Saturday, February 28, 2015

Union Budget 2015 - What's there for me ?

This Budget simply defends the statement "Rich getting richer, Poor getting poorer" J.

Corporate tax is reduced to 25% Whereas service tax is increased to 14%. Individual tax slab is not increased. Middle class people, like me will suffer huge burden on their shoulders..!!

However, the finance minister Arun Jaitley has not forgotten to throw out a few pieces to the salaried middle class tooL . Below is the summary of tax benefits we get. 
  • Deduction u/s 80C - Rs.150,000;
  • Deduction u/s 80CCD - Rs.50,000;
  • Deduction on account of interest on house property loan (Self-occupied property) - Rs.200,000;
  • Deduction u/s 80D on health insurance premium - Rs.25,000;
  • Exemption of transport allowance - Rs 19,200;
          Total = Rs.4,44,200
Yes, I agree. I too cry like the one in the ignorant crowd - where everyone is looking what is there for them in the budget, but don't want the government to give the slightest benefit to Industrialists who are going to create jobs for Indians thru' which a lot of families also benefit. 

But what to do, we have such a positive belif on our politicians and tt’s human nature to think only about the immediate benefit, right J

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