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Tax proposals for 2013-14, India budget 2013

No change in income tax slabs

Tax Administration Reforms Commission to be setup

Tax credit of Rs.2,000 for income up to Rs.5,00,000

10% surcharge on income above Rs.1 crore

Additional surcharge on taxes for 1 year

Education cess to continue at 3%

Donations to National Children's Fund will be eligible for 100% tax deduction

TDS of 1% on land deals above Rs.50 lakhs with the exclusion of agricultural land

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