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FINANCE BUDGET 2011-12 

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Page 1: FINANCE BUDGET 2011 -12

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FINANCE BUDGET 2011-12 

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  ANAND S. AWAR(MBA) RACHAPPA(M.COM)  RAJEEVKUMAR(MBA) SHIAVANAND(M.COM)  RAJKUMAR(MBA) SHARANRAJ(M.COM)

 SHIVAKUMAR(MBA)VIVEKKUMAR(MBA)

FINANCE BUDGET 2011-12

- AN ANALYSIS ON TAX PROPOSALS 

 BY 

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FINANCE BUDGET 2011-12 

 AN ANALYSIS 

 AGENDA 

Direct Tax 

Indirect Tax 

 Agriculture and Related Sectors  Manufacturing Sector   Environment   Infrastructure Other Proposals  Service Tax 

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FINANCE BUDGET 2011-12 

 AN ANALYSIS 

 Exemption limit for the general category of individual taxpayers

enhanced from 1,60,000 to 1,80,000 giving uniform tax relief of 

2,000.

 Exemption limit enhanced and qualifying age reduced for senior 

citizens from 65 to 60.

 Higher exemption limit for Very Senior Citizens, who are 80 years or 

above.

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 Annual Income Income Tax Applicable For  

0-5,00,000 Nil   Very Senior Citizen

5,00,001-8,00,000 20% Very Senior Citizen

  Above 8,00,000 30% Very Senior Citizen

FINANCE BUDGET 2011-12 

 AN ANALYSIS 

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Current Surcharge of 7.5% on domestic companies proposed to bereduced to 5%.

Rate of Minimum Alternative Tax proposed to be increased from 18% to

18.5% of book profits.

Tax incentives extended to attract foreign funds for financing of 

infrastructure.Additional deduction of 20,000 for investment in long-term

infrastructure bonds proposed to be extended for one for year.

Lower rate of 15% tax on dividends received by an Indian company

from its foreign subsidiary.

All small tax payers and small businessowners with revenue up to Rs.60 lakhs are

exempt from audit .

FINANCE BUDGET 2011-12 

 AN ANALYSIS 

OHER PROPOSALS;

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 Invest ent li nk e e cti  n t si ness evel i  ng  ff r le

si ng  .

Wei  ghte e cti  n  n y ents e t N ti  nal Labor at ories,

U ni versi t i es and   Inst i t tes o f Technol og  y t o be enhanced t o %.

 yste o f collect ion o f in f or  at ion fr om f oreign t ax j r i sdi ct ions t o

be streng t hened  .

mpl o  yer¶s contr ibut ion t o  pension scheme t o be all owed  as a

d educt ion . Benef i t o f invest ment l ink ed  d educt ion e x tend ed 

t o businesses engag ed  in t he  pr oduct ion 

o f fert i l i  zers.

FINANCE BUDGET 2011-12 

OHER PROPOSALS;

 AN ANALYSIS 

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 INDIRECT TAXES 

To stay on course for transition to GST.

Central Excise Duty to be maintained at standard rate of 10%.

Reduction in number of exemptions in Central Excise rate

structure.

Nominal Central Excise Duty of 1% imposed on 130 items

entering in the tax net.

Lower rate of Central Excise Duty enhanced from 4% to 5%.

Optional levy on branded garments or made up

proposed to be converted into a mandatory levyat unified rate of 10%.

Peak rate of Custom Duty held at its current level.

FINANCE BUDGET 2011-12 

 AN ANALYSIS 

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 AGRICULTURE AND RELATED SECTORS:

 S cope o f e x empt ions fr om   x ci se Duty enl ar  g ed t o incl ud e e uipments

need ed f or st or ag e and   warehouse f aci l i t i es on ag r i cult ur al  pr oduce.

 Basi c ust om Duty reduced f or s peci  f i ed  ag r i cult ur al machinery fr om 

% t o . %.

 Basi c ust om Duty reduced  on mi cr o-i rr igat ion e uipment fr om

7  . % t  o %.

