Friday, March 16, 2012

Budget 2012

Budget - 2012
  • I-T exemption limit for general category raised to Rs 2 lakh from Rs 1.8 lakh
  • - up-to 2 lacs NIL,
    - 2-5 lacs 10%,
    - 5-10 lacs 20%
    - 10 lacs plus 30%
  • Service Tax raised from 10 to 12%
  • STT is down to 0.1% on delivery
  • Interest from savings bank account up to Rs 10,000 not to be taxed 
  • Excise duty for large cars raised from 22% to 24%
  • Standard excise duty hiked to 12%
  • Corporate tax rate structure left untouched