Union Budget 2013-14 Highlights!

Finance Minister P Chidambaram today presented the Union Budget for the year 2013-14 in Lok Sabha.Here is list of which is costlier and which is cheaper.

Highlights of Union Budget 2013-14

No change in income tax slabs

Service Tax on Film Industry scrapped.

Relief of Rs 2,000 for taxpayers in tax bracket of Rs. 2-5 lakh

10% surcharge on persons with taxable income of over Rs. 1 crore

Tobacco products, SUVs and mobile phones to cost more

Income limit under Rajiv Gandhi Equity Savings Scheme raised to 12 lakh from Rs 10 lakh

TDS of 1 % on land deals over Rs. 50 lakh

First home loan of up to Rs 25 lakh to get extra interest deduction of up to Rs 1 lakh

Duty free limit of gold import increased to Rs. 50,000 for male passengers and Rs 1 lakh for female passengers

India’s first women’s bank to be set up by October

Concessional six per cent interest on loans to weavers

Rashtriya Swasthya Bima Yojana benefit extended to rickshaw pullers, auto and taxi drivers, among others

‘Nirbhaya Fund’ of Rs 1,000 crore to empower women and provide safety in the wake of Delhi gang-rape incident

Fiscal deficit for 2013-14 pegged at 4.8 pc of GDP and 5.2 per cent in 2012-13

Plan expenditure pegged at Rs 5,55,322 crore and non-Plan at Rs 11,09,975 crore

New taxes to collect Rs 18,000 crore for government

Voluntary Compliance Encouragement Scheme launched for recovering service tax dues

Rs 14,000 crore earmarked for capital infusion in public sector banks in 2013-14

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