 De-oi led r i ce br an cak e t o be f ully e x empt fr om basi c ust om Duty.

 xport Duty o  f % t o be levi ed  on i ts e xport.

FINANCE BUDGET 2011-12 

 AN ANALYSIS 

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 MANUFACTURING SECTOR

 Basi c ust om Duty reduced f or var ious i tems t o encour ag e domest i c

val ue addi t ion vi s-à-vi s imports , t o remove duty inversion and  

 pr ovid e a level  pl a ying f i el d t o t he domest i c industry.

 Rate o f   xport Duty f or all ty pes o f i r on ore enhanced  at % ad  

val orem . F ull e x empt ion fr om   xport Duty t o i r on ore  pellets.

 Basi c ust om Duty on t wo cr i t i cal r aw mater ials o f cement industry,

namely  petcok e and   g  y psum i s  pr oposed t o be reduced  o . %.

ash di s pensers f ully e x empt fr om basi c ust om 

 Duty.

FINANCE BUDGET 2011-12 

 AN ANALYSIS 

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F ull e x empt ion fr om basi c ust oms Duty and  a concessional r ate o f entr al 

 x ci se Duty e x tend ed t o batter i es imported  b y manu f act urers o f electr i cal vehi cles.

oncessional   x ci se Duty o f   per cent t o vehi cles based  on F uel cell technol og  y.

x empt ion  g r anted fr om basi c cust om duty and s pecial D t o cr i t i cal 

 parts/ assembl i es need ed f or ybr id vehi cles.

 Reduct ion in   x ci se Duty on ki ts used f or conversion o f f ossi l f uel vehi cles int o H  ybr id vehi cles.

x ci se Duty on L Ds reduced t o   per cent and s pecial D being f ully

e x empted  .

 Basi c ust oms Duty on sol ar l anter n reduced fr om 

t o   per cent.

F ull e x empt ion fr om basi c ust oms Duty t o r ud e P al m   S tear in used  in manu f act ure o f l aund ry soap .

F ull e x empt ion fr om basi c  x ci se Duty  g r anted t o 

en zyme based   pre par at ion f or 

FINANCE BUDGET 2011-12 

 AN ANALYSIS 

 ENV  I  NMENT 

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 INFRASTRUCTURE 

 P ar allel   x ci se Duty e x empt ion f or domest i c suppl i ers

 pr oducing capi t al  good s need ed f or e xpansion o f e xi st ing  

me ga or ultr a me ga  pr o jects.

F ull e x empt ion fr om basi c ust oms Duty t o bio-as phalt and  s peci  f i ed  machinery f or appl i cat ion in t he constr uct ion o f 

nat ional highwa ys.

FINANCE BUDGET 2011-12 

 AN ANALYSIS 

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FINANCE BUDGET 2011-12 

 AN ANALYSIS 

 S cope o f e x empt ions fr om basi c ust oms Duty f or wor k  o f art and  ant iqui t i ese x tend ed t o apply f or e xhibi t ion or di s pl a y in  pr i vate art  galler i es open t o t he

 g ener al  publ i c.

x empt ion fr om  Import Duty f or s pares and capi t al  good s requi red f or ship re pai r 

uni ts e x tend ed t o import b y ship owners.

oncessional basi c ust om Duty o f   per cent and  D o f   per cent avai l able

t o news paper est abl i shments f or high s peed   pr int ing   presses e x tend ed t o mai lr oom

equipment.

 J umbo r olls o f cinemat og r aphi c f i l m f ully e x empted fr om D b y  pr oviding 

 f ull e x empt ion fr om   x ci se Duty.

Out r ight concession t o f act ory-bui lt ambul ances fr om   x ci se Duty.

 Rel i ef measures pr oposed f or r aw  pi st achio , bamboo f or agar batt i  , l act ose f or t he manu f act ure o f homoeopat hi c medi cines, sani t ary napkins, bab y and  adult 

diapers.

 Pr oposals rel at ing t o  ust oms and  entr al   x ci se est imated t o result in a net 

revenue  gain o f ` 7  ,3 cr  ores.

OTHER PROPOSALS 

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