- Expect 10 lakh nos to be generated per day from 1st Oct 2011 under UID
Share Budget Updates
Page no : 4
shashank
(ss)
(303 Points)
Replied 28 February 2011
- Expect to cross 9.32 lakh crore as direct tax collection for FY 12
- Sulabh Form to be introduced for small taxpayers
- Gross tax reciepts expected to be higher by 24.9% YoY
Aisha
(Finance Professional)
(8099 Points)
Replied 28 February 2011
Basic Exemption limit increased to 1.8 lac from 1.6 lac #budget
Rajiv
(student)
(2324 Points)
Replied 28 February 2011
- Gross tax reciepts expected to be higher by 24.9% YoY
- Fiscal deficit to come down to 5.1% from 5.5%
- Basic Exemption limit increased to 1.8 lac from 1.6 lac
shashank
(ss)
(303 Points)
Replied 28 February 2011
- Total Non Tax revenue income Rs 125,435cr for FY11
- Total tax revenues Rs 664,457cr for FY11
Aisha
(Finance Professional)
(8099 Points)
Replied 28 February 2011
senior citizens (above 60 years now): exemption Rs 250K, for people above 80 years, Rs 5 lakh.
Aisha
(Finance Professional)
(8099 Points)
Replied 28 February 2011
Surcharge on companies 5% (from 7.5%). MAT at 18.5% of book profits.
senior citizens (above 60 years now): exemption Rs 250K, for people above 80 years, Rs 5 lakh.
dhaval
(executive)
(3494 Points)
Replied 28 February 2011
- :Propose to reduce surcharge on corporate tax to 5%: FM
- MAT rate raised from 18% to 18.5%:
- New category for 80 yrs and above, limit is Rs 5 lakh
CA Abhash Mishra
(Chartered Accountants)
(598 Points)
Replied 28 February 2011
NO CHANGE IN SERVICE TAX
Sonakshi
(executive)
(3068 Points)
Replied 28 February 2011
- Propose to levy MAT on developers of SEZs
- Exemption limit for general tax payers raised to Rs 1,80,000\
- Qualifying age for senior citizens reduced to 60 vs 65
CA Abhash Mishra
(Chartered Accountants)
(598 Points)
Replied 28 February 2011
No excise duty on food, basic products
Aisha
(Finance Professional)
(8099 Points)
Replied 28 February 2011
15% tax on dividend for indian cos from foreign unit
Will maintain excise duty at 10% #budget
dhaval
(executive)
(3494 Points)
Replied 28 February 2011
- No change in service tax at 10%
- 15% tax on dividend for indian cos from foreign unit
- Will maintain excise duty at 10%
Sonakshi
(executive)
(3068 Points)
Replied 28 February 2011
- 1% excise duty on 130 new items
- Reduce customs duty on micro irrigation equipment:
- Foreign dividend tax rate cut to 15% for Indian cos
sunil
(g m)
(2308 Points)
Replied 28 February 2011
- No change in CENVAT rate
- 10% excise duty on branded garments
- Base rate on excise duty raised to 5%
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