Union Budget to be presented on 16th March 2012

Union Budget to be presented on 16th March 2012

The budget session of the Indian Parliament will begin on 12th March 2012 and the Union Budget for 2012-13 will be presented on 16th March, 2012.

According to the Parliamentary Affairs Minister Pawan Kumar Bansal, the Railway Budget would be presented on 14th March and the Union Budget on 16th March, 2012.

The tax payers, including the Central Government employees may get some relief in the coming budget session.

The Finance Ministry is likely to increase the exemption limit to Rs.2 lakh from the existing limit of Rs.1.8 Lakh, but the some experts suggested that the basic exemption limit should be hiked from Rs.1.8 lakh to Rs.2.5 lakh for individuals.

More news about ‘Income Tax’

No Income Tax filing of returns’ scheme for salaried class employees
Individuals having income not exceeding Rs. 5 lakhs from salary or pension - not required to file IT Returns
Post Office Savings Accounts to be taxed from current fiscal

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