Important Due Dates -Nov 2008
     
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    :: Deadlines ::
05
: Service Tax  Payment for Month of October.
05 : Excise payment for month of October.
07 TDS/TCS payment / Filing 15H/27C for October.
10 Submission of Monthly Stock & Book Debts Statements to Bankers.
10 Excise Returns for month of October.
15 : PF Payment for October.

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:: Updates ::

NEW INCOME TAX FORM FOR A.Y.2007-2008 AND A.Y.2008-2009

To download click here

AMENDMENTS IN PROVISIONS OF FINANCE BILL, 2008 AFTER PROPOSAL 

                                
  1. Threshold limits increased from Rs. 110000/- to Rs. 150000/-.
  2. Threshold limit for women assessee Rs. 180000.
  3. Threshold limit for senior citizen assessee Rs. 225000
  4. Changes in Slab rates
  • 150000 to 300000                   10%
  • 300001 to 500000                   20%
  • 500001 and above                   30%
  1. No change in Corporate tax.
  2. No change in surcharge rates.
  3. Additional deduction u/s 80D for medical insurance premium paid for parents
  4. Short term capital gains rate increased from 10% to 15%.
  5. STT now deductible as business expenses instead of Rebate.
  6. BCTT to be withdrawn from 01-04-2009
  7. CST rate cut to 2% from 3%.
  8. No Change to Service Tax Rate.
  9. Basic Exemption limit for Service Tax increased to Rs.10 Lakhs.
  10. PAN requirement to be extended to all transactions in financial market subject to a threshold limit

More Details on Union Budget Proposals 2008-2009

Last Updated: 03 Nov, 2008
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