No tax up to 5 lakhs Sec 80C to be raised to 3 lakhs 10% TAX UP TO 15 LAKHS 15LAKHS TO 20 LAKHS 15% 20 LAKHS AND ABOVE 25% Capital gains tax to be 15% irrespective of short term or long term. Investment in sec 54 EC to be 3 crores and not 50 lakhs as chidambram did. thanks ck gundu rao