Many tech-crazy youngsters are left disappointed with the announcement of a significant six per cent hike in excise duty on mobile phones costing Rs 2,000 and above in this budget.
“This year’s increase is much higher as compared to last year’s, when the price went up by just one per cent,” said Umar Bin Salam, a salesman at Digi Store, an electronics store at Park Lane.
He said the prise rise will definitely impact buyers of high-end phones, who are mostly youngsters. “Even Rs 1,000 can make a lot of difference,” he noted.
“The release of Samsung’s Galaxy S3 and Note - 2 brought down the prices of other models, elating the gadget-freaks,” said Siddartha Narsimgam, a B.tech student.
“I was planning to buy a Motorola RAZR, which costs around Rs 22,000, but after this hike, I will have to shell out an extra Rs 1,100,” he rued.
Unchanged Tax-slabs Deject Employees
Hyderabad: Employees who were hoping to get some reprieve from the escalating prices were left crestfallen after the income-tax slabs remained unchanged. “With the prices of normal commodities sky-rocketing, I thought the government would at least relax the tax slabs,” lamented Mohammed Rafi, an MNC employee who earns Rs 2.5 lakh per annum. Those within the Rs 2 lakh to Rs 5 lakh bracket, with taxable income of 10 per cent, were left the most dispirited . “I have to pay Rs 10,000 as tax every year. It is unfair as the final amount I get in hand is cut by 20 per cent, with the rest being deducted for provident fund,” complained Vishal Singh, a government employee.
Planning to Buy an SUV? Think Again!
Hyderabad: Now get ready to cough up more money to buy an SUV (Sports Utility Vehicle) as excise duty on these vehicles has been increased to 30 percent from 27 percent earlier. A significant three percent increase in the cost of SUVs is definitely going to dent customers’ pockets. “The increase, which will be implemented on all our SUV vehciles from April onwards, will be on the ex-showroom prices,” said Shailender Singh, sales manager at AML motors, a Mahindra & Mahindra dealer. “For example, one of the cars named XUV which costs Rs 13,40000 now, will be dearer by at least Rs 30,000,” Singh expounded. Girish Kumar, the sales manager at Honda showroom in the city, said his company will make the increase known only after details of the increase are clear.
4,000 in AP to pay more income tax
Hyderabad: There are about 4,000 individuals in the state who have an annual taxable income of more than Rs 1 crore and the Income Tax department will get 10 percent more than the regular income tax from them in the form of surcharge.
With the announcement of surcharge on individuals who earn more than Rs 1 crore per annum, these individuals would have to pay extra to the Income Tax department from this year. Thursday’s Union budget levied the surcharge.
There are total 42,000 such individuals in the country, IT officials said.