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Marketing Question Bank

Marketing Question Bank

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Published by Hardik Savla

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Published by: Hardik Savla on May 19, 2011
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11/24/2011

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Budget Snapshot 2010 -11 : CHALLENGES The first challenge is to maintain the GDP growth rate to over 9% p.a. then find the means to cross the double digit growth barrier To address the weaknesses in government systems, structures and institutions at different levels of governance. PRANAB MUKHERJEE, FINANCE MINISTER OF INDIA. Budget Snapshot 2010 -11 Budget Snapshot 2010 -11 : OVERVIEW OF ECONOMY India among the first few countries in the world to implement major reforms to negate fallout of the global slowdown. The growth rate in manufacturing sector in December 2009 was 18.5 per cent ² the highest in the past two decades. Budget Snapshot 2010-11 Budget Snapshot 2010 -11 : PEOPLE·S OWNERSHIP & IMPROVING INVESTMENT ENVIRONMENT Government Plans to Raise more than Rs. 25,000 Crs. through Disinvestment of PSUs. Methodology for calculation for Indirect Foreign Direct Investment in Indian Company has been clarified. Granting Additional Banking Licenses to Private Banks to diversify their operations and provide more financial infrastructure. Budget Snapshot 2010-11 Budget Snapshot 2010 -11 : Proposed Laws: Direct Tax Code (DTC) to be implemented from 1st April, 2011. GST to be rolled out from 1st April, 2011. Introduction of pending Companies Bill, 2009 to replace the existing Companies Act, 1956. Budget Snapshot 2010-11 Budget Snapshot 2010 -11 : DIRECT TAXES: Individual (Male) Individual (Female) Individual -Senior Citizen (Age > 65 Male / Female) Budget Snapshot 2010-11 Budget Snapshot 2010 -11 : DIRECT TAXES (contd.): Saving in Taxes for Individual (E xample) Deduction of an additional Investment of Rs. 20,000 in infrastructure Bond over and above existing limit of Rs. 100,000 (U/s 80 C) is allowed. Budget Snapshot 2010 -11 Budget Snapshot 2010 -11 : Direct Taxes (contd.): To boost investment in Tourism, Initial Capital Investment in TwoStar hotels construction is allowed as Deduction from the incomes. As one time relief to Housing & Real Estate Sector, extension of additional 1 year has been granted to complete the Projects to avail the deduction. Surcharge on Corporate Income Tax has been Reduced to 7.5% from 10% Minimum Alternate Tax on Book profits increased to 18% from 15% Limit of Tax Audit U/s 44AB enhanced to Rs. 60 L from Rs. 40L. Expenses on which, TDS is deducted during the Financial Year will be allowed as deduction only if TDS is paid before due date of filing of Income Tax Return. Delay in payment of TDS will attract Interest @ 18% p.a. Vs. 12% p.a. Budget Snapshot 2010 -11 Budget Snapshot 2010 -11 : Budget Snapshot 2010 -11 Direct Taxes (contd.): Upward increase in threshold limit relating to TDS w.e.f. 1st Jul, 2010. Budget Snapshot 2010 -11 : INDIRECT TAXES: -Excise Basic Central Excise Duty on Non Petroleum Products increased from 8% to 10% Ad Valorem. Central Excise Duty on Petrol & Diesel increased by Rs. 1 per liter. Proportionate rise in Specific Duty for Cement and Cement clinkers. Ad-Valorem Duty

Vastu. w. 01.): -Service Tax Renting of Immovable Property is now specifically brought into Service Tax net. laying of sewerage and water pipelines.first floor. Number. Budget Snapshot 2010 -11 Budget Snapshot 2010 -11 : INDIRECT TAXES (Contd.Multi Utility Vehicle increased by 2% to 22%. Reduction in Central Excise Duty on corrugated boxes and cartoons from 8% to 4%. corner flat. 2006.): -Service Tax Service Tax to be paid on residential / commercial premises to the Builder for following services: 1. 3. Transport of Goods by Railway will also be liable to service tax w. Prime/preferential location charges for a flat/commercial space according to the choice of the buyer (i. Budget Snapshot 2010 -11 Budget Snapshot 2010 -11 : INDIRECT TAXES (Contd. top floor. Floor.09% (i. park facing. 1st July.sea facing.f. and 4. Fire-fighting installation charges. providing access roads and common lighting etc. Internal or external development charges which are collected for developing/ maintaining parks.e.having the bed room in a particular direction. Direction.lucky numbers).e.3% less 70% abatement) Budget Snapshot 2010-11 . 2.e.04.e.on Large cars . Power back up charges etc. 10. levy of which was earlier stayed by an order of Delhi High Court.2010 other than exempted goods @ 3.f.

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