UNION BUDGET 2014-2015
The first budget of Modi's government will be presented on July 10,2014 by the Financial Minister Arun Jaitley, while Rail Budget will be presented on July 8, 2014.In this union budget of 2014-15 salaried class and industries has a lot of expectation from the newly appointed finance minister Arun Jaitley, be it tax exemption, hike in the transport allowances, increasing the rebate cap on home loans, subsidiaries to the farmers and the issues like women's and senior citizen's taxation.
The major heads to be looked upon during budget are as follows:
Income tax exemption limit - The tax free income slab is expected to increase from the current limit of 2 lac to 3 lac , and for women it is expected to go up till 3.5 from current limit of 2 lac.
Retail Investors- Government should bring more schemes not only to benefit first time investors ( tax benefits provided under Rajiv Gandhi Saving Schemes to first time investors in equity segment) but also to the other investors.
The government this time has to keep in mind the expectation of common man from union budget, so government have to dealt this time in such a manner that this budget proves a win - win for the both public as well as government.