Union Budget 2012-13 Lead-2

Budget key words

• Zero tax up to Rs. 2-Lakh
• 10% income tax betwen Rs.2 lakh to 5 lakh
• 20% Tax for income between Rs.5 Lakh to 10 Lakh
• 30% tax for income above 10 Lakh
• 2% hike in service tax, reacherd to 12%
• No Advance Tax requred for senior citizens
• All services to be taxed
• 20% reduction on buying and selling shares from stock market
• Excise duty hike to 12%
• Excise duty on big cars incresed to 24% from 22%
• Telephone, mobile, water and electricity bills to be more expensive due to hike in serive tax
• Excise duty reduced on readymade garments
• Medicines for curing HIV, Cancer to be cheaper
• Luxury items, eating points, electronic gadgets to be more expensive