Deduction in corporate tax rate and phasing out of the exemption in a planned manner clearly shows a move towards a more stable and matured tax regime.
Budget 2015 has come-up with few amendments for individual taxpayers but the 'super-rich' have been saddled with additional tax liability.
The minister, however announced that, additional 2 per cent surcharge will be implemented on people earning over Rs 1 crore.
Finance Minister Arun Jaitley has announced a three-tier Social Security Scheme apart from other social security measures for the masses.
It's time now to do a deep dive and see how well the FM has managed to match the nation's expectations and where the individual tax payer stands.
Finance Minister Arun Jaitley presented the Union Budget for 2015-16 on Saturday. Here's the impact of indirect tax changes on individual consumers -