Union Budget 2009-10 Major Highlights

The Lok Sabha has passed the Finance Bill for 2009-10 by a voice vote on Monday, Finance Minister Pranab Mukherjee has said that economic recovery has begun and India would achieve 8-9 pc economic growth by the end of 2010. Finance Minister Pranab Mukherjee has announced a slew of concessions, including one pc interest subsidy for [...] Full Article

BUDGET 2009 has proposed to substitute existing explanation 5A below section 271(1)(c ) with new explanation 5A with retrospective effect from 01/06/2007. This new section provides that if in the course of search an assessee is found to be the owner of any money, bullion, jewllery or other valuable articles or thing; and the assessee [...] Full Article

·        Excise duty on fibre for cheaper cloth reduced ·        Service tax to be levied on law firms ·        Excise duty on petrol-driven small trucks reduced to 10% ·        Exemption of duty on goods made at construction sites restored ·        Drugs for heart diseases to become cheaper ·        Customs duty on gold and silver import [...] Full Article