IMPACT ON BUDGET 2013-14

BUDGET 2013-14

The Budget left tax slabs and tax rates unchanged but proposes a Rs

2,000 tax credit to those whose taxable income is up to Rs 5 lakh.

The credit, given to those in the lowest tax bracket, increases their tax

exemption limit from Rs 2 lakh to Rs 2.2 lakh.

INCOME TAX

The Budget has also not changed the tax rates for senior citizens (60-

80 years) and very senior citizens (80 years and above).

So, all men, women and senior citizens with taxable income of less

than Rs 5 lakh will save Rs 2,000 in 2013-14.

The 3 per cent education cess on the total tax liability continues.

CONTINUES

The government has announced a 10 per cent tax surcharge on those

with taxable income of more than Rs 1 crore.

So a person with taxable income of Rs 1.1 crore will now have to pay

Rs 35,46,290 as tax as against Rs 32,23,900 earlier.

TAX ON SUPER RICH

THE ECONOMY AND THE CHALLENGES

Growth rate of 8%.

Slowdown economic growth rate from 3.9% to

3.2% in 2012.

High growth can be achieved through cooperation

27,049 crore allocated to Ministry of Agriculture,

an increase of 22 per cent

over the RE of current year.

AGRICULTURE

Health for all and education to all remains priority.

37,330 crore allocated to the Ministry of Health & Family Welfare.

New National Health Mission will get an allocation of ` 21,239 crore

4,727 crore for medical education, training and research.

HEALTH AND EDUCATION

THANK YOU