Mega Offer Avail 65% Off in CA IPCC and 50% Off in all CA CS CMA subjects.Coupon- IPCEXAM65 & EXAM50. Call: 088803-20003

CA Final Online Classes
CA Classes

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Union Budget Highlights

CA SUDHIR HALAKHANDI 
on 01 March 2011

LinkedIn


Budget Highlights

  • Direct taxes code will be effective from 01-04-2012
  • States will be encouraged to agree on gst
  • Individual tax limit raised to 1.80 lakhs
  • No change in tax rates
  • Mat raised to 18.5% from 18%
  • Senior citizen age reduced to 60 years- exemption 2.50 laks
  • New category of very senior citizen- 80 years or more- exemption rs. 5 lakhs
  • Surcharge on domestic companies reduced to 5% from 7.5%
  • Exemptions under 80c- additional 20000.00 in infra bond will continue for one more year.
  • Central excise rate maintained at 10%
  • No change in service tax rate
  • Service tax law will be rationalised
  • New services introduced- hotel accomodation having 1000.00 or more room per day, restauraent service liquer, life insurance companies services in investment, legal serivces in arbitration etc.
  • Rs.52057 crores are allocated for education sector
  • New series of coins having new re. Symbol will be released
  • 500 crores will be infused in rural banking
  • Service tax refund process will be simplified
  • 2 more cpc in pune and manesar
  • New companies bill to be introduced in the current session
  • Allocation for farm development hiked to 7860 cr.
  • The momentum of disinvestment will be maintained
  • Interest subvention for home loan hiked to 25 lacs
  • Fii investment limit in infra corp bond raised to $25 bn
  • Govt. Will provide direct subsidy to people living below poverty line
  • 15 more mega food parks will be setup
  • Loan to minorities:- target 15% of total loan to priority sector
  • Health allocation up by 20%

CA Sudhir Halakhandi




Category Others
Other Articles by -
CA SUDHIR HALAKHANDI 

Report Abuse

LinkedIn



Comments


update