Feb 26, 2010, 05.36 PM IST | Source: Moneycontrol.com

Budget for small businesses: Excise duty hiked

Worried about taxes? Find out how this budget affects your pocket

Budget for small businesses: Excise duty hiked
Find out all about the budget and how it affects your pocket. Here's how the Budget impacts small businessmen





Measure: New tax slab
Taxable income (in Rs) Rate (%)
Up to 160,000 Nil
160,001 - 500,000 10
500,001 - 800,000 20
800,001 upwards 30*

 



 

Impact:

Taxable income (Rs) Tax -before budget Tax after budget Saving
 
200000 4120 4120 0
500000 55620 35019 20601
1000000 210120 158619 51501
1200000 271919 220419 51500
1500000 364619 313119 51500
2000000 519119 467619 51500
2500000 673619 622119 51500
4000000 1137119 1085619 51500















(In Rs)

Measure
: Interest subvention of 2% extend for some exports, extend interest subvention exports by 1 year
Impact: If you are an exporter you have reason to cheer. You interest subvention continues.

Measure: Excise duty hiked from 8% to 10%
Impact: The Government has rolled back its stimulus package with an excise duty hike. This might pressure your margins.

Measure: Professionals with Rs 15 lakh income need account audit
Impact: If you fall in this slab, you will now need to get your accounts audited. Earlier the criteria of audit was for firms with income over Rs 10 lakh

Next page: Previous tax slabs

Illustration
: Vaibhav Shirke

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READ MORE ON  Budget

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