Big Story

Union Budget 2015: Income tax slabs unchanged; Jaitley abolishes wealth tax, levies surcharge on super-rich
Finance minister Arun Jaitley on Saturday abolished the wealth tax on super-rich with an income of Rs 1 crore or more per year and replaced it with a surcharge of 2%. He also proposed to cut corporate tax from 30 % to 25% over next the next four years. The BSE Sensex and Nifty rose nearly 1%, recovering from earlier falls after Finance Minister Arun Jaitley proposed to cut the corporate tax rate over the next four years and delayed the implementation of planned GAAR by two years. Poll: How do you rate Jaitley's budget?Full Coverage: Union Budget 2015
  • Jaitley arrives

    Jaitley presents budget 2015-16

    Jaitley arrives at Parliament. This is Modi government's first full-fledged budget. (Mohd Zakir/HT Photo)

  • Arun Jaitley leaving office

    Jaitley presents budget 2015-16

    Finance minister Arun Jaitley holding budget papers and his MOS Jyant Sinha (R) with finance secretaries leaving his office for the Parliament.(Mohd Zakir/HT Photo)

  • Ballot papers sniffer dog

    Jaitley presents budget 2015-16

    A sniffer dog checks the Union Budget 2015 - 2016 documents to be unveiled by finance minister Arun Jaitley in the Parliament. (AFP Photo)

  • Arun Jaitley

    Jaitley presents budget 2015-16

    Finance minister Arun Jaitley leaves his office to present the Union budget 2015-16 in New Delhi. (Reuters)