Highlights of Budget 2009

Surcharge of 10% on personal income tax removed

Need finance bill highlights

Minimum alternate tax increased to 15% from 10% of book profit

National pension scheme exempt from STT

Political funding to get 100 per cent tax deductions.

ustoms Duty to be reduced on drugs for heart treatment

5% customs duty on set top boxes

 senior citizen is 240000

10 per cent surcharge on personal income tax removed

hi friends,

FM states some points on taxation of transfer pricing ,

can someone clarify that.

THANKS FOR THE IMFORMATION

The Finance Act, 2008 introduced the Commodity Transaction Tax (CTT) to be levied on taxable commodities transactions entered in a recognized association. The Prime Minister's Economic Advisory Council has recommended abolition of the CTT.  I, therefore, propose to abolish the Commodity Transaction Tax.

Nikita

service tax has not been removed on services by Ca And Cs but it has been imposed on services of legal consultants, transport of goods by rail,services in relation to transport of coastal goods goods through inland waterways,cosmetic and plastic surgery service.