Here are some of the Key features and highlights of Union Budget 2011-2012 of India which is at presently given by Finance Minister of India Mr. Pranab Mukherjee.
Tax exemption limit has been raised to 1.8 Lakhs Rupess from 1.6 Lakhs. Age for senior citizens qualification is reduced to 60 years. For senior citizens 2,5 Lakhs tax exemption limit.
Excise duty to be applied on 130 new items . Air flight to other countries -increased service tax. Task force will be made to deal with Black money.
service tax remained at 10%. Air conditioners to become cheaper
Computerisation of commercial tax collection is helping taxpayers everywhere
Fiscal deficit for FY12 at 4.6%, Branded clothes 10% costlier.
