Union Finance Budget for Financial Year 2007-2008, Government of India... India is Shining
Union Finance Minister (Govt. of India) P Chidambaram presented the Union Budget for 2007-08 in Parliament on Wednesday, 28th Feb. 2007. The Following are the Highlights: While Chidambaram kept income tax limit unchanged, he increased the threshold limit by Rs 10, 000 giving every assessee a relief of Rs 1, 000. Deduction in respect of medical insurance under Section 80 (D) increased to Rs 15, 000 and Rs 20, 000 for senior citizens. Exemption limit for women was increased to Rs 145, 000 and for senior citizens to Rs 195, 000. Dividend distribution tax raised from 12.5 to 15 per cent. ESOPs to be brought under FBT. ...
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