https://www.taxtmi.com/article/detailed?id=1631 Budget revises individual tax slabs and exemptions while retaining education cesses; grants senior citizens relief from advance tax where no business income exists; inserts a deduction for savings bank interest and allows limited preventive health check deductions within existing health insurance limits. It introduces expanded investment linked and weighted deductions for specified infrastructure, agricultural and manufacturing expenditures, extends sectoral incentives and depreciation for power projects, raises turnover thresholds for SME audit and presumptive schemes, and offers capital gain exemption for reinvestment into manufacturing SMEs. en-us Fri, 16 Mar 2012 17:57:43 +0530 Sat, 17 Mar 2012 10:57:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1631 Budget revises individual tax slabs and exemptions while retaining education cesses; grants senior citizens relief from advance tax where no business income exists; inserts a deduction for savings bank interest and allows limited preventive health check deductions within existing health insurance limits. It introduces expanded investment linked and weighted deductions for specified infrastructure, agricultural and manufacturing expenditures, extends sectoral incentives and depreciation for power projects, raises turnover thresholds for SME audit and presumptive schemes, and offers capital gain exemption for reinvestment into manufacturing SMEs. Articles Income Tax Fri, 16 Mar 2012 17:57:43 +0530 https://www.taxtmi.com/article/detailed?id=1631