Surcharge of 10% on personal income tax removed
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Highlights of Budget 2009
Need finance bill highlights
Minimum alternate tax increased to 15% from 10% of book profit
Sens*x down by 700 pts
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
| Originally posted by :CA Nikita | ||
| " | Fund alloction for urban poor accommodation is 3,973,000 cr JNNURM allocation hiked by 87 per cent NHAI allocation up by 23 per cent Hike infrastructure investment to over 9% of GDP by 2014 IIFCL will refinance 60% of commercial bank loans in PPP IIFCL will look at new projects IIFCL will also look at incremental lending by banks New company IIFCL to look at infrastructure needs Two worst quarters since September slowdown behind us Signs of revival in the domestic industry /budget09 |
" |
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.
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