Finance Minister Arun Jaitley on Monday presented the Union Budget for 2016-17.
The new 10 per cent dividend tax will be payable only on dividend income over and above Rs 10 lakh threshold in a year, according to an amendment to the Finance Bill 2016 approved by Lok Sabha.
FM proposed rationalisation of various tax exemptions.
If you plan it out, instead of rushing it in the last moment, you will realise how much you have saved and the difference it makes to your personal wealth.
The Budget touches a few highs and lows as far as personal finance is concerned, and one needs to be aware of them in order to optimise on one's investment plans.
Equity-linked savings scheme, PPF and Sukanya Samriddhi Yojana are recommended instruments.
Many exemptions make little sense, such as a monthly exemption of Rs 100 for college education and Rs 300 for hostel fees.
Encouraging domestic financial savings through focused measures would help mobilise long term resources for funding infrastructure and economic development.
Arun Jaitley had a tough fiscal hill to climb.
The government should now focus on governance and monitoring the supply side to manage inflation, says M V Subramanian.
Mohandas Pai took part in an hour-long chat on rediff.com
Finance Minister P Chidambaram, while addressing the Carnegie Endowment for International Peace on "Recapturing India's Growth Momentum" in Washington on Thursday, said that the leading think tank need not launch an initiative to explore how India will vote in 2014, declaring that the Indian polity will vote the Congress back into power.
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