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