Union Budget 2015 cont….taxes

FM increases rate of Service tax from 12.36% to 14% (all inclusive)
Services of Common Effluent Treatmennt Plant shall be out of the purview of Service Tax
Rs. 30,000 deduction for expenditure on health treatment for super senior citizens: FM
Deduction for health insurance premium increased from Rs. 15,000 to Rs. 25,000: FM
Wealth Tax abolished and replaced with 2% additional tax on super-rich with income of above Rs. 1 crore
EC and SHEC to be subsumed in Excise Duty; Excise Duty rounded off to 12.5%
Additional deduction of Rs. 50,000 under Section 80CCD for contribution to Pension Contribution Scheme
Additional deduction for differently abled person of 25,000 under Sections 80DD and Section 80U, says FM

Vrind Jain administrator