Highlights of Union Budget 2010-11 (Part-IV)
February 26th, 2010 - 2:04 pm ICT by ANINew Delhi, Feb 26 (ANI): Union Finance Minister Pranab Minister on Friday presented the Union Budget 2010-11 in the Parliament.
Highlights of Union Budget 2010-11 are as follows:
* Rs 20,000 additional tax break for infra bonds
* 30 per cent income tax on Rs 8 lakh and above
* 20 per cent income tax on Rs 5 - Rs 8 lakh
* 10 per cent income tax on Rs 1.6 - Rs 5 lakh
* No income tax upto Rs 1.6 lakh
* Infotech usage in tax management to be enhanced
* Direct tax receipts to fall by Rs 56,000 crore
* R&D Corp Tax break up to 200 per cent
* Corp Min Alternate Tax up from 15 to 18 per cent
* Corporate tax surcharge down from 10 to 7.5 per cent
* Rs 20,000 additional tax break for infra bonds
* Standard excise rate up from 8 to 10 per cent
* Large cars, SUVs excise up to 22 per cent from 20 per cent
* Stimulus-led excise duty rollback partially reversed
* Excise on cigars, cigarettes to go up
* Five per cent import duty on crude petroleum restored
* To levy excise duty of Re 1/lt on petrol
* Growth incentives coming up
* Partial rollback of excise duty on cement. (ANI)
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Tags: bonds, cigarettes, cigars, crude petroleum, excise duty, import duty, incentives, income tax, lakh, large cars, New Delhi, rollback, rs 1, rs 8, stimulus, tax break, tax management, tax receipts, union budget, union finance minister