Friday, February 29, 2008

Budget 2008

Being the last budget before poll, Mr. Chidambaram has come up with 'populist' budget.

The most salient feature for individuals being the change in IT slabs.

The new IT slabs are :

Income Slab

Tax (in %)

0-1.5 lakhs (for woman 0 – 1.8 lakhs)


1.5 – 3 lakhs


3 – 5 lakhs


5 lakhs & above


So if you are earning 5 lakh + income, you would have tax saving of around 45000.

Capital gain tax has been increased from 10 to 15 %. This would have effect on shares and land deals transactions done in short period.

For Corporates though, the budget has been ‘average’.

On a different note, read article that realty prices in Pune are on downslide.

All in all, Today was a happy day for middle-class people.

Other Budget Features

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