2015 Union budget of India
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| Submitted by | Arun Jaitley, Finance Minister |
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| Presented | 28 February 2015 |
| Parliament | Indian Parliament |
| Party | Bhartiya Janta Party |
| Website | www |
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2015 Union budget of India refers to 2015-2016 Union budget of India. The beginning of the budget printing began on 19 February 2015 with the traditional halwa ceremony. From 20 February until the presentation of budget about 100 government employees remained locked up in the North Block of the Secretariat Building, New Delhi, which houses the budget printing press, to maintain secrecy. The budget was presented on 28 February by Finance Minister Arun Jaitley.
See also: Income Tax In India
There was no change in income tax slabs of individuals. The wealth tax was abolished. The surcharge on individuals, Hindu Undivided Families (HUF), associations of persons (AOPs), bodies of individuals (BOI)s, artificial juridical persons, firms, cooperative societies and local authorities having income earning ₹1 crore or more, was raised from 10% to 12%.
The permitted deduction limit was raised up to ₹25,000 towards health insurance for ordinary citizens, an increase from previous ₹15,000. For senior citizens, it was raised to ₹30,000 from previous ₹25,000. For very senior citizens, i.e. 80 or above, who don't have insurance, a deduction of ₹30,000 was allowed. A deduction up to ₹80,000 was allowed on the treatment of select very serious diseases for very senior citizens. A deduction up to ₹25,000 was allowed for differently-abled citizens.
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