Chapter 1 – Budget
Highlights
Direct Tax Individuals and HUFs
1. Tax slabs for individuals extended
2. Business assets out of deemed gifts
3. Deduction in respect of investment in long-term
infrastructure bonds Corporates
4. Surcharge decreased from 10 per cent to 7.5 per cent
5. MAT increased from 15 per cent to 18 per cent
6. Formula of computation for Tax holiday for SEZ units made
applicable retrospectively from AY 2006-07
7. Investment-linked tax incentives extended for 2 star and
above Hotels for any part of India
8. Extension of sunset clause for tax holiday for housing
projects
9. Increased in the weighted deduction for in-house research and
development and payment made to research organization
