Discuss live budget 2014 updates !

PPF savings limit enhanced from Rs 1.1 lakh to Rs 1.5 lakh

- 60 more Ayakar Sewa Kendras to be set up in the country

Tax announcements by FM

1. No change in direct tax rates 

2. To increase personal I-T limit to Rs 2.5 lk

3. Raises tax exemption limit to Rs 3lk vs Rs 2.5lk for senior citizens

4. No change in tax laws for Hindu Undivided Families

5. Education cess to continue at 3%

6. To raise Housing interest deduction limit to Rs 2 lk

7. Raises 80C investment cap to Rs 1.5 lk

8. To raise investment allowance for investments above Rs 25 cr in units

Budget 2014:

FM retains tax rebate on dividend by foreign companies

FIIs' portfolio income to be treated as Capital Gains

FM : Good news for tax payers, Income tax exemption hiked by Rs 50000 to 2.5 lakhs

Budget 2014:

FM retains tax rebate on dividend by foreign companies

FIIs' portfolio income to be treated as Capital Gains

New tax slabs -

Upto 2.5 lakh -       NIL
Above 2.5-5 lakh -  10%
Rs 5-10 lakh -        20% 
Above Rs 10 lakh - 30% ;
Sr Citizen : Above 60 (Upto 3lakh)/Above 80 (Upto Rs 5 lakh) - NIL