« Budget Extravaganza » Open DEMAT Account in 24 hrs  ITR 2024-25: Are the latest Budget 2025 tax slabs applicable for tax filing in AY 2025-06? Details here  Time ripe for streamlining withholding tax in the budget  35 LPA AGM/ DGM Banking & Treasury (MBA/ CA)  Budget 2025 Wishlist: Individual taxpayers want tax relief, deductions, slab relaxation on February 1  Budget 2025: Why tax relief for debt funds tops wish list of mutual fund industry  FinMin unlikely to introduce new Income-Tax Bill in Budget session  Income tax relief in Budget 2025? Govt mulling relief for lower income tax bracket  Income Tax Act overhaul likely in Budget  Will FM Nirmala Sitharaman Change Tax Rates in Budget 2024?  Budget to usher in minimum corporate tax rule under Pillar-2  All outstanding personal tax demand notices up to Rs 25,000 withdrawn till FY 2014-15 in Budget 2024 «  Budget to focus on fiscal consolidation: Montek...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.