Tax exemption limit for senior citizens changed
from Rs.2.5 lakh to Rs.3 lakh No change in tax rate. For senior citizens Exemption limit raised to Rs 3 lakh Raises 80C investment cap to Rs 1.5 lakh No changes made in corporate or other direct taxes. Companies to get 15 percent investment allowance for fresh
investments above Rs 25 crore. Rate of tax up from 10 percent to 20 percent for long-term gains. FM raises PPF/ 80C exemption limitceiling to Rs 1.5 lakh Exemption on housing loans interest on
self-occupied property increased from Rs 1.5 lakh to 2 lakh Education cess to continue at 3 per cent
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