Key Highlights – Union Budget 2018

Dear Learned Members, Hope you will enjoy our corporate law updates. Please find below the key highlights of Union Budget 2018 for your information and reference purposes. TAX: No change in personal Income Tax slab Rates. Standard deduction of Rs 40,000 allowed for transport, medical reimbursement for salaried tax payers. Senior citizens get Rs. 50,000/- exemption for medical Insurance. Senior citizens get Rs. 10,000/- exemption in Income from FDs. 100% tax deduction is allowed to co-operative societies. LTCG exceeding Rs 1 lakh will be taxed at 10% without indexing. Short term capital tax remains at 15% . 25% Corp tax...

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