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Following are the slew of tax change announcements made by Pranab Mukherjee in Budget 2012.
> Exemption limit for direct taxes increased to Rs 2 lakh from Rs 1.8 lakh in FY13
> STT reduced from 0.125% to 0.1%
> No tax return upto Rs 5 lakh
> Tax exemption on individual share investments below Rs 10 lakh.
> Tax free infrastructure bonds doubled to Rs 60,000 crore
> Rs 50,000 tax exemption for retail investors
> No change in corporate tax rate
> Propose to hike service tax rate from 10% to 12%
> Government services, education, entertainment, public transport exempted from service tax
> Senior citizens to be exempt from advance tax payments
> Income above Rs 10 lakh to be taxed at 30%
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