Budget Highlights - 16 Last
NEW DELHI: * Changes in excise on tobacco items, including cigarettes, paan masala and gutkha
* Tax exemption for contributions to 'Swachh Bharat Abhiyan' and 'Clean Ganga Fund' by corporates as part of CSR
* Increase in limit of deduction in health insurance from 15,000 to 25,000
* For senior citizens, this limit to be increased from 30,000 from present 10,000
* Deduction limit of 60,000 on account of serious diseases to be enhanced to 80,000 for senior citizens
* Exemption on contributions to Pension Fund hiked from 1 lakh to 1.5 lakh per year
* All investment payments in 'Sukanya Scheme' will be fully exempted from tax
* Transport allowance exemption raised from 800 to 1,600 per month
* Wealth Tax to be abolished and additional two percent tax on super rich to yield 9,000 crore annually
* Excise duty on footwear with leather uppers to be reduced to six percent
* Service tax and education levy to be consolidated from 12.36 percent to 14 percent
* Swachh Bharat cess of two percent, if necessary
* Law against Benami property in fight against black money
* Quoting PAN essential in property transactions
* Splitting of transaction not to be permitted
* Tax regime to be rationalized
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