The major cause of celebration was that people earlier in the 30% slab (those currently earning between 5-8 lakhs) have now been shifted to the 20% rate of income tax and those in the 3-5 lakh group have shifted to a lower 10% rate of income tax. Add to this the deduction of Rs 20000… Read More »
The key element of the budget that creates an income of almost Rs.10,000 crores for the Government and increases inflation in a big way is the introduction of Customs duty on crude and introduction of excise duty of Re.1/liter on petrol. This announcement in fact lead to heated objections in the Parliament and the budget… Read More »
By far the most attractive thing in the Budget 2010 for individuals is the increase in the income tax slab limits. Though the entry level slab for income tax has not been changed from Rs.1.6 lakhs, there is a considerable jump in the other slabs. As per the words of the Finance Minister, this proposal… Read More »
Apart from this the finance minister has also given an additional deduction of Rs 20000 for any investments in Infrastructure bonds. This will be over and above the Rs 1 Lakh we already have. Thus meaning we could even save up to ten percent of our income in case we are in the lower end… Read More »
The industry & services sector were both expected to show a strong recovery and is performing along the expected lines. The mining sector is presenting a strong output expansion similar to its performance in June and July 2009 but the growth in the output of crude oil and coal has shown a marked decrease. Hence,… Read More »
With so many ambitious plans the funds for the expansion proposed at Rs.4,411 crores looks very less. Hope Ms.Banerjee has got her numbers tallied up for different projects. Also the increase in the expenditure for the next year at a mere 4.4% makes one question the numbers again. Probably the efforts to reduce the expenses… Read More »
Telecom is one of the fastest growing sectors in India. India has the second largest telecom user base in the world. However, the companies are recently witnessing intense competition leading to a price war. The increasing proliferation of dual SIM cards in the market is also leading to subscribers shifting their operators from time to… Read More »
“Now the definitive list must of course be produced by the ‘High Commission’ of our party/association but I have a few suggestions of my own. All students, irrespective of caste, creed or religion must be provided with free laptops. I mean, didn’t somebody somewhere provide free colour TVs to everyone? Our request, then, is definitely… Read More »
Of the investments in Section 80C, ULIPs and ELSS (Tax Saving Mutual Funds with 3 years lock-in)could be considered by investors with a long term (above 7 years and 3 years respectively)investment purpose. EPF is unavoidable for the salaried employee, so it becomes an automatic investment.
What if you have worked a part of the financial year abroad and have already paid the tax there? It is not fair that you have to pay tax on the same income twice in two different countries. It is here double taxation treaties signed by India with 66 other countries will help you. As… Read More »