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Budget 2009 :Presumptive Taxation of 8 per cent on businesses of turnover of up to Rs 40 lakh. - Agencies
Jul 06, 2009
More Budget 2009 Stories
Small businesses up to Rs 40 lakh turnover exempted advance tax returns.
Budget 2009-10 Highlights
Income tax incentives on education loans expanded to cover vocational studies
New pension system trust exempted from security transaction tax and dividend distribution tax.
Govt to introduce Food Security Bill soon
Investment linked tax benefits in areas of agriculture and national grid.
Surcharge on personal income tax removed
Raise in IT exemption limit for Women
Highlihgts of Budget 2009-10
Personal income tax exemption limit for senior citizens raised
Effort is to improve tax collection
Minimum Alternate Tax on book profits increased
Direct Tax code to be released in 45 days
Defence allocation gets a 34 % hike
Fiscal deficit in 2009-10 is proposed at 6.8 per cent of GDP
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