Tax Exemption Limit increased, surcharge removed - F/y 09-10



Tax Exemption Limit increased, surcharge removed for F/y 2009-10. The amendments have been made in the Income Tax Act by the Finance Bill, 2009 with a view to as stated in the Memorandum : (i)Lowering the burden on the individual taxpayers by increasing the basic exemption limit available to the taxpayers. (ii) Introducing simplified presumptive tax scheme for small businesses. (iii) Encouraging the growth of foreign investment in India by providing for a speedy dispute resolution mec
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Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

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