Budget 2010 Flashes

Budget 2010 Flashes

12:43  Setting up of cold storages exempted from service tax: Ernst & Young

12:42  Simplified corp taxation for cos upto 60 lacs t/o: BMR

12:41  Presumptive taxation increased on small cos: BMR

12:41  Hike in CET for refined pdts negative for OMCs

12:40  Ad-valorem excise duty on MUVs increased: Ernst & Young

12:39  Increase in excise duty on non-tobacco products: BMR

12:39  Redn in personal tax rate saving of Rs.50k upto 8l Incom: Ernst & Young

12:38  Excise duty on Cig increased; quantum will impact ITC

12:37  Excise duty on tobacco -ve for ITC: Ernst & Young

12:37  No CG tax on conversion to LLP'S: BMR

12:36  Basic customs duty on crude petroleum restored to 5%: Ernst & Young

12:36  Customs duty of 5% on crude negative for OMCs

12:35  Excise on SUVs up to 22% from 20% - ve for M&M, Tamo

12:34  Excise duty on large cars increase -ve for Tata Motors, Ashok Ley: Ernst & Young

12:34  Peak excise duty increased; -ve for Auto, Steel, Cement Co

12:33  Stimulus package partially rolled back: Ernst & Young

12:33  Reduction in Personal Tax rate saving of Rs50,000 upto Rs 8 lakh income

12:32  Excise duty hiked to 10% expected rise

12:32  Roll back in central excise from 8% to 10%: Factored in

12:32  Peak excise duty rate increased from 8% to 10%: Ernst & Young

12:31  Direct tax revenue proposals to lead to Rs 26000 cr loss: BMR

12:31  Red of Corp Tax Surcharge to Red Corp Tax Rate By 1%: Ernst & Young

12:30  Rs 26000 cr revenue loss on account direct tax proposals

12:29  Low tax, high purchasing power volume boost for FMCG cos

12:29  Conversion of partnership to Llp encouraged: Ernst & Young

12:28  Int on TDS not deposited increased to 18% pa: Ernst & Young

12:27  Weighted Ded on R&d +ve for Tata Motors, Ashok Ley: Ernst & Young

12:26  Tax audit limit increased to 60 lakhs for business: Ernst & Young

12:26  Pharma cos impact neutral Mat vs Weighted Deduction: Ernst & Young

12:25  MAT 18% on booked profits not assets should be positive

12:24  Tax holiday for Hotel ind; +ve for Indian Hotels, EIH: Ernst & Young

12:23  RIL, FMCG cos impacted by MAT increase

12:22  Weighted deduction on R&D +ve for Pharma and Auto: Ernst & Young

12:21  Surcharge cut; +ve for India Inc

12:21  MAT increased to harm IT and infrastructure companies: Ernst & Young

12:21  Surcharge reduced to 7.5% from 10%: BMR

12:19  MAT increased to 18%; -ve for RIL, HUL, Bharti, Rcom

12:19  Increase MAT from 15% to18% on book profits: BMR

12:19  Infra bond tax deduction +ve for IDFC, PFC

12:19  Corporate surcharge reduced to 7.5% but MAT increased: Ernst & Young

12:18  Surcharge reduced from 10% to 7.5%: Ernst & Young

12:18  10% tax on annual income from Rs 1.6 lakh to 5 lakh: BMR

12:18  AddTax deduction of Rs 20,000 on inv in infra bonds

12:17  Tax slabs increased will enhance spending: Ernst & Young

12:17  Increase in take home for individuals enhance consumption: Ernst & Young

12:16  No tax on annual income upto Rs 1.6 lacs: BMR

12:16  Tax slabs rationalised for individuals: Ernst & Young

12:16  Scope of Settlement Commission for excise & customs expanded: Ernst & Young

12:15  New version of Saral ready for salaried employees: BMR

12:15  Settlement Commission to cover raid cases: BMR

12:14  Return filing procedure to be simplified: Ernst & Young

12:14  Simplification of tax compliance: Ernst & Young

12:13  Saral 2 form to be introduced in a simplified version: Ernst & Young

12:13  Increased computerization of central and state tax administration: Ernst & Young

