Money Excel - Personal Finance Blog

Menu
MENUMENU
MENUMENU
  • Home
  • Business Ideas
    • 225 Small Business Ideas
    • 40 Online Business Ideas
    • 20 Business Ideas for Beginners
    • 20 small manufacturing business
    • 30 Food Business Ideas
    • 100 Business Ideas low investment
  • Stock Market
    • Best Demat & Trading Accounts 2020
    • Best Stocks 2020 by Experts
    • Best Virtual Trading Apps
    • Best Stock Screener
    • Best Discount Brokers in India
    • Multibagger Stocks of LockDown
    • Rakesh Jhunjhunwala Portfolio
  • Mutual Funds
    • Best Mutual Funds 2020-21
    • Best Direct Mutual Fund Platform
    • Best Mutual Fund Mobile Apps
  • Incometax
    • Income Tax Slab FY 2020-21
    • Income Tax Calculator FY 2020-21
    • Income Tax Refund Request
    • Pay Advance Tax Online
    • Download New 15G -15 H Forms
  • Investment
    • Best Investment Ideas 2020
    • Long Term Investment Options
    • Best Investment Regular Income
    • Best Investment Options NRI
  • Credit Card
    • Best Credit Cards 2020-21
    • Best credit card for online shopping
    • Best Forex Card in India
    • Best Business Credit Cards
    • Credit Cards against Fixed Deposit
  • Insurance
    • Best Term Insurance Plans 2020
    • Best Health Insurance 2020
    • Best LIC Policy 2020
    • Best Car Insurance Companies
    • Best Mobile Insurance Companies
  • Downloads
Home
Personal Finance
Union Budget 2015 – A Review

Union Budget 2015 – A Review

Raviraj Parekh June 27, 2020

Budget 2015

Union Budget 2015– “Good days are coming” this was main slogan given by BJP government before coming in to power. Every citizen of India believed in this dream and voted for BJP, but it seems we have to wait for good days. Union Budget 2015 was big disappointment from good day’s point of view.

Let’s Review Union Budget 2015-16 & its impact on you in detail.

Union Budget 2015 – Review

For Individual Tax Payer:-

Do not miss below posts -
  • Credit Card Loan or Personal Loan – It’s your choice
  • Cost of Child Education – Planning and Calculator
  • India Rich List 2013
  • Tax Rate (Slab) remains unchanged for individual tax payer for FY15-16.
  • 80 C limit remains unchanged -1.5 lac.
  • Wealth Tax is abolished. Separate 2% additional surcharge being levied on income exceeding 1 Cr.
  • As medical expense are increasing section 80D exemption limit of 15000 Rs/- is enhanced to 20,000 Rs/-. For senior citizen this limit will be 30,000 Rs/-.
  • It is proposed to increase 80DDB limit to Rs. 80,000 for very senior citizen.
  • Section 80DD and section 80U is proposed to be amended, new limit applicable for 80DD is 75,000 Rs/- and for 80U it is 1.25 lakh.
  • Additional deduction of 50,000 Rs/-for contribution to NPS under section 80CCD
  • Section 80 G is amended and it is proposed to provide 100% deduction for donation towards Swachh Bharat Kosh and Clean Ganga Fund.
  • Sukanya Samriddhi Account is now fully exempted from income tax, this includes payments to the beneficiaries including interest payment.

Income tax slab 2015

For Individual Buyers:-

Service Tax is hiked to 14% from 12.36%. Changes are also made for custom duty & excise duty. Custom duty is reduced on 22 different items.

Following thing will become costlier after budget.

  • Cigarettes, chewing tobacco, Gutkha and Pan masala
  • Telephone and Mobile Bills
  • Food and Hotel Bill
  • Tution Fees
  • Gym and Beauty Treatment
  • Car Maintenance
  • Courier & packaging
  • Taxi Services
  • Business class air travel
  • Cement and raw material for real estate
  • Visit to amusement park
  • ATM , Demand Draft and Loan processing charge
  • Life Insurance premium

Following thing will become Cheaper after budget.

  • Locally made mobile phone
  • LED and LCD panels
  • Computer Tablets
  • Solar Energy equipment
  • Microwave Ovens & Refrigerator
  • Package food and vegetable
  • Lather Footwear

Most-liked about Budget 2015:

  1. Proposal to reduce corporate tax from 30% to 25% over the next four years.
  2. Pradhan Mantri Suraksha Bima Yojna to cover accidental death risk of 2 Lakh for a premium of just 12 Rs/- per year.
  3. Wealth-tax is replaced with additional surcharge of 2% for super rich.
  4. 10 year imprisonment for offence related to black money & evasion of tax. 

Most-disliked about Budget 2015:

  1. No revision for income tax slab
  2. Service tax hiked from 12.36% to 14%.
  3. For Gold Import duty stays at 10%.
  4. Implementation of GST is delayed for 1 year.

Do share your views on Union budget 2015-16.

Do not miss below posts -
  • Two kinds of money problems – Rich Poor Story
  • Stay away from Personal Loan
  • Simple Ideas for making more money
Prev Article
Next Article
Tags:budget budget 2015 budget highlights budget live budget news equity market Finance Minister income tax indian economy review union budget tax payer Union budget 2015 union budget 2015-16 Union Budget 2015-2016 A Review Union Budget 2015-2016 Review

About The Author

Raviraj Parekh

Raviraj is the man behind moneyexcel.com. He is PGDBA, engaged in blogging for 10 years. Moneyexcel blog is ranked as one of the Top 10 Personal Finance Blog in India. He is not affiliated with any financial product, service provider, agent or broker. The purpose of this blog is to spread financial awareness and help people in achieving excellence for money. Please note that the views expressed on this Blog/Comments are clarifications meant for reference and guidance of the readers to explore further on the topics. These should not be construed as investment advice or legal opinion.

One Response

  1. Mohammed Ali

    I like the below announcements on this budget:
    1. Additional deduction of 50000 80CCD
    2. Sukanya Samriddhi Account
    3. Pradhan Mantri Suraksha Bima Yojna

    April 19, 2015

Leave a Reply

Cancel reply

IIFL Demat Account

Search

Top Posts & Pages

  • Rakesh Jhunjhunwala Portfolio Holdings - January 2021
  • How to check Property Records and Land Records online in India?
  • Income Tax Calculator FY 2020-21 (AY 2021-22) – Excel Download
  • 20 small manufacturing business ideas with low cost
  • Cash Deposit Machine Locator – How to find CDM Near You?
  • LIC Premium Paid Certificate Download For Income Tax Purpose - Online
  • 225 Small Business Ideas with Low Investment in 2021-22
  • 30 Food Business Ideas with low investment
  • 10 ways to Convert Black Money to White
  • Top 60 Manufacturing Business Ideas

Subscribe to Blog via Email

Join 5,474 other subscribers

Follow MoneyExcel

Money Excel – Personal Finance Blog

Personal Finance Blog
Copyright © 2021 Money Excel - Personal Finance Blog
| About |Downloads | Contact Us | Sitemap | Disclaimer | Privacy Policy |