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Following are highlights of Union finance budget 2012-13, Inflation would increase further with price of virtually everything rising. Pranab Mukherjee raised tax exemption slab by just 20000 per annum costing 4500 crore to govt but increasing service tax in order to get 45000 crores additional revenue...so does he think we are headless as govt??
So readers Do you like the budget 2012-13?? is it pass or fail from your side?? leave a comment for healthy discussion..
-Tax burden for individuals to come down: Income tax exemption limit raised from Rs 1,80,000 to Rs 2,00,000; 10% tax for 2-5 lakh income; 20% for 5-10 lakh and 30% beyond Rs 10 lakh; Savings bank account interest up to Rs 10,000 exempted from tax. -Many services and goods to cost more: No change in corporate tax rate, but standard rate of excise duty, as also service tax rates, raised from 10% to 12%; No change in peak customs duty of 10% on non-agri goods.
So readers Do you like the budget 2012-13?? is it pass or fail from your side?? leave a comment for healthy discussion..
-Tax burden for individuals to come down: Income tax exemption limit raised from Rs 1,80,000 to Rs 2,00,000; 10% tax for 2-5 lakh income; 20% for 5-10 lakh and 30% beyond Rs 10 lakh; Savings bank account interest up to Rs 10,000 exempted from tax. -Many services and goods to cost more: No change in corporate tax rate, but standard rate of excise duty, as also service tax rates, raised from 10% to 12%; No change in peak customs duty of 10% on non-agri goods.
