What happens when you get an extra day in the year ? Well, the Indian Government decides to unveil the new budget. A mixed bag, this year. More taxes, more ways to take your money. Nothing given back. The trickle-down news is that cars will get expensive. Specially diesel vehicles. And specially the high end variants. They will attract a 5% additional cess under various monickers. Just after this news, they increased the price of diesel too.
But the rope-a-dope news was about the EPF withdrawals. After decades of mulling over this, the government has proposed a tax on EPF withdrawals. It will be a case of double taxation. The EPF component is part of the gross salary, on which tax is already paid. If the withdrawal is taxed, that will be the second tax on the same amount, with its interest.
Speaking of good days, over on the west side of the world, Leonardo Di Caprio finally won the best actor oscar after all those years of being nominated. Here is a person who found success to early, but had to wait 20 years to get the highly coveted academy award. Its not even his best acting in the Revenant. But this year, surprisingly, there was lack of competition in the category. The king of the world not ought to retire.
Indian Budget 2016, Oscar Leonardo DiCaprio Revenant tax SUV diesel