Metered taxis, entry to amusement facilities, second-class rail travel, and betting, gambling and lottery will not attract the 12% service tax, as per the budget proposal.
The other side of budget 
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Highlights |
Reforms
For an economy still slowing down and unlikely to see brisk hiring or steep payhikes, finance minister Pranab Mukherjee has given salaried bread-winners a reason to cheer. HT reports. Graphics | Personal taxes
If you are buying bullion or jewellery worth
Rs. 2 lakh or more, or sold property or land, beware: the taxman is watching you.
Men finally catch up with women. Finance minister Pranab Mukherjee on Friday hiked the annual income tax exemption limit by Rs. 20,000—but only for men.
Highlights of the budget for 2012-13 presented by finance minister Pranab Mukherjee in the Lok Sabha on Friday.
The main objective of any tax system is to raise revenues to fund government expenditure. The amount of revenue raised is determined to a large extent by tax bases and tax rates.
Is there a need for a separate railway budget? Even as railway minister Dinesh Trivedi presented his first rail budget on Wednesday, this is the question most experts have been asking, HT writes.
Finance minister Pranab Mukherjee may have some good news for home-loan borrowers in the 2012-13 budget. The government is considering a proposal to double the tax deduction limit on interest on home loans to
Rs. 3 lakh per annum.
HT reports.
Welcome measure