Multiple choice

Which of the following statement is not correct in relation to the Union Budget 2007-08?

  1. Tax on dividend distributed by companies hiked from 12.5% to 15%

  2. Banking cash transaction tax exemption limit increased from Rs. 25,000 to 50,000

  3. A sum of Rs. 25,000 crores allocated for Natioanal Scholarship Scheme for students of class IX to XII.

  4. Education cess on all taxes increased from 2% to 3%.

  5. Budget allocated special funds to boost the production of rubber, coffee and spices.
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C Correct answer

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