Budget 2013 Live Highlights: Finance Minister P. Chidambaram says no review of income tax slabs, focus on infrastructure
to participate in exchange traded currency derivatives
* National Housing Bank (NHB) to set up urban housing bank fund and Rs 2,000 crore will be allocated in this regard, says FM.
* Securities Transaction Tax (STT) reduced on equity future, mutual fund.
* Education cess to continue at 3 per cent Investor Protection Fund set up by depositories will be exempt from tax
* Contributions made to central and state government health scheme eligible to tax benefit.
* Non plan expenditure pegged at Rs 11,09,975 crore for 2013-14.
* Plan expenditure pegged at Rs 555,322 crore
* Eligibility conditions for life insurance policies of persons suffering disabilities to be liberalised
* Transactions on immovable properties usually undervalued.
* TDS of one per cent on value of properties above Rs 50 lakh. Agriculture land exempted
* Fiscal deficit will be 5.2 per cent in current year and 4.8 per cent in the next fiscal.
* Will redeem our pledge to reduce fiscal deficit to 3 per cent by 2016-17 and revenue deficit to 1.5 per cent of GDP
* Tax Administration Reform Commission to be set up to regularly review tax law applications
* In 2011-12, tax-GDP ratio was 5.5 per cent for direct taxes and 4.6 per cent for indirect taxes.
* Tax credit of Rs 2000 to be provided to every person to having income of up to Rs 5 lakh, this will benefit 1.8 crore people
* 5 to 10 per cent surcharge on domestic companies whose taxable income exceeds Rs 10 crore
* All Regional Rural Banks and cooperative banks to
