Indian Budget 2013-14 Highlights
Fund minister P Chidambaram about 28th February, 2013 shown the Of india Budget which is one of the most highly anticipated Costs of modern times. Some highlights for Indian Budget 2013-14 and Tax Slabs are as:
Of india Budget 2013-14 Highlights:
1 . As relating to American indian Budget 2013-14, The Tax slabs and Rates not revised.
2 . Tax payers have nonetheless relief in the first mount of 2 lakh to 5 lakh. A notional rise in the threshold exemption from two, 00, 000 to a couple of, 20, 500 by providing a tax credit rating of 2, 1000 to every person who has a total income upto 5 lakh.
3. Surcharge of 10 % on folks whose taxable income is higher than 1 crore per year. This will likely apply to people, HUFs, firms and organizations with related tax position. 4. Surcharges ahs increased on domestic companies from 5 percent to 10 percent in whose taxable income exceeds twelve crore annually.
5. The surcharge as well increased coming from 2 percent to 5 percent on the international companies in whose taxable income exceeds 10 crore per year.
6. In all of the other cases, such as gross distribution taxes or duty on sent out income, surcharge increased by 5 percent to 10 percent.
7. The additional surcharges will be in force for merely one year that is Financial Season 2013-14.
8. Rajiv Gandhi Equity Saving Scheme membership limit elevated from Rs. 10 lacs to Rs. 12 lacs. Indirect Taxation:
1 . Zero change in the height rate of basic persuits duty of 10 percent for nonagricultural goods. No change in the normal rate of excise duty of 12 percent and the usual rate of service duty of 12 percent. 2 . Reduction in responsibility on particular machinery pertaining to manufacture of leather and leather merchandise, including shoes or boots, from six. 5 percent to five percent. 3. Reduction in obligation on pre-forms of precious and semi-precious stones coming from 10 percent to 2 percent. 4. Export duty in de-oiled rice bran olive oil cake taken.
5. Work of 10 % on foreign trade of natural...