Wednesday, February 8, 2012

Income Tax bonanza for taxpayers in 2012-13 ?

Preparation for budget is in progress. The Govt. is planning to enhance the tax slabs for the individual taxpayers.
According to a PTI report, the basic exemptiom limit is likely to be enhanced from 1.8 lac to 2 lac.
Income between 2 to 5 lac will be taxed @ 10%, 5 to 10 lac @ 20% and more than 10 lac @ 30 % for the Financial Year 2012 - 13.
The present rate for F.Y. 2011-12 is 1.8 lac to 5 lac @10%, 5 to 8 lac @20% and above 8 lac @30%.

1 comment :

batmanabane said...

Every new orders affected only the salary peoples. The enhancement is not favorable to the government servant it is only help business man. D.A is given by the government depend upon the price so it is not wages for government servants. Give exemption for D.A in the income tax calculating.

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