Friday, February 29, 2008

Personal Taxation For Financial Year 2008/09

Exemption slab raised to Rs 1.5Lakhs
Exemption limit for women at Rs 1.8 Lakhs
10% income tax for income exceeding Rs 1.5Lakhs but less than / equal 3 Lakhs
20% income tax for income exceeding Rs 3Lakhs but less than/ equal to 5 Lakhs
30% income tax for income exceeding Rs 5Lakhs

· Levy of Security transaction Tax (STT) on only options premium
· To Introduce commdities transaction tax, in line with the STT
· STT rates unchanged
· Banking cash transaction withdrawn

Only Bad Thing For Stock Traders
· Short term capital gain hiked to 15% from 10%

at 1:55 PM
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