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Finance Minister Budget Budget Proposal Revised Proposal
Jaswant Singh 2003-04

Effective 5% hike in fertiliser prices proposed

Proposal rolled back owing to opposition from various political factions.

Yashwant Sinha 2002-03

Dividend to be taxed at the hands of the shareholder or the mutual fund owner at the applicable tax bracket.

Dividend earnings brought under Section 80L. That means dividends earned from companies and mutual funds upto a maximum of Rs 9,000 are tax exempt. Also, dividends earned below Rs 1,000 will not be subject to TDS, giving relief to small investors.

Yashwant Sinha 2002-03

Sec-88 benefits reduced from 20% to 10%

Sec-88 benefit for individuals earning between Rs 1.5 lakhs to 5 lakhs revised to 15%. Individuals earning above Rs 5 lakhs get no Sec 88 benefits.

Yashwant Sinha 2002-03

5% service tax

5% service tax rolled back for the savings portion of the premium.

Yashwant Sinha 2002-03

LPG price hiked by Rs 40 per cylinder

Rs 20 rolled back

Yashwant Sinha 2002-03

The Finance Bill 2002 had proposed to restrict the tax deduction to 90% of profits or gains derived from export of articles or computer software for one year - i.e. assessment year 2003-04.

Restoration of the 100% income tax deduction on export profits to units in special economic zones (SEZs), software technology parks (STPs) and 100% EOUs.

P. Chidambaram 1997-98

Levy of income-tax on gifts received

Proposal totally withdrawn

P. Chidambaram 1997-98

Registrar's value in property transactions be taken as sale consideration instead of the actual consideration for capital gains purpose

The proposal was withdrawn and the status quo restored. As such for capital gains purposes, the actual sale value will be relevant and not the Registrar's value