New Delhi: Union Finance Minister Pranab Minister on Friday presented the Union Budget 2010-11 in the Parliament. Highlights of Union Budget 2010-11 are as
follows: Rs 20,000
additional tax break for infra bonds 30 per cent income tax on Rs 8 lakh and
above 20 per cent income tax on Rs 5 - Rs 8 lakh 10 per cent income tax on
Rs 1.6 - Rs 5 lakh No income tax upto Rs 1.6 lakh Infotech usage in tax
management
to be enhanced Direct tax receipts to fall by Rs 56,000 crore R&D Corp Tax
break up to 200 per cent Corp Min Alternate Tax up from 15 to 18 per cent
Corporate tax surcharge down from 10 to 7.5 per cent Rs 20,000 additional tax
break for infra bonds Standard excise rate up from 8 to 10 per cent Large
cars, SUVs excise up to 22 per cent from 20 per cent Stimulus-led excise duty
rollback partially reversed Excise on cigars, cigarettes to go up Five per
cent import duty on crude petroleum restored To levy excise duty of Re 1/lt
on petrol Growth incentives coming up Partial rollback of excise duty on cement.
