India Insured

Budget 2008 Highlights   NEW DELHI  - Finance Minister Palaniappan Chidambaram presented the union budget for 2008/09 on Friday, the fifth and final full one of the administration before elections due by May 2009.   Banking cash transaction tax withdrawn from April 1, 2009 Indirect tax proposals to result in loss of Rs 5,000 cr Direct tax proposals to be revenue neutral Dividend of subsidiary company exempt from DDT Reduce central sales tax to 2% Increase in short term capital gains tax to 15% 5-yr tax holiday for setting up hospitals in tier-II, tier III regions Excise duty of Rs 1.35/litre on unbranded petrol Excise duty of Rs 4.6/litre on unbranded diesel Commodities Transactions Tax to be introduced Securities Transaction Tax to be treated like deductible expenditure 5-yr tax holiday to 2,3,4-star hotels in UNESCO's heritage sites NO FBT on creche, employee sports, guest houses facilities No change in corporate income tax rate No change in corp

Budget 2008 – Expectations   --Life may be less taxing after Budget – --FM may hike STT, says NSDL's Tilak --Brokerage expectations from 2008/09 budget --BPO industry seeks separate identity --Drug cos seek cure for R&D in the forthcoming budget --Animation & gaming companies want STPI-like tax break for exports --Textile machinery sector needs a booster dose --Dismantle tax on house construction: Urban Housing Ministry --Consumer durable makers for lower indirect taxes --Plantation cos look for rejuvenation package --Budget 2008: Govt should allow 100% FDI in retail --Lotus Mutual CEO expects, at best, mildly positive Budget --Excise, interest rate cuts to improve manufacturing: FICCI --Brainstorming with ET: Great minds on Budget     Life may be less taxing after Budget – NEW DELHI: Finance Minister P Chidambaram might spread cheer all around with Budget 2008-09, the last full-fledged Budget of the UPA government. A hike in the inco