1. No capital gains tax from sale of property if money is invested in SME

2.Compulsory declaration of assets held abroad: Pranab

3.Allocation of Rs.200 crore for research on climate change

4.National Skill Development Fund allocated Rs.1,000 crore

5.Some infra services exempt from service tax

1 .Agri credit target for FY13 at Rs 5.75 lakh cr, up Rs 1 lakh cr

2.  To introduce new law for micro finance institutions

3. School education exempt from service tax

4.Tax deduction of 200 p.c. for research extended

5.Common code for service tax, central excise

*Sun set clause on tax incentives for infra projs under 80 IA extended by 1 yr 

*All services to be taxed except those in negative list

*Negative list to include pre school and high school education, entertainment services

*Govt services, education, entertainment, public transport exempted from service tax

*Propose to exempt service tax on copyright on cinematographic films

*Common 1 page return for excise and service tax 

*Service tax raised from 10% to 12% #budget12

-Basic exemption limit for individuals increased; savings to the extent of Rs 22,000 on income on Rs 10 lakh 

-Rs 18,660 cr addl revenues expected from svc tax hike

-Excise duty raised to 12% from 10% 

1.  Some infra services exempt from service tax

2. Tax exemption of up to Rs 5,000 for health insurance for annual preventive health checkup

3.Securities Transaction Tax (STT) reduced from 0.125 per cent to 0.1 per cent

4.Excise duty hiked from 10 per cent to 12 per cent

5.To raise duty on large cars

6.Copyright relating to cinematography in film industry exempted from service tax

7.Large cars to attract upto 27 per cent duty

1.Service tax up from 10% to 12%

2.Thermal power companies exempted from customs

3.Standard excise duty rate raised from 10 per cent to 12 per cent.

4.Coal, LNG exempt from customs duty

5.airline parts exempted from basic custom duty

service tax has been increased to 12%

*No change in peak customs rate of 10%

No change in peak rate of customs duty of 10% on non-agri goods, except few exceptions

*Exemption of customs duty of 5% on equipment for fert plants

*Some infra construction services exempt from service tax

*Thermal power co exempted from customs duty for 2 yrs

*Compulsory reporting of assets sold abroad: Pranab

*20% less tax on buying and selling shares

1.Iron ore machinery parts duty cut to 2.5 per cent

2.Exempts LCD, LED panels from customs duty

3.Basic customs duty on bicycles raised to 30 per cent

4.Full exemption from basic customs duty for equipment for road and highway construction

5.Customs duty on import of parts of aircraft, tyres and testing equipment fully exempted

1.Excise duty on handmade and semi-mechanised matches reduced from 10 to 6 per cent

2.Installation of solar plants exempted from CVD

3.Excise duty on all processed food brought down to merit rate of 6 per cent

4.Pranab Mukherjee completes his Budget speech 

*12% excise duty imposed on branded retail garments

*Markets turn negative on the news of service and excise tax hike.

