Expectations from the Union Budget 2010-11
Union Budget 2010-11 will be tabled by Union Finance Minister Pranab Mukherjee on February 26 in Lok Shabha.
So, it is important to look at what it could hold in various place like indirect tax, direct tax, cst, sez and various other sectors such as corporate law and many others:
A famous slogan given by Congress Party "Congress Ka Haath Aam Aadmi se Saaath" so control people are expecting much from this Budget 2010
Some expectations are :
- Salaried people are expecting that income tax limits should be higher from the current limit in union budget 2010 -11 and also relaxation in other taxes
- women are expecting that the FM goes soft on the kitchen budget.
And other are
- provisions of proposed Direct Tax Code should be withdrawn
- Extension of IT Exemption U/s 10A / 10B / 10AA of Income tax Act
- - The mutual fund (MF) industry expects the finance ministry to retain the existing tax benefits available to investors in MF schemes in the forthcoming Union budget
Corporate law
-A reduction of 30% is expected in the corporate tax. The expectation is found in line with the introduction of Direct Tax Code (DTC) suggesting a 25% rate. The individual rate was lowered by 30% previous year also.
So these r fews expection from union budget 2010-11
Wt u people expect from this
Right ur views and expections from Budget 2010-11
CAclubindia
