best-short compilation of budget-2010by sudhir sir

BUDGET -2010

HIGHLITES

-CA SUDHIR HALAKHANDI-

1. NEW INDIVIDUAL TAX RATES

2. MAT HAS BEEN INCREASED TO 18 % (FROM 15%).
3. SURCHARGE WHEREVER APPICABLE REDUCED TO 7.5% FROM 10%.
4. TAX AUDIT LIMIT ENHANCED TO RS. 60 LAKHS FOR BUSINESS AND 15 LAKHS FOR PROFESSION.    
5. ADDITIONAL DEDUCTION OF RS. 20000.00 WITH RESPECT TO INFRASTRUCTURE BONDS- IN ADITTION TO RS, 1 LAKH.
6. NEW VERSION OF SARAL- RETURN FORM FOR INDIVIDUAL.
7. EXCISE RATES INCREASED TO 10%.
8. SERVICE TAX RATE UNCHANGED- 10%.
9. TRANSPORTATION OF PULSES EXEMPTED UNDER GTA SERVICE – EXISTING EXEMPTONS FRUIT, VEGETABLE, MILK AND EGGS.

-         AS COMPLIED FROM THE BUDGET SPEECH OF FINANCE MINISTER-