Budget 2015 Highlights

These items are going to be costlier in 2015-16 :-

1) Your Telephone Bill (Increase of 1.64% in Service tax)

2) Your Mobile Bill (Increase of 1.64% in Service tax)

3) Your Restaurant outing Cost (Increase of 1.64% in Service tax)

4) Cost of your New House/Flat (Increase of 1.64% in Service tax)

5) Courier Service

6) Internet Charges

7) Air Travel

8) Cable/DTH Charges

9) Beauty Parlor Service Charges

10) Gym Service Charges


These items are going to be cheaper in 2015-16 :-

  • Footwear
  • Leather Goods


These items may not have any change in their prices in 2015-16 :-


  • Two Wheelers
  • Motor Cars


Some Positives in Common man’s Perspective :-


  • Increase in exemption for Local Conveyance for salaried employees from Rs. 800/- to Rs. 1600/-
  • Increase in Deduction on account of mediclaim insurance premium from Rs.15000/- to Rs. 25000/- incase of Individuals and from Rs. 20000/- to Rs. 30000/- for Senior Citizens
  • Investment in Sukanya Samriddhi Scheme will qualify for deduction u/s. 80C and Income from this scheme will be exempt from tax.
  • Deduction for differently abled persons increased from Rs. 50000/- to Rs.75000/-.
  • Deduction for contribution to New pension Scheme u/s. 80 CCD increased from Rs. 1 Lakh to Rs. 1.5 Lakhs.
  • Excise duty on Cigerrates hiked.
  • GST mostlikely from 1st April 2016 will enable ease of doing business in India.

These are the some of the bitter pills :-

  • Cash Transactions in excess of Rs. 20000/- hitherto allowed for Property transactions will not be allowed from now on. Any payment in excess of Rs. 20000/- should necessarily be by way of Crossed Cheque/Demand Draft/Net Banking.
  • Increase in Steel prices & Service Tax rate is a double blow for Home/Flat buyers as this move will increase the cost of the same.
  • Cost of Flying to be costlier
  • Wealth tax abolished. However, the details of the assets and liabilities to be provided in the Income-tax return itself.


5 thoughts on “Budget 2015 Highlights”

  1. Yes. The date of change in service tax is yet to be notified. This will be after passing of the Finance Bill in both the houses of the parliament and assent by the President of India.

  2. Thanks a lot Sir for sharing this informative post with us. I just wanted to know is there any changes in income tax slab for 2015-2016.

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