1)I1/) +)1O) +I1I

20112012
1inin.
Presented By
Ankit Bansiwal
Raghav Jain
-
Dearer
-Legal Services
-Healthcare in
top end Pvt.
hospitals.
-Branded
Cloths
-Gold
-A/c restaurants
serving Liquor
-Hotel Services
-Printers
-Paper
-Soap
-Steel
-Diapers &
Sanitary napkins
-Homoeopathic
Medicines
-Yarn/raw silk
-Mobile Phones
-Agarbatti
-Solar Lantern,
LED Lights
-Battery Driven-
Vehicles
-Agriculture
machinery
Cheaper
DIRLC1 1AXLS
Corporate tax
%he Direct %axes Code is likely to be effective from 1 April 2012
%he Corporate tax,Firms,Local authority, Co operative Societies rate
remains unchanged
%he basic rate of MA% increased to 18.5% from 18 %
%he surcharge for domestic companies reduced to 5% from 7.5 %
%he surcharge Non domestic companies reduced to 2 % from 2.5 %
NEW INCOME-TAX return form called Sugam to be introduced for small
business.
Salary earners having an income of less than ` 5 lakh is exempted for filing
income tax return from this year.
!rovision for tax-free infrastructure bonds extended by 1more year
%AX HOLDAY for % companies finally ends Levy MA% on developers of
SEZ and units operating in them.
Levy Alternative Minimum %ax (AM% in the case of Limited Liability
partnerships at 18.5%
Money market and debt funds will pay a higher dividend Distribution tax
(DD% for investment made by firms.
DD% will rise to 30% from 25% but stay unchanged at 12% for individual
investors.
%he %DS structure & rates remains unchanged
Above rules are made effective from 01.04.2011
Personal %axation
or MEN
Current SIabs (`) !roposed SIabs (`) Basic rate of tax
&pto160,000 &pto180,000 Nil
160,001to500,000 180,001to500,000 10%
500,001to800,000 500,001to800,000 20%
Above800,001 Above800,001 30%
or WOMEN
No change in tax Structure
&pto190,000 &pto190,000 Nil
190,001to500,000 190,001to500,000 10%
500,001to800,000 500,001to 800,000 20%
Above800,000 Above800,000 30%
For Senior Citizen (60-80years
Age for eligibility reduced from 65 years to 60 Years
&pto 240,000 &pto 250,000 Nil
240,001to500,000 250,001to500,000 10%
500,001to800,000 500,001to800,000 20%
Above800,001 Above 800,001 30%
For Senior Citizen (80years & above
Hike in exemption limit to ` 5 lakh will result on big gains
&pto 240,000 &pto 500,000 Nil
240,001to500,000 - 10%
500,001to800,000 500,001to800,000 20%
Above 800,001 Above 800,001 30%
INDIRLC1 1AXLS
Central excise
Central Excise Duty to be maintained as 10% only (un changed
Nominal Central Excise Duty of 1 % without Cenvat credit facility is being
imposed on 130 items entering in the tax net.
Lower rate of Central Excise Duty enhanced from 4 % to 5 %
Optional levy on branded garments or made up proposed to be converted
into a mandatory levy at unified rate of 10 per cent.
Labelled jewellery and Precious metals attract 1% excise duty.
Excise duty on sanitary napkin, baby & clinical diapers and adult diapers is
being reduced from 10% to 1%.
Concessional rate of excise duty for Hydrogen / hybrid vehicle.
Exemption withdrawn on HD drive, CD/DVD drive,& writers, Flash memory,
Combo drives meant for fit inside of CP& or Laptop will attract 5% of
concessional excise duty .
anges come into effect immediately unless oterwise specified.
Service tax
Service tax rate remains unchanged at 10 percent as a pre-cursor to GS%
Legal Cases will also become a costly affair to cover all legal consultations,
except individual to individual ,under service tax net.
Hotel accommodation in excess of ` 1,000 per day will come under the
ambit of tax ,although there will be an abatement of 50%
service provided by air conditioned restaurants that have license to serve
liquor added as new services for levying Service %ax at 3- 5%. After an
abatement of 70%
%ax on all services provided by hospitals with 25 or more beds with facility
of central air conditioning at the rate of 5%
Service %ax on air travel raised from ` 100 to ` 150 in the case of domestic
air travel and ` 500 to ` 750 on international journeys by economy class.
%he domestic air travel on higher classes will be taxed at the standard rate
of 10%
Services provided by life insurance companies in the area of investment
and some more legal services proposed to be brought into tax net.
Above rules are made effective from 01.04.2011
Customs duty
Basic customs duty on agricultural machinery reduced to 4.5 per cent from
5 per cent
Basic customs duty on raw silk reduced from 30 to 5 per cent.
Basic customs duty on solar lantern or lamps reduced from 10 to 5%
CVD exempted fully on LEDs used for manf of LEDs light & fixtures.
Fully exemption from basic custom duty is being extended battery charger,
hands free, head phones and PC connectivity cable of mobile handset
including cellular phones.
Basic customs duty on bamboo used for manf of agarbattis is being reduced
from 30% to 10%
%he government has added a fixed excise duty of ` 160 per tonne on
cement and reduced custom duty on petcoke and gypsum, key inputs for
the sector.
anges come into effect immediately unless oterwise specified.
Goods and service tax
GS% proposed to be rolled out from April 2012
Several proposals under the existing tax regime should facilitate a move to
wards GS%
Focus on building robust % infrastructure
Further rationalization of rates under Excise and Customs
Central sales tax
No Changes in CS% act 1956
%ank You