New Delhi Feb 29:
Union minister P.Chindambaram's budget proposals for 2008-09 is a mini-bonanza for the middle class,women, senior citizens and consumers and a major relief for debt -trapped farmers.
He increased the exemption limit for paying income-tax to Rs 1,50,000 from 1,10,000.
BASIC SLABS:
up to Rs 1,50,000 ....................... Nil
Rs 1,50,001 to Rs 3,00,000 .................... 10 %
Rs 3,00,001 to 5,00,000 ................... 20%
Above Rs 5,00,000 .................. 30%
FOR WOMEN UNDER 65
Exemption limit raised from Rs 1,45,000 to Rs 1,80,000
up to 1,80,000 ......................................... Nil
Rs 1,80,000 to Rs 3,00,000 ............... 10%
Rs 3,00,001 to Rs 5,00,000............ 20%
Above Rs 5,00,000 .............. 30%
FOR SENIOR CITIZENS (over 65 years)
Exemption limit raised from Rs1,95,000 to Rs 2,25,000
up to 2,25,000 .......................... Nil
Rs 2,25,001 to Rs 3,00,000..................... 10%
Rs 3,00,000 to Rs 5,00,000................... 20%
Above Rs 5,00,000 ....................... 30%
1. small cars like Nano will get cheaper
2. TV set-top boxes to get cheaper
3. Buying into commodities in future to be expensive
4. companies maintaining guest houses need not pay FBT
5. Packaged coconut water, pav bhaji, tea,coffee mixes to get cheaper
6. Breakfast cereals,sharbats, cornflakes, may get cheaper
7. Wireless datacards used on your computers and laptops are likely to get cheaper
