The Union Budget 2018 highlights.

The Union Budget 201 8 was presented by Union Finance Minister Arun Jaitley on 1St Feb 2018. Following are the highlights

- Long Term Capital Gains , Tax of 10% on gains above Rs.1 Lakh‘ on Sale of Equity . Shares held for more than one year, without indexation benefit.

- Minimum Support Price of all crops increased to 1.5 times the cost incurred by the farmers.

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- A flat deduction of Rs.40,000 for Salaried Individuals introduced in lieu of the Transport & Medical ReimbursementAllowance.

- N0 Change in the Income Tax Slabs.

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- Hike in Customs Duty on Televisions, Mobile Phones, Furniture, Footwear, Cosmetics & Diamonds.

- 3% Education cess levied on Personal Income Tax & Corporate Tax replaced by a 4% Education & Healthcare cess.

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- For Senior citizens the exemption limit on Interest

With 980 arriVals & take offs in 24 hours, Mumbai has broken its own record (974) to becoma the world’s busiest single runway airport.

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income earned on Post Office & Bank Deposits has been enhanced to Rs.50.000 from Rs.10.000 a year and the Deduction available on payment of Health Insurance Premium & Medical expenditure has been raised to Rs.50.000 from Rs.30‘,000.

- For the Railways an allocation of Rs.1,48,528 crore has been made towards Capital Expenditure a major portion of which is to be used for capacity addition.

Article by :- Pratham Sharma