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UNION BUDGET HIGHLIGHTS 10-11 - MUST WATCH

Page no : 10

CHIRAG SAWANT (STUDENT - CA FINAL) (83 Points)
Replied 27 February 2010

Hope-less was the Budget. It is VOTE BANK Oriented. This Time they Collected Individual Votes by giving relief (So Called) to Farmers and individual Tax Payer and Next Year with the Implementation of DIRECT TAXES CODE, They will collect CORPORATES VOTES. A Smart Plan to decieve common man from Reality.

In fact, Govt. of India is Lacking Basic Concepts of Finance and it's Management And Control. The common man too. That's why they fail to present an effective Budget in these times of world over recession, where the flow of money cycle is very slow and not flowing as expected.

With the Decrease in Value of Money due to increase in daily prices, change in structure of Slab Rates gives -Ve Effect. Had these changes been made 5 Years before i.e. in the Budget of 2005, then I would have definitely Appriciated the Budget.

    Infact, i am having A Financial Improvement Module, whereby Atleast Rs.10,00,000,00,00,000 Revenue will reach Govt. of India's Treasury DIRECTLY Without Any BLOCKAGES, in the Very 1st Year of it's implementation, condition is it is implemented without making any changes into it. I have even written about it to The President of India and Ministry of HRD, Long Back.  But this Govt. Na........Hopeless......

Join My Community for more details and updates and process of improvement of Financial System of India by Clicking given below LINK : /community/root-level-change-s-in-virus-by-mr-chirag-sawant-2104.asp

1 Like

Anjana Chugh (Chartered Accountant) (73 Points)
Replied 27 February 2010

yes Aisha is perfectly fine in sayin abt d tax slab.

Rest is MAT incresed to 18%.

Surcharge for domestic Co reduced to 7.5%.


Amit Tiwary (SERVICE) (39 Points)
Replied 27 February 2010

Excise Duty increases on non petro product from 8% to 10%.

Rate of MAT increases from 15% to 18%.

Surcharge for companies reduced from 10% to 7.5%

BY THE OVERALL STUDY OF BUDGET PAPER IT CAN BE SEEN THAT PRANAB BABU HAS ACTUALLY LAID DOWN  THE PATH FOR FISCAL CONSOLIDATION AND GROTH.


Life is a Race.....CA FINAL (STUDENT) (78 Points)
Replied 27 February 2010

What are the benefit to IT industries from the Budget?

Is it good or worse for that sector?


ARCHNA (Student) (160 Points)
Replied 27 February 2010

1)   New slab

Income                         Normal                                Women                            Senior citizen

   NIL                        upto 160000                       upto 190000                      upto  240000                                               

 10%                   160000-500000                   190000-500000                240000-500000 

 20%                  500000-800000                    500000-800000                500000-800000

30%                More than 800000                 More than 800000              More than 800000

2)  Tax Audit Limit = More than 60 Lakhs

3)  Deduction of 80 C = 120000

4)  Excise duty = 10%

5)  Corporate Surcharge = 7.5 %



Mukund Patel (Student) (477 Points)
Replied 28 February 2010

Budget is really sable........


Amit Nishania (CA Final - Student) (495 Points)
Replied 28 February 2010

@  vidyasagar its proposed not implemented.


Amit Nishania (CA Final - Student) (495 Points)
Replied 28 February 2010

 

@ Dhiraj yes Aisha is right about tax slab


Amit Nishania (CA Final - Student) (495 Points)
Replied 28 February 2010

@ Mukund do u really think that the budget is stable cz i think the increase in price will be equal for each category of income group of people but the tax slab for people under 3 lacs is same so no savings for them.


loveseema (Partner, CA) (104 Points)
Replied 28 February 2010

surcharge reduced from 10% to 7.5%



CA Priyank (Priyank Sanghavi & Co) (296 Points)
Replied 01 March 2010

Friends!!!!!!!

Find amendments in union budget 2010-2011 related to income tax


Attached File : 11 budget amendments for income tax.doc downloaded: 125 times
1 Like

Hemani (Student) (123 Points)
Replied 02 March 2010

1. Central Excise rate increased to 10%, in a partial rollback of the stimulus package.

 2.  Scope of Section 9 expanded to include even the services completely rendered outside India, w.r.e.f. June 1, 1976

 3. Rate of MAT increased from 15% to 18% on book profits – effective rate will be 19.93%

4.  Surcharge on domestic companies reduced from 10% to 7.5%.


CA Zeal Karwa (Manager- Project Finance)   (160 Points)
Replied 07 March 2010

what is minimum alternate tax???



(Guest)

When is 2012 Budget




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