Home »Budgets » 2009-10 » Salient features

Withholding tax on commercial imports raised to 4 percent from 2 percent

-- Cigarettes to cost more

-- CVT on property transactions now 4pc instead of 2pc Rs 10bn access Credit guarantee for SMEs

-- Bankruptcy and Rehabilitation Act to be enacted

-- 5% excise duty on new cars withdrawn

-- FED on cement reduced from Rs 900 to 700 PMT

-- Rs 10bn venture capital fund to be set up

-- Limit on corporate donations raised to 20pc from 15pc 2.5pc tax credit to companies upon 90% purchases from sales tax registered suppliers

-- One time 5pc tax on taxable individuals, AOPS and 30pc on bonus to corporate executives

-- 20 paisas FED per SMS

-- 16pc FED in VAT mode on insurance services, bank and NBFI services, port, terminal operators, stock brokers

Copyright Business Recorder, 2009


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