Here is what affected your personal finance in 2015

From a hike in service tax to an additional surcharge for the 'super rich', taxes went up in 2015 while at the same time deductions under National Pension Scheme and transport allowance were increased. Here we list things that affected the delicate balance of your personal finance.

Service tax: The service tax rate of 14 per cent came into effect from June 1 that made eating out in restaurants, insurance and phone bills expensive, among many other things. The service tax was earlier levied at the rate 12.36 per cent including education cess.

Insurance: With the increase in service tax, the insurance premiums went up in 2015. Exemption was provided under Varishtha Pension Bima Yojana.  For senior citizens the premium went up from Rs 20,000 to Rs 30,000. For people above 80 years of age, who are not covered by health insurance a deduction of Rs 30,000 has been allowed on medical expenditure. Premium on health insurance policy for people below 60 years increased from Rs 15,000 to Rs 25,000. Third-party motor insurance premiums for two-wheelers, private cars also saw an increase in 2015.

Swachh Bhart cess: With an additional 0.5 per cent imposed as the tax for Clean India campaign, the service tax rose further to 14.5 per cent.

National Pension Scheme: Contribution to NPS called for an additional deduction of up to Rs 50,000, apart from the Section 80 C limit of Rs 1.5 lakh.

Transport allowance: From Rs 800 per month, the transport allowance exemption was increased to Rs 1,600 per month. It means you can claim an extra Rs 9,600 for deductions to help save Rs 2,966 a year.

Surcharge: An additional 2 per cent surcharge was levied in 2015 on the 'super-rich' with an income of over Rs 1 crore. The total surcharge in 2015 totalled to 12 per cent as against 10 per cent earlier.