RATES OF INCOME TAX:

ASSESSMENT YEAR 2009-2010 and 2010-2011

• FIRM – 30% of Total Income.
• COMPANY - 30% of Total Income.

TDS RATES FOR THE F.Y 2009-10

• Payment to Individual\HUF – 1%
• Payment to Others - 2%
• Transporters - Nil (If PAN quoted)

UNION BUDGET 2009: Highlights

• Income Tax
• TDS (Tax Deducted at Source)
• Service Tax
• Customs Duty
• Others

DIRECT TAX CODE BILL: Highlights

Proposal for New Income Tax Act to be implemented from April 2011

• Lowers the incidence of tax on corporate and individual incomes
• Scope of income tax expanded to include value of perks, gifts, profit in lieu of salary and capital gains but excludes farm income
• The code proposes to abolish STT (Securities Transaction Tax)

VALUE ADDED TAX

• VAT
• TAX RATES
• SPECIAL RATES
• REGISTRATION OF A DEALER
• REGISTRATION FEES