Categories

Business Ideas
Business Opportunities
Corporate
Home Business
International Business
Management
Online Business
Public Company
Public Relations
Small Business

Popular Articles

StanChart IDR in March-April
StanChart Global CEO says the bank is waiting for the right market conditions.

Markets in green; Bharti bucks trend
The Sensex after rebounding into green touched a high of 17,226, and is now up 77 points at 17,196. The NSE Nifty is up 15 points at 5,132.

News of the day

Letters: Give up the DMO
In the press conference that he addressed after the release of the third-quarter review of monetary policy, the RBI governor articulated in a clear manner the rationale for his proposals (“An expansionary policy is like chakravyuh”, January 30). However, one statement that he made is disturbing. He said: “We are going to manage the liquidity situation; we are going to calibrate our monetary policy to manage the borrowing in 2010-11.” It means the subordination of monetary policy to the management of public debt. The proposal for a debt management office (DMO) in the government delinking it from RBI is being actively pursued on grounds of the so-called conflict of interest that the latter faces. Now that it is resolved in favour of debt management, there is one more reason as to why the proposal for the new office should be given up.
Public Relations

I-T exemption limit up for general taxpayers, senior citizens

Giving relief to individual taxpayers, the government today raised the income tax exemption limit by Rs 10,000 for general taxpayers, and by Rs 15,000 for senior citizens. - Budget lackluster; disappointed K"taka, says Yeddyurappa - Small businesses exempted from book keeping - PSU stocks wealth erodes by Rs 82,000 cr on Budget day - Pension fund ind welcomes move to exempt NPS Trust from STT - Govt slashes customs duty on wind power equipment to 5% - Legal community divided over service tax on legal services For general taxpayers, income of up to Rs 1.6 lakh per annum for men and Rs 1.90 lakh per annum for women is tax-exempt. Senior citizens will not have to pay tax up to an annual income of Rs 2.4 lakh. What is your tax liability? Income level (Rs) * 2,50,000 5,00,000 10,00,000 15,00,000 Tax paid by: Senior citizen FY2009 2575 48925 203425 393718 FY2010 1030 47380 201880 356380 Women below 65 yrs FY2009 7210 53560 208060 398816 FY2010 6180 52530 207030 361530 Man below 65 yrs FY2009 10300 56650 211150 402215 FY2010 9270 55620 210120 364620 * Annual taxable income after all eligible deductions Announcing these measures while presenting the Budget for 2009-10, Finance Minister Pranab Mukherjee said his direct tax proposals are revenue-neutral and would not result in any revenue loss. The present income tax exemption limit is Rs 1.5 lakh for men, Rs 1.8 lakh for women and Rs 2.25 lakh for senior citizens. Mukherjee also removed the surcharge on income above Rs 10 lakh for personal income tax payers. The surcharge was levied at the rate of 10 per cent on income above Rs 10 lakh. In another relief to the tax payers, the Minister raised the deduction for maintenance of medical treatment of dependence from Rs 75,000 to Rs 1 lakh. Higher exemption limit will help the taxpayers in meeting the medical needs of dependents. Meanwhile, he also proposed to introduce Saral-II form to enable the taxpayers to file their returns without difficulty. As regards the corporate tax, the minister raised the Minimum Alternate Tax to 15 per cent from 10 per cent. The minister, however, abolished the Fringe Benefit Tax and Commodities Transaction Tax (CTT).


Add your comment:
Name:
Site address: http://
Your message:
Enter today\\\\'s date, 2 digits
(spam protection):

© Copyright 2009