Mar. 23 – Ordinary Indian citizens have a lot of hope for the Budget 2012-13 in terms of more income tax freedom, more income tax deductions, and the documents potential to rein in inflation. Even while the average citizen is also interested in growth and industrial development, that last point, inflation, will definitely be of chief concern.
The Union Budget has increased the tax exemption limit to Rs. 20,000 for general category males giving tax relief of Rs. 2,000 and Rs. 10,000 for females giving Rs. 1,000 for individuals with incomes up to Rs. 8 lakh.