TDS F.Y 2009- 10

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Due Dates for IT

Return of Income Tax [with/without FBTReturn]: Person not required to be audited - 31st July Person required to be audited - 30th September Payment of Advance Taxes of Income Tax - Individual/Firms:...

Implications of Budget 2009 TDS and TCS Rates F.Y 2009-10

TDS Rates For payment to residents and domestic companies,there will be no surcharge and cess on the basic rate of TDS. This simplifies TDS rates to a great extent. There are changes in TDS rates for payments to contractors and payment of rent. Those are explained below....

Implications of Budget 2009 in Excise Duty

Excise Duty No Change in the mean Cenvat rate of 8% ad valorem.However the concessional excise duty rate of 4% has been increased to 8% with certain exceptions. Modification Basic duty on branded Petrol converted from "6%+Rs.5 per litre" to a specific rate of Rs.6.50 per litre. Now total duty on branded petrol will be Rs.14.50 per litre. Basic duty on branded High Speed Diesel converted from "6%+Rs.1.25...

Implications of Budget 2009 Business Income

Tax Liability in respect of MAT has been increased from 10% to 15% of book profit. Further It shall be increased by surcharge of 10% of tax in case Total Income under provisions of MAT exceeds Rs. 1.00 crore. Tax Total Income under MAT Upto Rs. 1.00 crore Total Income under MAT...

Implications of Budget 2009 on personal Tax

Tax Rates: Income Tax Slabs for Individuals: Personal Income tax rates slabs is proposed to be changed. The basic exemption is proposed to be increased to Rs. 1,60,000. Therefore the minimum tax saving for every individual would be Rs. 1,030. For the Income Earners, above 10 lacs,...

BUDGET 2009 - 2010

India Union Budget 2009-2010HightlightsExemption limit Changed For Senior Citizens - Now Rs 240,000 For Women - Now Rs.190,000 For Others - Rs 160,000 Finance minister Pranab Mukherjee begins presentation of Union Budget 2009-10 in Lok Sabha. Some of the major excerpts of the budget speech are: Excise duty on fibre...