TAX RATES

• Income Tax threshold exemption limit raised by Rs. 10,000 for individuals / HUFs. 
• Consequently, exemption limits would be:
•   Basic Limit - 1,10,000
•  Woman Assessee - 1,45,000 
•  Senior Citizen - 1,95,000
• Surcharge of 10% (2.5% in case of foreign companies) on SMEs having income upto Rs. 1 crore removed 
• Corporate Tax Rates remain unchanged 
• Dividend Distribution Tax raised from 12.5% to 15% for Corporates 
• Dividend Distribution Tax for Money Market Mutual Funds and Liquid Funds raised to 25% on dividends paid to all investors. 
• Education cess raised from 2% to 3%