March 17, 2012

Budget 2012-13 Impact on Salaried Employees


1.Raises exemption limit to Rs 2 lakhs from Rs 1.8 lakhs.
2.Income Tax at 10% for Rs 2-5 lakh.
3.Income Tax at 20% for Rs 5 lakh to Rs 10 lakh.
4.Income Tax at 30% for income of over Rs 10 lakh.
5.Health insurance deduction upto Rs 5000 for 8.To implement DTC at the earliest.
6.Interest income from banks tax-free upto Rs 10,000.
7.Direct cash subsidy for LPG.
 of 50 per cent on investments of up to Rs 50,000 in savings scheme namedont-family: Georgia,'Times New Roman',Times,serif; font-size: 12px; line-height: 18px; margin-bottom: 0.7em; margin-top: 0.7em; padding: 0px; text-align: justify;"> 9.GST to be operational by August 2012.
10.Income Tax deduction of 50 per cent on investments of up to Rs 50,000 in savings scheme named after Rajiv Gandhi.
11.Addressing malnutrition, black money and corruption in public life among five priorities in the year.

source:tkbsen.com

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