No Income tax return for salaried less than 500000

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• No Income tax return for salaried less than 500000
• Excise custom service tax proposals in budget 2011
• Direct tax proposals in Finance Bill 2011 at a Glance

No Income tax return for salaried less than 500000 Posted: 28 Feb 2011 06:59 PM PST Salary earners having an income of less than Rs 5 lakhs will not have to file tax returns from this year, a finance ministry official said. "Salaried people, may be up to Rs 5 lakh.(figure yet not confirmed )..they need not file the (income tax) return," CBDT chairman Sudhir Chandra told reporters at the customary post-Budget press conference. The exemption from filing tax returns come into... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Excise custom service tax proposals in budget 2011 Posted: 28 Feb 2011 06:30 PM PST INDIRECT TAXES: Excise and customs duty proposals to result in net gain of Rs7,300 crore. Standard rate of Central Excise duty maintained at 10% No change in CENVAT rates 130 items, mainly from the consumer goods category, brought into the Central Excise regime. Remaining 240 items to be brought into the tax net when general sales tax (GST) would be introduced. Nominal 1% central excise duty... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Direct tax proposals in Finance Bill 2011 at a Glance Posted: 28 Feb 2011 08:16 AM PST Budget Speech of the Finance Minister relating to Direct taxes is cozy to the taxpayers but changes as found in fine print show that the tax administration has neither changed its mind set nor its approach with regard to tinkering of tax provisions at regular intervals. The Budget 2011 exhibits lack of vision on the part of the lawmakers to reform and carry forward the provisions of law in tune... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

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