Wednesday, February 27, 2013

HIGHLIGHTS OF BUDGET 2013-14 DIRCT TAXES

1 Tax credit of '2,000 for income up to '5 lakh:  
2 Additional surcharge on taxes only for 1 year:  
3 To continue with education cess at 3%:  
4 10% surcharge on companies with income over '10 cr:  
5 DDT surcharge raised to 10% from 5%:  
6 Extend 80IA by 1 year:  
7 Tax holiday for power plants extended to March 2014:  
8 15% tax on dividend from overseas arms to continue:  
9 FY14 fiscal deficit seen at 4.8% vs 5.2% in FY13:  
10 TDS at 1% of land deals over '50 lakh:  
11 To reduce STT on equity futures, MF units:  
12 Agri commodities to be exempt from CTT:  
13 To introduce CTT on non agri futures contracts at 0.1%:  
14 To incorporate decisions on GAAR:  
15 STT reduced from 0.17% to 0.1%:  
16 DTC is work in progress:  

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