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BUDGET -2010   HIGHLITES   -CA SUDHIR HALAKHANDI-   NEW INDIVIDUAL TAX RATES   AMOUNT TAX RATE UP TO RS. 1.60 LACS NIL OVER 1.60 LACS TO 5 LACS 10% OVER 5 LACS TO 8 LACS 20% OVER 8 LACS 30%   MAT HAS BEEN INCREASED TO 18 % (FROM 15%). SURCHARGE WHEREVER APPICABLE REDUCED TO 7.5% FROM 10%. TAX AUDIT LIMIT ENHANCED TO RS. 60 LAKHS FOR BUSINESS AND 15 LAKHS FOR PROFESSION.     ADDITIONAL DEDUCTION OF RS. 20000.00 WITH RESPECT TO INFRASTRUCTURE BONDS- IN ADITTION TO RS, 1 LAKH. NEW VERSION OF SARAL- RETURN FORM FOR INDIVIDUAL. EXCISE RATES INCREASED TO 10%. SERVICE TAX RATE UNCHANGED- 10%. TRANSPORTATION OF PULSES EXEMPTED UNDER GTA SERVICE – EXISTING EXEMPTONS FRUIT, VEGETABLE, MILK AND EGGS.   -         AS COMPLIED FROM THE BUDGET SPEECH OF FINANCE MINISTER-

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