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Jul 6, 2009



New Income Tax Rate slabs for Individual, HUF, Women, Senior Citizen for A.Y. 2010-11 & F.Y. 2009-2010

Posted: 06 Jul 2009 08:20 PM PDT

Basic exemption for individual tax payers was increased by Rs 10,000 for general tax payers and women and Rs 15,000 for senior citizens (i.e. 65 years and above) by the finance minister on...

Service Tax Notification exempting services provided by a tour operator having a contract carriage permit for inter-state or intrastate transportation

Posted: 06 Jul 2009 07:50 PM PDT

Notification No.20/2009 – Service Tax           – New Delhi, the 7th July, 2009 G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32...

Highlights of the budget 2009-10 as applicable to service tax

Posted: 06 Jul 2009 07:08 PM PDT

Highlights of the budget 2009-10 as applicable to service tax I. NEW SERVICES UNDER THE TAX NET 1) Medical Services Services of cosmetic surgery or plastic surgery (zzzzk). However  surgery...

Major Changes / Amendments in Income Tax and Wealth-tax Made in Budget 2009-2010

Posted: 06 Jul 2009 08:39 AM PDT

Direct Taxes No changes made in the Corporate Tax rates. For the Limited Liability Partnerships, the provisions of Income Tax are the same as applicable in the case of Partnership Firms formed as...

Major Changes / Amendments in Central excise duties Made in Budget 2009-2010

Posted: 06 Jul 2009 08:12 AM PDT

Excise duty rate on items currently attracting 4% to be raised to 8% with following major exceptions: Specified food items including biscuits, sharbats, cakes and pastries Drugs and...

Major Changes / Amendments in Customs duties Made in Budget 2009-2010

Posted: 06 Jul 2009 08:01 AM PDT

Customs duty of 5% to be imposed on Set Top Box for television broadcasting. Customs duty on LCD Panels for manufacture of LCD televisions to be reduced from 10% to 5%. Full exemption from 4% special...

Major Changes / Amendments in Service Tax Made in Budget 2009-2010

Posted: 06 Jul 2009 04:22 AM PDT

4 new services has been brought in the tax net a) Transport of goods through Water :- to any person, by any other person, in relation to transport of (i) coastal goods; (ii) goods through national...

Amendment in TDS rates and Provisions U/s. 194C & 194I of the Income Tax made in Finance Budget 2009-2010

Posted: 06 Jul 2009 03:31 AM PDT

194C- Under this section earlier there was same Rate of TDS in respect of Payment to all the class of the Assesses. Now finance minister has changed the rates and provided that that any person shall...

Union Budget 2009-10 Highlight on Direct & Indirect Taxes

Posted: 06 Jul 2009 01:49 AM PDT

  Service tax levied on law firm Custom duty on gold re-imposed Customs duty to be reduced on drugs for heart treatment No new tax on edible oil imports 4 per cent excise duty on cotton products...

Union Budget 2009-10 Major Highlights

Posted: 05 Jul 2009 11:59 PM PDT

·        Excise duty on fibre for cheaper cloth reduced ·        Service tax to be levied on law firms ·        Excise duty on petrol-driven small trucks reduced to 10% ·        Exemption of duty on...

With Regards, 
CA Sandeep Kanoi 

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