Expected Questions from Union Budget 2015-16 : Set 5

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• Service Tax rate hiked to ___% from 12.36% ? 
• 14%
• Tax free bonds were proposed in budget for ?  
• Roads, railways, irrigation projects
• On which date Union Budget 2015-16 was presented in Parliament ? 
• 28th February 2015
• Mudra banks to be established with capital of Rs.___ crore ? 
• 20000
• Rs. ____ deduction for contribution to New Pension Scheme ? 
• Rs. 50,000
• Name the Union Finance Minister who presented the Union Budget 2015-16 in Parliament ? 
• Arun Jaitley
• Personal Income Tax limit was not changed in Union Budget 2015-16. What is the present Personal I-T exemption limit ? 
• Rs 2.5 lakh
• Health Insurance Premium deduction hiked from Rs. 15,000 to ? 
  
• Rs. 25,000 (for senior citizens to Rs. 30,000)
• An additional ___% surcharge on people earning over Rs. 1 cr was put forth in the budget 2015-16 ? 
• 2%
• What change was made in the Wealth tax ? 
• Wealth tax abolished
• DTC was dropped in the Budget 2015-16. Expand DTC ? 
• Direct Taxes Code
• Corporate tax to be reduced from 30% to ___ over next four years ?
• 25%
• GAAR implementation deferred by 2 years to ? 
• April 2017
• Transport allowance exemption hiked to Rs.1,600, from ____ per month ?  
• Rs. 800
• PAN card is must for all purchase above ____ rupees as proposed in Budget 2015-16 ? 
• Rs. 1 lakh

Read Set 1 of Expected Questions from Union Budget 2015-16 from here 

Read Set 2 of Expected Questions from Union Budget 2015-16 from here 

Read Set 3 of Expected Questions from Union Budget 2015-16 from here

Read Set 4 of Expected Questions from Union Budget 2015-16 from here
 

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