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• Cigarettes to be expensive
• Fertilisers to be costlier after the reduction in subsidy
• High fuel prices added to inflation: Pranab
• Pranab Mukherjee said the govt would initiate action to bridge the gap between wholesale and retail prices.
• Govt promises to tackle food inflation in budget
• Calls for fiscal discipline have gained urgency as inflation is forecast by some economists to reach 10 percent in coming weeks as high food prices fuel broader inflation expectations.

can you give  the details of the indivual tax as declared in the budget.

What are the additinal deductions provided.

Regards

umesh kapoor

30% tax on income above Rs 8 lacs

20% tax on income between Rs5 lacs to 8 lacs

10% tax on income between Rs1.6 lacs to 5 lacs

R U SURE??????????????????????????????????????????????///

excise duty increased in many products

1. Excise duty on petrol and diesel raised to Rs 1/litre
2. Cigarettes to be costlier
3. Excise on large cars,SUVs, MUV raised to 22%
4. Partial rollback in Excise Duty from 10% to 8%
5. Excise on large cars,SUVs, MUV raised to 22%

Yes Dhiraj is right...Its sure

Excise on all non smoking tobacco raised

7.5% duty on petrol and diesel restored

5% duty on crude petroleum restored

Fuel prices likely to go up

Audit limit increased from 40 to 60 lac

for professional increased to 15 lac from 10 lac

UPTO 160000

NIL

160000 TO 500000

10%

500000 TO 800000

20%

ABOVE 800000

30%

NOW

EARLIER

CORPORATE TAX SURCHARGE 

7.50%

10%

CORPORATE MAT

18%

15%

STANDARD EXCISE RATE

10%

8%

EXCISE ON PETROL

Re 1/LT

LARGE CARS , SUVs EXCISE

22%

20%

No capital gains tax on conversion of a business entity into Limited Liability Partnership

Businesses up to Rs 60 lakh and professionals up to Rs 15 lakh to be exempted from auditing obligations

Over and above Rs 1 lakh deduction on tax savings, an additional deduction of 20% for investment in long-term infrastructure bonds would be allowed, Pranab Mukheree said.

R&D deduction 150% increased to 200%

Govt extends interest subsidy for exporters for 1 more yr
The government proposed to extend the concessional export finance regime for select exporters for one more year till March 31, 2011, thus giving the slowdown-hit sector further relief.