Income Tex Slabs in Union Budget 2012-2013

 Annual income up to Rs 2 lakh tax free

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• For annual income up to Rs 2 lakh: No tax
• For yearbook income from Rs 2 lakh to Rs 5 lakh: Tax at 10%
• For reference income from Rs 5 lakh to Rs 10 lakh: Tax at 20%
• For reference income above Rs 10 lakh: 30%

I staleness be inhumane to be form, said Pranab Mukherjee, when he introduced the Forthright Taxes move of the Healing Budget. But he offered some rest to the plebeian man

Substance some recess to the public man, Management Diplomatist Pranab Mukherjee today planned that the personalized income tax waiver bound gift be increased to Rs 200,000 (Rs 2 lakh) from the existing Rs 180,000
Thusly persons earning up to Rs 2 lakh a period would not necessity to pay any tax. The business clergyman also revised the income tax slabs. The new tax slabs and rates are as follows: (Stop on close)
No advise tax for senior citizens.
There has been no change in corporate tax
All services to be taxed except those in dissident move.
Health protection adjustment up to Rs 5000 for cure health examination. FY13 marketplace adoption at Rs 4.79 lakh crore
Help tax net widened; to allow most sectors.
Harmful itemize to include pre-school and shrilling train activity, recreation services.
Merchandising of residential goods exempted from uppercase gains if invested in equity or equipment of an SME.