DISCUSS UNION BUDGET 2010,VARIOUS PLANS AND FINANCES
12 Replies
CA Pradeep Gupta
(CA)
(155 Points)
Replied 26 February 2010
CURRENTLY ONLY RURAL DEVOLOPMENT PLANS ARE ANNOUCED,WHAT ABOUT DIRECT TAXES
rangaswamy .d.r
(articleship)
(35 Points)
Replied 26 February 2010
pranab ji awarded earlier as best finance minister in the world ......in indira gandhi period
C.A. Sanjay Bhatia
(CA)
(496 Points)
Replied 26 February 2010
Union Budget 2010: Peak excise duty increased, a negative for auto, steel and cement companies,
C.A. Sanjay Bhatia
(CA)
(496 Points)
Replied 26 February 2010
No tax on income up to Rs 1.6 lakh, 10% tax on income of Rs 1.6 lakh upto Rs 5 lakh, 20% on income of Rs 5 lakh upto 8 lakh and 30% on income above Rs 8 lakh
Ramana
(Student)
(74 Points)
Replied 26 February 2010
SERVICE TAX RETAINED AT 10%
THRESHOLD LIMIT:
UPTO 1,00,000/- NIL
1,00,000/- TO 5,00,000/- 10%
5,00,000/- TO 8,00,000/- 20%
8,00,000/- AND ABOVE 30/-
Alex Sharma
(CA & ICWA Final student; CS & CFA completed)
(194 Points)
Replied 26 February 2010
Tax for Male junior citizens & Female junior citizens.............same?????
CA Deepak Joshi
(TaxTalk)
(178 Points)
Replied 26 February 2010
CA kuldeep kothari
(own practice)
(375 Points)
Replied 26 February 2010
no it was nt pranab da it was mms ji who was awarded as best finance minister of world in 1995
CA. Shiburaj K
(Chartered Accountant)
(105 Points)
Replied 26 February 2010
Dear Murthy
THRESHOLD LIMIT is :
UPTO 1,60,000/- NIL....
CA. Shiburaj K
(Chartered Accountant)
(105 Points)
Replied 26 February 2010
New Siplified Saral 2 forms for Salaried Employees,
Additional Rs.20000 as Deduction on Infrastructure Bonds u/s 80C,
MAT from 15% to 18%,
No Capital Gain Tax on conversion to LLPs,
Surcharge of Corporates reduced to 7.5% from 10%.
Interest on TDS (late payment) is now 18% (earlier 12% pa)
CA Kingsley
(Audit Manager)
(470 Points)
Replied 27 February 2010
The following are my opinion
1. I feel that Direct tax regime is begining to die. They have shifted interest from Direct tax to Indirect tax because collection in direct tax is very difficult than Indirect tax. Our Indirect tax teacher said that future of Tax practitioner lies in Indirect taxes because Indirect tax collection is all set to over take direct tax collection. This is evident 4m fact of increase in indirect tax + introduction of new taxable services and reduction in direct tax liablity for individuals.
2. It is sin to be poor. Rich becomes richer & richest, poor becomes poorer and poorest
3. 1.4.2011 is going to bring substantial challenges to CA's and going to kill CA students esp who are multiple attempt candidates because IFRS convergence, introduction of Direct tax code, introduction of Goods & service tax and mandatory application of AS 30,31 & 32 all takes place wef 1.4.2011.
Recent Topics
- Applicability of 44AD needs clarification
- ITC reversal in GST 3B
- Claim if ITC on stocks 19-2020 conversion from com
- Urgent doubt on GST
- Profit or Loss on Sale of Assets Accounting treatm
- Clarification on RCM on Rent Payment for QRMP Deal
- Reclaimed itc in gstr9
- Gamification in Accounting Software: Boosting Enga
- I want to knw Hsn code and gst rate of resin produ
- Schedule FA clarification
Related Threads
CAclubindia
