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Union Budget 2007-2008 - Highlights

28
Feb '07
Union Finance Minister PC in the Parliament reads his Budget 2007-2008 speech. Fibre2fashion is privileged to bring his announcements and pronouncements on the Budget 2007-2008.

Tax-free salary hiked to Rs1,10,000

Technology biz incubators exempt from service tax.

Mouth Fresheners to be cheaper, excise duties slashed to 40 percent. Women's development allocation will be Rs22,282 crore.

No change in corporate income tax.

Direct Taxes: 5 year tax holiday for 2,3 and 4 star hotels for Commonwealth Games in NCR Region.

Direct Taxes: Venture Capital Funds to get pass-through status only in respect of investments in biotech, IT hardware and software

Biodiesel fully exempted from excise duty

Direct Taxes: Dividend Distribution Tax to go up to 15 percent

MAT to be extended

Fringe Benefit Tax to be extended to ESOPS

Additional 1 percent CESS on all taxes for secondary education

Service tax extended to commercial renters

Tax as of GDP at 11.4 percent

Gas-pipelines to get 10 year tax holidays





Fibre2fashion News Desk - India


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