Indian Union Budget 2008-2009

Dear Friends,

Here is the most important part of budget speech:

Budget 08 fills common man's pockets

In news that will bring a smile on many faces, the FM has provided some relief to all tax payers and has kept up to their expectations.

 

è      Hike in the personal income tax exemption limit to Rs 1.5 lakh from the prevalent Rs 1.1 lakh.

è      The personal income tax exemption limit for women is up from Rs 1.45 lakh to Rs 1.8 lakh and for senior citizens, it’s up from Rs 1.95 lakh to Rs 2.25 lakh.

è      Income above Rs 5 lakh will attract 30% income tax, income in the range of Rs 5 lakh to Rs 3 lakh will attract 20% income tax and income in the range of Rs 1.5 lakh to Rs 3 lakh will attract 10% income tax.

Slab 5,00,000 and above income tax 30%.

Slab 3,00,000 – 5,00,000 income tax 20%.

Slab 1,50,000 – 3,00,000 income tax 10%.

Upto Rs 1,50,000 nil income tax.

 

Short term capital gains up from 10% to 15%.

Still there is ZERO tax on long term capital gains; in short FM forcing all of us to stay invested for longer horizons (at least for more than 365 days) in mutual funds & stock / commodity market.

 

More details on the links bellow:

 

http://mytoday.com/v/http/content.mytoday.com/wiki/library/index.php/Union_Budget_08-09

On the above link you will also find rail budget 08 – 09 as well as Union budget 07 – 08.

 

HIGHLIGHTS - India's 2008/09 annual budget

http://www.cmlinks.com/pub/budget/budget0809.html

http://in.reuters.com/articlePrint?articleId=INIndia-32217720080229

http://timesofindia.indiatimes.com/India_Business/Highlights_of_Budget_2008/articleshow/2825237.cms       

http://inhome.rediff.com/money/2008/feb/29budget5.htm

http://www.indiainfoline.com/news/innernews.asp?storyId=60507&lmn=1        

http://www.equitybulls.com/admin/news2006/news_det.asp?id=26061

http://www.deccanherald.com/Content/Feb292008/national2008022954843.asp?section=updatenews         

 

Budget with ET:

http://budgetwithet.economictimes.indiatimes.com/

 

Official Web Site of Govt. of India:

http://indiabudget.nic.in/

Live Webcast from Govt. Site:

http://webcast.gov.in/indiabudget/

 

Equity master:

http://www.equitymaster.com/budget08/comments.asp    

http://www.equitymaster.com/budget08/

 

CNN Money: India's 2008-09 federal budget seen as 'populist' - analysts

http://money.cnn.com/news/newsfeeds/articles/newstex/AFX-0013-23293056.htm

 

other news service providers & researchers:

http://www.moneycontrol.com/budget2008/

http://in.budget.yahoo.com/article-archive.php?page=budgetnews        

http://www.aol.in/news/

http://www.bloomberg.com/apps/news?pid=20601091&sid=aPqX8GIhw9lg&refer=india         

http://www.rediff.com/money/budget08.html        

 

Best Regards,

chirag gandhi

a mudra group venture