*20% less tax on buying and selling of shares: FM

*Excise duty on cigarettes raised

*

1.Unsatifactory budget for slaried and middle class people

2. Sec 44AB limit 1crore

General
1. GDP next year to be around 7.6%.
2. Expect inflation to be lower.
3. FM acknowledges subsidies a problem, says it will be brought down to 1.7% of GDP in future.
4. Disinvestment target in 2012-13 is 30,000 crore.
5. Efforts are on to arrive at a consensus with state governments to allow FDI in multi-brand retail                            sector.
6. Qualified investors to be allowed in infra sector.
7. DTC implementation deferred GST to be operational by August 2012.
8. New equity scheme for small investors.
9. To introduce new Rajiv Gandhi equity scheme.
10. $ 1 billion working capital package for aviation sector.
11. Govt to give contracts for 8800km national highway roads in 2012/13 against 7300km in   2011/12.
12. Direct import of fuel aviation announced.
13. Target for agriculture credit increased to Rs 5,75,000 crore.
14. New PDS to be operational by Dec 2012 with help of aadhar.
15. Interest subsidy for farmers to continue.
16. Propose to allocate Rs 10,000cr NABARD for refinancing RRB.
17. Agriculture credit target raised to Rs 5.75lakh crore in FY13.
18. Rs 5000cr for venture fund by SIDBI to aid MSMEs.
19. Allow ECB for low cost affordable housing projects.
20. FY13 mid-day meal scheme outlay at Rs 11,937 Cr.
21. Rs 14,000cr for rural drinking water and sanitation in FY13.
22.Rs 12,040cr in FY13 for backward area projects 11:56 am.
23. More money to the National Rural Health Scheme.
24. 6,000 schools proposed to be set up in 12th year plan.
25. Credit guarantee fund for education loans.
26. Kisan credit cards can be used at ATMs.
27. NRHM allocation hiked to Rs 20,820cr.
28. Women SHG can avail additional 3% subvention for prompt repayment of loans.
29. 6000 schools to be set up in the 12th year plan: FM
30. To provide interest subvention at 7% for women self-help groups.
31. National mission on food processing with state govts to be set up.
32. Allocated Rs 20,000 cr for rural infra development fund, Allocated Rs 20822 cr for rural health      
       plan during FY13.
33. Propose to lay white paper on black money in parliament .
34. Subsidy of 1% on loans up to Rs 15 lakh


Direct Taxation.
1. DTC implementation deferred GST to be operational by August 2012.
2. Gross taxes estimated at 10.65% of GDP in FY13.
3. up to 2,00,000               Nill
     200000-500000            10 %
    500000-1000000           20%
      more then 1000000     30%
4.  0.1% STT
5. Senior citizens to be exempt from advance tax payments.
6. Health insurance deduction upto Rs 5000 for preventive health checkup.
 7. Remove cascading effect of dividend distribution tax
8. Withholding tax on ECBs for some sectors cut to 5% from 20%.
9. Direct tax proposals to cause net revenue loss of Rs 4,500 cr.
10.Sun set clause on tax incentives for infra projs under 80 IA extended by 1 yr.
11. Introduction of compulsory reporting requirement of assets held abroad.
12. New sectors added to investment-linked deduction: bee-keeping, warehousing for sugar.
13. Purchase of jewellery above Rs 2 lakh now under tax net.


Indirect Taxation
1. Govt services, education, entertainment, public transport exempted from service tax.
2. Negative list to include pre school and high school education, entertainment services.
3. All services to be taxed except those in negative list.
4. Propose to exempt service tax on copyright on cinematographic films.
5.Common 1 page return for excise and service tax .  
6. Propose to hike service tax rate from 10% to 12%.
7. No change in peak rate of customs duty of 10% on non-agri goods, except few exceptions.
8. Exemption of customs duty of 5% on equipment for fert plants.
9. Thermal power co exempted from customs duty for 2 yrs
10 Import of aircraft parts exempt from basic customs duty.
11. Large cars to attract excise duty of 27%
12. Just 17 services exempt from tax net.
13. Automated shuttle looms exempted from customs duty.
14. Titanium dioxide customs duty cut to 7.5% from 10%.
13. Excise duty raised to 12% from 10%.
14. Full exemption on imported equipments for road construction projects.
15. Customs duty on std gold raised from 2% to 4%.
16. Duty reduced on energy saving lamps.
17. Excise duty on cigarettes raised. 10% Advolarom duty on some cigarettes.
18. Customs duty on non std gold raised to 10% from 5%.
19. Doubled custom duty on refined gold.
20. Duty on bicycles and bicycle parts reduced.
21. Branded silver jewellery exempt from excise duty.

An average Budget.. direct tax collection deficit is covered by increasing indirect tax rate will increase all articles mainly PETROL....for students loan credit guarantee fund have introduced.