31st Dec 2015.
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12. • Pradhan Mantri Jeevan Jyoti Bima
Yojana introduced. This covers
natural as well as accidental
death. Sum Assured will be Rs.2
Lakh. Premium will be Rs.330 per
year and for age group 18-50.
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