Watch live commentary on above link https://in.budget.yahoo.com/2010/commentary
UNION BUDGET HIGHLIGHTS 10-11 - MUST WATCH
Page no : 2
CA Manasa
(CA)
(1479 Points)
Replied 26 February 2010
- Cigarettes to be expensive
- Fertilisers to be costlier after the reduction in subsidy
- High fuel prices added to inflation: Pranab
- Pranab Mukherjee said the govt would initiate action to bridge the gap between wholesale and retail prices.
- Govt promises to tackle food inflation in budget
- Calls for fiscal discipline have gained urgency as inflation is forecast by some economists to reach 10 percent in coming weeks as high food prices fuel broader inflation expectations.
umesh kapoor
(manager)
(37 Points)
Replied 26 February 2010
can you give the details of the indivual tax as declared in the budget.
What are the additinal deductions provided.
Regards
umesh kapoor
CA. CS. CMA. J. RAJGANESH
(Triplet Finance Professional)
(383 Points)
Replied 26 February 2010
30% tax on income above Rs 8 lacs
20% tax on income between Rs5 lacs to 8 lacs
10% tax on income between Rs1.6 lacs to 5 lacs
R U SURE??????????????????????????????????????????????///
CA Dhiraj Ramchandani
(CA, M. com)
(10823 Points)
Replied 26 February 2010
- Excise duty on petrol and diesel raised to Rs 1/litre
- Cigarettes to be costlier
- Excise on large cars,SUVs, MUV raised to 22%
- Partial rollback in Excise Duty from 10% to 8%
- Excise on large cars,SUVs, MUV raised to 22%
CA Dhiraj Ramchandani
(CA, M. com)
(10823 Points)
Replied 26 February 2010
Excise on all non smoking tobacco raised
7.5% duty on petrol and diesel restored
5% duty on crude petroleum restored
Fuel prices likely to go up
Aisha
(Finance Professional)
(8099 Points)
Replied 26 February 2010
Audit limit increased from 40 to 60 lac
for professional increased to 15 lac from 10 lac
Bharath
(CA Final , CS final)
(52 Points)
Replied 26 February 2010
UPTO 160000
NIL
160000 TO 500000
10%
500000 TO 800000
20%
ABOVE 800000
30%
NOW
EARLIER
CORPORATE TAX SURCHARGE
7.50%
10%
CORPORATE MAT
18%
15%
STANDARD EXCISE RATE
10%
8%
EXCISE ON PETROL
Re 1/LT
LARGE CARS , SUVs EXCISE
22%
20%
CA Manasa
(CA)
(1479 Points)
Replied 26 February 2010
No capital gains tax on conversion of a business entity into Limited Liability Partnership
Businesses up to Rs 60 lakh and professionals up to Rs 15 lakh to be exempted from auditing obligations
Monika Bachhawat
(Chartered Accountant)
(211 Points)
Replied 26 February 2010
Over and above Rs 1 lakh deduction on tax savings, an additional deduction of 20% for investment in long-term infrastructure bonds would be allowed, Pranab Mukheree said.
Monika Bachhawat
(Chartered Accountant)
(211 Points)
Replied 26 February 2010
Govt extends interest subsidy for exporters for 1 more yr
The government proposed to extend the concessional export finance regime for select exporters for one more year till March 31, 2011, thus giving the slowdown-hit sector further relief.
Recent Topics
- Can i declare LTCG income as business income if I
- Stock entry in new software
- I have an EMI collection shop, what is its SAC cod
- Making payment once in quarter possible under QRMP
- Master File Documentation related
- 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
Related Threads
CAclubindia
