Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: due date for vat payment :: VAT Audit :: Central Excise rule to resale the machines to a new company :: TDS :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4% :: articles on VAT and GST in India :: cpt :: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: form 3cd
 
 
Direct Tax »
 GST is a transformational business process reform. All companies will have to change
 GST Council relaxes return filing rules for July-Aug
 Here's how self-employed individual can file tax return with ITR4
 CBDT mulling new system of jurisdiction-free I-T assessment to curb corruption
 CBDT draft notice on computing tax liability of foreign firms
 CBDT forms task force for jurisdiction-free income tax assessment system
 Aadhaar must for filing returns from July 1: CBDT
 Aadhaar mandatory for filing I-T returns and obtaining new PAN card from July 1: CBDT
 Central Board of Direct Taxes cuts profit margin for safe harbour rules
 What is TDS and how does it work?
 Income tax return: Do super senior citizens have to file returns?

Budget Expectations: Business class awaits relief on direct tax slabs
March, 12th 2012

Businessman generally expects the Budget to create a positive environment in the marketplace for him to do business. Will our Finance Minister boost the sentiments and business confidence by announcing consumption-oriented Budget?

Last year's Budget had brought some relief to the common man. The expansion of tax slabs not only provided considerable relief to tax payers but had also triggered savings and their consumptions for infrastructure development. Pranab Mukherjee had declared a tax exemption on  Rs 20,000 for investing in tax saving infrastructure bonds.  Yet a number of earning individuals were hoping for a comeback of Standard Deduction, but were left unpleased after the announcement.

Under the new tax slabs, base slab for tax payers has been increased to Rs 1.8 lakhs from Rs 1.6 lakhs. Also the second slab with 10 % income tax bracket on taxable income up to Rs 3 lakhs has been increased to Rs 5 lakhs.
Therefore this Budget should ease the direct taxation slabs which will prove beneficial for the professionals and businessmen & will help them expand their business. But to what extent, that remains a question in everyone's mind.
On the other hand if the taxes are increased it will end up in a negative scenario. There can be additional surcharge to compensate the fiscal deficit.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Privacy Policy

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions