Tag Archives: tax exemption limit
Budget 2012: Income tax exemption increases to Rs2 lakh
Bringing “Aam Admi ka Budget”, Finance Minister Pranab Mukherjee on Friday proposed a big relief for small tax payers by raise the tax exemption limit to Rs2 lakh per annum from Rs1.80 lakh. Presenting his Budgetary report in Lok Sabha, Mukherjee said, “My proposals on direct taxes are estimated to result in a net revenue [...]
Budget 2012: Finance panel expects income up to Rs 3 lakh made tax-free
Today’s good news for taxpayers, who wants to save their money not easing to tax, is that the Parliamentary standing committee on finance in line with the DTC Bill this budget recommends hiking basic tax exemption limit from Rs 1.8 lakh to Rs 3 lakh and another Rs 3.20 lakh rebate for eligible investments and [...]
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