Mar 16, 2012

Union Budget proposals March 2012


The finance minister slashed securities transaction tax (STT) by 20% to from 0.125% to 0.1% which will help bring down transaction cost.

Below are some of the key highlights of the budget:

  • GDP growth in 2012-13 pegged at 7.6 per cent. 
  • Disinvestment target at Rs. 30,000 crore for FY2012-13.  
  • Fiscal deficit at 5.1 per cent of GDP in FY 2012-13.
  • Income tax slab proposed for FY 2012-13

Income

Tax Rates

Up to 2 lakhs

NIL

2 lakhs- 5 lakhs

10%

5 lakhs- 10 lakhs

20%

More than 10 lakhs

30%
















Changes

    • The exemption limit has been enhanced from
      Rs. 1,80,000 to Rs. 2,00,000.
    • The upper limit of the 20 per cent tax slab has been escalated from
      Rs. 8 lakh to Rs. 10 lakh.
  • Securities transaction tax (STT) reduced 20% to 0.1% for delivery transactions in cash market.
  • The government is striving to come at a consensus on bringing FDI in multi-brand retail up to 51 per cent.
  • Rs. 15,888 crore to be infused to capitalize public sector banks and financial institutions. A financial holding company will be created to raise resources to raise capital requirements of PSU banks.
  • A central KYC depository will be created to avoid duplication of registration
  • External commercial borrowing (ECB) will be allowed to part finance rupee debt of existing power projects.
  • A proposal will be placed for a white paper on black money in the current session of parliament.
  • Net market borrowing to finance deficit is set at Rs. 4.79 lakh crore in FY 2012-13.
  • Proposal to allow deduction of up to Rs. 5,000 for preventive health check up.
  • Senior citizens not having income from business will be exempted from paying advance tax.
  • Proposal to raise service tax from 10% to 12%, with exemption of service tax to some sectors.
  • Corporate tax remains unchanged.
  • Excise duty of 1% on branded precious jewellery to be extended to include unbranded jewellery.
  • Branded Silver jewellery exempted from excise duty.
  • Proposal to increase basic customs duty on imports of gold and other precious metals.

Contact Us

Email: info@safeinvestindia.com | Phone: 0-981-826-9396 | Fill Inquiry Form Click Here

Invest Online

For Quick Navigation

54EC Bonds AA Rated AA+ BONDS AA+ FD AAA RATED Allotment Status Asset Allocation Assured Return Project Bhiwadi Real Estate Bonds BSLI Capital Gain Bonds Capital Protection Funds Commercial Property Company FD News corporate fd Corporates Debenture Debt Funds Delhi Real Estate DHFL Dwarka Expressway Economy Updates Faridabad Real Estate FD Schemes Financial Planning FIXED DEPOSIT RATES Fixed Maturity Plans FMP Fund Manager Speaks Ghaziabad Real Estate GOLD Government Saving Schemes Greater Noida Real Estate Guest Article Gurgaon Real Estate HDFC Health Insurance Health Policy home loans IIB Inflation Indexed Bonds Infrastructure Bonds Investor Guide IPO Updates Jaiprakash Fixed Deposit Latest FD Schemes Life Insurance Plans Liquid Fund Ludhiana Real Estate Mahindra Finance FD Manufacturing Companies FD Market Updates Mediclaim Policy MF ELSS MF Schemes Mutual Funds NABARD Bonds NBFC Fixed Deposits NCD NCD Issue NCD Listing New Launch NFO's Noida Extn Noida Real Estate Non Rated FD NRI Fixed Deposits NRI Investments online mutualfunds PAN Card Procedure PE Fund Plots PMS PNB Housing Post Office Schemes Private Equity Fund Private Placement PSU Bonds Public Issue Rated FD Schemes RBI Bonds Real Estate Fixed Deposits Real Estate Fund Reality Retirement Planning RGESS Secured Bonds Secured NCD Shriram Transport Deposits SIP SIP Recommendation Small Saving Sohna Real Estate STFC Deposits Tax Free Bonds Tax Saving Schemes Tax Saving Tips Union Budget 2013 Unitech Fixed Deposits Updates in FD Rates Yamuna Expressway

Post your Queries with Name, Contact Number & Scheme interested in.

Click Here - Contact Us We will give you a call back.

For Fixed Deposits

Disclaimer

The information contained and provided on this Website provides Investment advice for the education of investors. The posts are an information service only. Recommendations, opinions or suggestions are given with the understanding that readers acting on this information assume all risks involved. We do not assume any responsibility or liability resulting from the use of such information, judgment and opinions for Trading or Investment purposes.

Followers