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Union Budget 2013: No change in income tax rates or slabs - highlights

New Delhi Finance Minister P Chidambaram is presenting his Budget 2013 in Parliament. The following are the highlights of his keenly-watched tax proposals:

  • The current slabs were introduced last year. Hence there is no case of revising either
  • Some tax credit of Rs 2000  for every person who has an annual income of upto Rs 5 lakh
  • Tax Administration Reforms Commission to be set up to review tax laws
  • In 2007-08 Tax GDP ratio touched a peak; in short term we must regain that peak
  • The current slabs were introduced last year. Hence there is no case of revising them
  • But will give some tax relief of Rs 2000  for every person who has an annual income of up to Rs 5 lakh




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