Finance Minister Pranab Mukherjee presented the Union Budget for 2012-13 on Friday.
Following are some of the key highlights of the Union Budget 2012-13, presented by Finance Minister Pranab Mukherjee in the Parliament on Friday.
Tax burden for individuals to come down: Income tax exemption limit raised from Rs 1,80,000 to Rs 2,00,000; 10 per cent tax for 2-5 lakh income; 20 per cent for 5-10 lakh and 30 per cent beyond Rs 10 lakh; Savings bank account interest up to Rs 10,000 exempted from tax.
Budget 2012-13 WHAT GOES UP
- ACs
- Gold jewellery
- Refrigerator
- Luxury cars
- Air travel
- Telephone bills
- Sport Utility Vehicles
- Cigarettes
- Handrolled beedis
- Platinum jewellery
- Diamond jewellery
- Emerald
- Ruby
- Branded retail garments
- Eating out at restaurants
- Hotel accommodation
- Hiring a law firm
Budget 2012-13 WHAT GOES DOWN
- Cinema and films
- LCDs and LEDs
- Imported bicycles
- Housing society charges
- LPG
- Mobile phones
- School education
- Iron ore equipment
- Medicines for treating cancer and HIV Processed food
- Iodised salt
- Match boxes
- Soya products
- Solar power lamps
- LED bulbs
- Natural gas
- Uranium for generation of electricity
