Professional Documents
Culture Documents
2011-2012
HIGHLIGHTS
- -Printers
-Paper
-Soap
Dearer -Steel
-Diapers &
Sanitary napkins
-Legal Services -Homoeopathic
Medicines
-Healthcare in -Yarn/raw silk
top – end Pvt. -Mobile Phones
hospitals. -Agarbatti
-Solar Lantern,
-Branded Cloths LED Lights
-Battery Driven-
-Gold Vehicles
-Agriculture
-A/c restaurants machinery
serving Liquor
Cheaper
-Hotel Services
DIRECT TAXES
CORPORATE TAX
The Direct Taxes Code is likely to be effective from 1 April 2012
The Corporate tax,Firms,Local authority, Co operative Societies rate
remains unchanged
The basic rate of MAT increased to 18.5% from 18 %
The surcharge for domestic companies reduced to 5% from 7.5 %
The 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.
Provision for tax-free infrastructure bonds extended by 1more year
TAX HOLIDAY for IT companies finally ends Levy MAT on developers of SEZ
and units operating in them.
Levy Alternative Minimum Tax (AMT) in the case of Limited Liability partnerships
at 18.5%
Money market and debt funds will pay a higher dividend Distribution tax (DDT) for
investment made by firms.
DDT will rise to 30% from 25% but stay unchanged at 12% for individual investors.
The TDS structure & rates remains unchanged
For WOMEN
No change in tax Structure
Upto190,000 Upto190,000 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