ChartAcc

Angel tax, as per Budget 2012,
@ 30%,
on Angel Investments,
under "Income from other sources",
w.e.f. 01 April 2013.

It is applied to curb Black Money being pumped into economy.

Will it prove burden on young entrepreneurs?
If Yes then How?

BUT
Before this, a complete understanding of it is required like:

What are Angel Investors?
What Investments are to be taxed?

Wait for next post with details, on supra, bit by bit...

Next post >> Angel Investor, who is?

Direct Taxes proposals:

• Limits:
• Exemption limit for individual taxpayers to be enhanced from Rs 1,80k to Rs 2,00k;
• Upper limit of 20% tax slab proposed to be raised from Rs 8,00k to Rs 10,00k.
• Deduction: 
• A deduction of upto Rs 10k to individual tax payers for interest from savings bank accounts.
• Advance Tax:
• Senior citizens not having income from business proposed to be exempted from payment of advance tax.

Indirect Taxes:

• Standard rate of excise duty to be raised from 10% to 12%, merit rate from 5% to 6% and the lower merit rate from 1% to 2% with few exemptions;
• Excise duty on large cars also proposed to be enhanced.