| |
Finance minsiter Pranab Mukherjee may not have won accolades from the stock market for his maiden budget announced on July 6 but has surely brought some smile to students and the salaried class.
He did put an end to fringe benefit tax applied on perquisites offerd by companies to its employees, offered full interest subsidy on education loans for students taking course in approved educational institutions and hiked the exemption limits on incomes of men and women by Rs 10,000 giving something to smile to a young demographic in India.
We asked Anil Rego of Right Horizons, an end-to-end investment advisory and wealth management firm, to give the pros and cons of these measures on salaried employees and students.
In the first of this three-part series he talks about abolition of fringe benefit tax.
Over to Anil.
The benefit has come in terms of ESOPs which have been taken out of FBT (fringe benefit tax) purview and brought under individual taxation. Salaried employees who are eligible for ESOPs (employee stock option plans) will end up saving 3 per cent tax effectively because the 10 per cent surcharge on individuals has been removed.
For more click on the video above.
Reader invite:
Would you also like to share how the budget has affected you or offer your expertise on how it will benefit or harm taxpayers? If yes, then simply:
And be sure to email us the link to your video at getahead@rediff.co.in with the subject line 'The impact of budget on taxpayers'. We will feature the best on rediff.com.
Comment
article