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Union Budget 2012 Highlights – IT limit increased to 2 lakhs

Posted by binu P Friday, March 16, 2012


Highlights of the union budget for the  F.Y 2012-13

 

  1. New laws for micro finance markets
  2. 2.5 % growth in agriculture this year
  3. Indian economy to grow at 6.9% this year
  4. 5000 crores venture for MSME sector
  5. investment upto 50,000 in
  6. Direct Tax code will be enacted at the earliest
  7. 6000 schools to be setup in5 years
  8. National mission for food processing to be started
  9. Direct import of ATF allowed
  10. 8,800 Km national highways to be developed
  11. Direct cash subsidy for LPG, Kerosene
  12. IT exemption limit increased to 2 lakhs
  13. To introduce Rajiv Gandhi equity scheme.
  14. PDS to be computerised.

Union budget 2012-13 new it limit

New Income Tax Slab for the F.Y 2012-13

 

Income tax exemption limit increased to 2 lakhs !!

 

  1. 0% tax for income upto 2 lakhs
  2. 10% tax for 2 to 5 lakhs
  3. 20% tax for 5 to 10 lakhs
  4. 30% tax for income above 20 lakhs

 

 

 

Benefits for Central Government Employees in Union Budget 2012-13





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2 Responses to Union Budget 2012 Highlights – IT limit increased to 2 lakhs

  1. COL LAMBA Says:
  2. PRANAB DADA HOW YOU CAN BE CRUEL TO SENIOR CITIZEN?
    YOU HAVE RAISED EXEMPTION LIMIT FROM 180000TO 200000
    UNDER 60 YEARS MALE GOT BENEFIT OF RS 2000/ & FEMALE RS 1000/.THE SENIOR CITIZEN SLAB STATIC AT 250000 & NO BENEFIT BUT LOADED WITH TAX BURDEN. KINDLY DO NOT SNATCH LIFE FROM THEM & RAISE TAX SLAB TO 3,00,000/ FOR SENIOR CITIZEN & FOR OTHERS 2,50,000/ GOD BLESS YOU

     
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