Budget 2012: FM offers tax sops for you

Finance Minister Pranab Mukherjee has announced tax sops for the salaried class in the Budget.

The Individual tax payer exemption limit to be raised to Rs 200,000 from Rs 180,000.

Income Tax Slabs
Up to 2 lakh rupees – NIL
Rs 2– 5 lakh – 10%
Rs 5󈝶 lakh – 20%
Above Rs 10 lakh – 30%

There is no change in corporate tax rates.