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Chidambaram and your pocket

Chidambaram and your pocket

Select measures taken by the finance minister in the past four Budgets that made you richer—or poorer.

Select measures taken by the finance minister in the past four Budgets that made you richer—or poorer


Service tax raised from 8% to 12%; plus 1% surcharge and several new services
Impact: Poorer

Securities transaction tax of 0.15% introduced after removing long-term capital gains tax on equities
Impact: Richer

Senior Citizens Savings scheme at 9% interest rate for people above 65 years
Impact: Richer

RBI tax-free bonds scrapped. Relaunched at lower interest rate and made taxable
Impact: Poorer

Tax-free income threshold raised to Rs 1.1 lakh a year for males, Rs 1.45 lakh for females and Rs 1.95 lakh for senior citizens
Impact: Richer

Tax on cash withdrawal of over Rs 25,000 a day from current account of banks
Impact: Poorer

Omnibus Section 80C replaces web of tax rebates. Annual exemption limit raised to Rs 1 lakh
Impact: Richer

Fringe benefit tax introduced to bring a number of perks under the income tax net
Impact: Poorer

2% education cess levied on all taxes; later raised to 3%
Impact: Poorer

1-by-6 scheme to determine obligation to file return abolished
Impact: Neutral

Tax exemption on interest income of up to Rs 10,000 a year removed
Impact: Poorer