Union Budget: Highlights (Part-IV)

New Delhi, Feb 26: The Union Budget for the 2010-11 was presented by Union Finance Minister Pranab Minister before the parliament on Friday, Feb 26.

Highlights of Part IV of the Union Budget 2010-11 are as follows:

Rs 20,000 additional tax break for infra bonds

30 per cent income tax on Rs 8 lakh and above

20 per cent income tax on Rs 5 - Rs 8 lakh

10 per cent income tax on Rs 1.6 - Rs 5 lakh

No income tax upto Rs 1.6 lakh

Infotech usage in tax management to be enhanced

Direct tax receipts to fall by Rs 56,000 crore

R and D Corp Tax break up to 200 per cent

Corp Min Alternate Tax up from 15 to 18 per cent

Corporate tax surcharge down from 10 to 7.5 per cent

Rs 20,000 additional tax break for infra bonds

Standard excise rate up from 8 to 10 per cent

Large cars, SUVs excise up to 22 per cent from 20 per cent

Stimulus-led excise duty rollback partially reversed

Excise on cigars, cigarettes to go up

Five per cent import duty on crude petroleum restored

To levy excise duty of Re 1/lt on petrol

Growth incentives coming up

Partial rollback of excise duty on cement.

ANI