« Budget Extravaganza » Open DEMAT Account in 24 hrs  All outstanding personal tax demand notices up to Rs 25,000 withdrawn till FY 2014-15 in Budget 2024  Budget 2024: Why there is an urgent need to hike Section 80C deduction ceiling for income tax benefits  Budget 2024: Long term capital gains tax and the holding period for different assets explained  No increase likely in income tax rebate in interim budget: FinMin official  Income tax expectations for Budget 2024: Focus on medical insurance and capital gains tax  Whole world looking at India s budget with hope  Pre-budget expectations for salaried individuals on tax relief Budget 2023  Centre expected to introduce new income tax slabs in Budget 2023: Report  Budget 2023: Pre-budget expectations for salaried individuals on tax relief   Will non-extension of tax benefits for affordable housing impact sales Budget 2022  Budget 2022 allows 2 more years to file ITR; Know the whopping cost of delay in filing «  Budget to focus on fiscal consolidation: Montek... Budget must indicate corrective steps underway: Montek... » Bonanza for salaried class in Budget 2012-13? January, 31st 2012 Union Budget 2012-13 may bring cheer to the salaried class as the Centre is said to be mulling a restructuring of the income tax slab.   According to reports, Monday, Union Finance minister Pranab Mukherjee may announce a rejig in income tax slabs and also increase the income tax exemption limit from the existing Rs 1.8 lakh to at least Rs 2 lakh.   A newspaper report said that the new tax slabs could be in line with the Direct Taxes Code Bill, which was introduced in Parliament in 2010. The proposed bill says that incomes between Rs 2-5 lakh be taxed 10 percent, Rs 5-10 lakh be taxed 20 percent and incomes above Rs 10 lakh per annum to be taxed 30 percent.   The present tax structure is that incomes between Rs 1.8 lakh and Rs 5 lakh are taxed 10 percent, those between Rs 5-8 lakh taxed 20 percent while 30 percent tax is slapped on incomes above Rs 8 lakh.   Clearly, the government appears in mood to provide succor to the aam admi as the proposed tax restructuring will lead to an increase in disposable incomes, consumption spending and savings.