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Union Budget 2007-2008 - Highlights
28 Feb '07
1 min read
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
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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