Budget - Key Points

[Kaushik]

 

 

• Exemption limit in personal income tax raised by Rs.10,000 from Rs.1.50 lakh to Rs.1.60 lakh for all other categories of individual taxpayers.
• Total budget expenditure for 2009-10 will Rs 10,28,032 cr
• Share of direct taxes has increased to 56 per cent in 2008-09
• GST to come into effect from April 01, 2010
• Corporate tax unchanged
• New tax code to be set up in 45 days
• Goods and Services Tax to be introduced from April 1, 2010
• Govt committed to tax reforms
• Anonymous funds to charitable bodies get some tax relief
• Commodities Transaction Tax to be abolished
• MAT hiked to 15% of book profit
• Fringe Benefit Tax to be scrapped
• Surcharge on personal Income tax slashed by 10%
• Hike in IT exemption for women to Rs 1,90,000
• Hike in IT exemption to Rs 2,40,000 for senior citizens
• General Sales Tax model will have a Central GST and State GST
• Branded jewellery for women to become cheaper
• Sensex crashes 600 points
• Customs duty on bio-diesel reduced
• Tax holiday extended for textile units
• Small businesses exempt from advance tax
• Custom duty on LCD panels halved
• Set-top boxes to cost more
• Anonymous funds to charitable bodies to get some tax relief
• Excise duty on fibre for cheaper cloth reduced
• Service tax to be levied on law firms
• Excise duty on petrol-driven small trucks reduced to 10%
• Exemption of duty on goods made at construction sites restored
• Drugs for heart diseases to become cheaper
• Customs duty on gold and silver import increased
• Mobile phone accessories to become cheaper

[Raju Iyer]

Dear Friends,

It is good and understandable presentation.

 

Best Wishes

 

Raju

 

[vadi...@esab.co.in]

Dear Friends

Please find attached herewith highlights of Budget for your reference.

Regards

Vadivel. A
Esab India Limited


(See attached file: budget highlights 2009-2010.pdf)



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[karthik Rangasamy]

thank u for the info

On 7/6/09, Kaushik <kous...@gmail.com> wrote: