Budget 2008

What expectations do you have from the budget that's being announced today?

From a personal perspective, do you expect any tax (income tax and others) concessions?

Use this thread to discuss budget related issues...

SOme observation from the Buget 2008:

1. Tax exemption hiked from Rs 1,10,000 to Rs 1,50,000
2. No change in corporate income tax rate.
3. NO FBT on creche, employee sports, guest houses facilities
4. Commodities Transactions Tax to be introduced
5. Securities Transaction Tax to be treated like deductible expenditure
6. Tax slab for Rs 3-5 lakh is 25 pc
7. Short term capital gains tax to be increassed to 15%
8. Subsidiary company dividend to be exempt from DDT
9. The banking cash transaction tax is to be withdrawn - effective from April 1, 2009

yes. new tax slabs

Taxable Income Existing Proposed[/b]

Upto 110000 NIL NIL

110001 to 150000 10% NIL

150001 to 250000 20% 10%

250001 to 300000 30% 10%

300001 to 500000 30% 20%

500001 and above 30% 30%