Union Minister Pranab Mukherjee on 06/07/2009 presented the much-awaited Budget for the fiscal 2009-10 in the Parliament.

Relyon brings you the best and informative parts from the budget towards taxation. The due care has been taken while presenting the content over here.

Changes with respect to Taxation:

Direct Taxes

1. Change in the Tax Rate Slabs for Individuals
2. Surcharge
3. Section 80E
4. Section 80DD
5. Advance Tax
6. Payment to Transport Operators
7. Salary to Partners
8. Fringe Benefit Tax
9. Minimum Alternate Tax
10. Section 89
11. Document Identification Number (DIN)
12. For Small Business (Presumptive Income Scheme)
13. Section 44AE - Presumptive income for Goods Carriages:
14. Limited Liability Partnership
15. Wealth Tax
16. Commodity Transaction Tax (CTT)

Tax Deduction at Source

1. TDS Rates
2. Surcharge and Cess
3. Payment to Transporters:
4. Compulsory PAN (Section 206AA)
5. TDS reconciliation (Section 200A)
6. TDS returns
7. Computerized processing of TDS returns

Thats all the major coverage from the Interim Union Budget presented by Minister of Finance in the parliment for the year 2009.

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