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Important Outcome from Union Budget 2012 - 2013 – LIS Professional

Important Outcome from Union Budget 2012 - 2013 – LIS Professional

     

  • 7 medical colleges to be upgraded to All India Institutes.
  • Propose credit guarantee fund for education loans.
  • Propose to set up 6,000 schools in 12th five year plan
  • Exemption up to Rs 2 lakh for individuals
  • Service tax rates hiked from 10 per cent to 12 per cent.

 

The new tax rates:

  • From Rs 2 lakh to Rs 5 lakh at 10%,
  • Rs 5 lakh to Rs 10 lakh at 20%,
  • And beyond Rs 10 lakh at 30%.

Source | Union Budget | 2012 – 2013

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