The Budget 2009 highlights. Outcomes of the union budget 2009
presented by Pranab Mukheerjee today in the Lok sabha.
- New Saral Forms will be introduced to file the income tax returns. Saral 2 will be made more simple for the common man.
- Fringe Benefit Tax removed.
- Income tax surcharge removed.
- Corporate taxes to remain same.
- Senior Citizens Income tax exemption limit increased to 2.4 lakhs.
- Ladies Income tax exemption limit incresed to 1.9 lakh.
- General Public’s income tax limit will be 1.6 lakhs.
- Pension Maturity scheme will be taxable.
- Commodity Transaction Tax (CTT) removed.
- Poll Campaigning fund will be 100% tax free.
- Life saving drugs cheaper.
- Cotton clothes ,woollens costlier.
- Mobiles cheaper.
- Branded Jewellery to cost less.
- Computer, softwares to cost less.
- CFL, Water Purifier, Pressure cookers to cost less.
- Set top boxes, to cost more, LCD’s to cost less.
- Bio diesel cheaper.
- Diesel Trucks to cost more, petrol trucks to cost less.
- Transport’s service Tax removed.
- Service tax on CA (Chartered Accountant )removed.
- Doctors and Lawyers will be subject to service tax.
These are the Major Highlights of the Budget 2009.
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