Highlights of Budget 2011-12

  • February 28, 2011: I-T exemption limit raised to Rs 1.80 lakh from Rs 1.60 lakh .
  • Exemption for senior citizens raised to Rs 2.5 lakh
  • Tax under women slab unchanged.
  • Tax exemption raised to Rs 5 lakh for senior citizens of 80 years.
  • To increase service tax on air travel Excise and customs duty proposals to result in the net gain of Rs 7,300 crore.
  • Export duty rates on iron ore unified and kept at 20% ad valorem.
  • Basic customs duty on agricultural machinery reduced to 4.5% from 5% Basic customs duty on raw silk reduced from 30 to 5 per cent
  • Excise and customs duty proposals More >
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