Tech Budget 2010: Highlights

26 Feb, 2010, 1121 hrs IST, Indiatimes Infotech,

NEW DELHI: Highlights of 2010-11 budget presented by Finance Minister Pranab Mukherjee in parliament:

* Mobile accessories market to get tax breaks

* Market responds positively, Sensex up 300 pts

* R&D Corp Tax break up to 200%

* 30% income tax on Rs 8 lakh and above

* 20% income tax on Rs 5 - Rs 8 lakh

* 10% income tax on Rs 1.6 - Rs 5 lakh

* No income tax upto Rs 1.6 lakh

* Saral 2 form to be rolled out for simplification of tax filing in 2010-11

* Infotech usage in tax management to be increased

* First set of UID numbers this year

* Tech advisor group under Nandan Nilekani

* UID authority given Rs 1900 cr

* Allocation for urban development up 75% from Rs 3062 cr to Rs 5400 cr

* Hike in allocation for school education

* Rs 1.73 lakh crore for infrastructure

* To establish clean energy fund

* Rs 16,500 cr capital support for PSU banks

* Gradual phasing out of stimulus

* Govt will implement direct tax code by April 1, 2011

* Economic growth slows down to 6% in Q3

* Economy stabilised in Q1 of 2009

* First challenge is to get to the high GDP growth path

* Sensex quotes 0.4% up before the Budget

* Disinvestment target:Rs 25,000 cr this year

Source: http://infotech.indiatimes.com/articleshow/5618630.cms