12:12  Pilot projects for tax grievances extended to four cities: BMR

12:11  Automation to reduce physical interface with department: Ernst & Young

12:10  Technology driven tax administrative reforms: Ernst & Young

12:10  FY11 borrowing lower than est +vs for PSU banks

12:09  Subsidy delivery in cash to oil & fertiliser companies

12:08  Extending govt fert subsidy in cash: + ve for fert cos

12:08  Extending govt fert subsidy in cash: + ve for fert cos

12:08  Revised fiscal deficit for 2009-2010 at 6.9%

12:08  All subsidy in cash

12:07  Gross non- tax receipts at Rs 1,48,118cr: BMR

12:07  Deficit 4.3% for FY12

12:05  Gross tax receipts at Rs 7,46, 651cr: BMR

12:04  New technology platforms for new legislations positive for IT sector: Ernst & Young

12:03  Rs 60000cr defense capex :BEL, M&M, L&T, Nelco

12:02  UID scheme Budget Rs 1900 crore IT companies, Bartronics in fosus

12:02  Higher defence allocation +ve for L&T: BMR

12:01  Smart card extension positive for Glodyne Tech: Ernst & Young

12:00  Banking license for NBFCs, private players positive for IFCI, Reliance Capital

12:00  UID commitment to be met in 2010: + ve for Bartronics, TCS

11:59  RBI licenses to private players +ve for Reliance Capital: BMR

11:54  Smart Card extended to NREGA; focus Bartronics

11:50  Slum Free India at the earliest: +ve for HDIL (SRA)

11:50  Extension of interest subvention to March: Parsvanath, Sobha

11:49  Focus on slum redevelopment positive for real estate: Ernst & Young

11:49  Interest subvention for low cost housing: HDIL, Parsvanath

11:48  Increase allocation for urban development by more than 75%

11:47  Higher outlay for educations; +ve for Educomp, Edserv, Core Proj

11:47  Rs 61, 000 crore rural programmes positive for Hero Honda, PNB

11:46  Rs 66,100cr for rural devpt this year: BMR

11:43  Education outlay increased by Rs 3236: Educomp, Everonn

11:43  3675 cr grant on education to states : +ve for Educomp, Everonn

11:41  Rs 200 cr for Tirupur, TN Textile facility: BMR

11:40  National clean energy fund; +ve for Suzlon, JP Hydro

11:40  20000 MW solar power +ve for Monnet Ispat

11:38  Setting up of Coal Regulatory Authority positive for cement, steel companies

11:38  Increased refinancing by IIFCL;+ve for infra companies

11:38  Increased refinancing by IIFCL;+ve for infra companies

11:37  Solar energy impetus Moser Baer in focus

11:37  Double allocation to power;+ve for NTPC, Rel Power, Adani Po

11:37  Competitive bidding process for captive mining blocks: BMR

11:37  Higher power allocation to benefit power & dist companies: Ernst & Young

11:36  13% higher road allocation;+ve for Punj, Gammon, Nagarjuna

11:35  Intro of new legislations administrative reforms is key: Ernst & Young

11:35  13% higher road allocation;+ve for IVRCL, HCC, L&T

11:34  Increased allocation for road Gammon, IRB, j kumar +ve

11:34  To raise allocation for road transport by 13%

11:33  Provided Rs 1,73,552 crore for infrastructure development

11:33  Easy access for funds to marine and cold storage facili: Ernst & Young

11:32  ECB's will be available for food processing sector

11:31  Addtional banking license IDFC and IFCI in consideration

11:31  Repayment Extension For FarmerTo June 2010: +ve Bob Pnb

11:30  SEZ's recorded 127% YoY export growth in last 3 qtrs: BMR

11:29  Rs 300cr for agriculture impetus Jain Irrigation, Advanta India

11:29  Recapitalisation of banks +ve Uco Bank, CBI

11:28  Interest subvention extended to March 11

11:28  Textiles, Gems and Jewellery benefit from Int Sub Extension

11:27  Recapitalization of banks positive for Syndicate Bank, Dena Bank

11:27  NBFC could be considered for banking licenses: IDFC

11:26  Banking sectors reforms to be introduced: Ernst & Young

11:24  RBI considering addl licenses to private players: BMR

11:23  FDI policies to be consolidated - positive step: Ernst & Young

11:23  Aims to make FDI policy userfriendly: BMR

11:21  Oil Ministry to take decision on Parikh Report

11:20  Deferment of GST negative for corporates in FY10-11: Ernst & Young

11:18  FM reaffirms commitment to GST; likely roll-out in April 2011: Ernst & Young

11:17  Direct tax code to be implemented from April 1, 2011: Ernst & Young

11:17  Direct tax code to be implemented from April 1, 2011: Ernst & Young

11:16  Budget has given indication that better targeting of subsidies will be the key objective

11:15  Focus on development of infrastructure in rural and urban areas likely

11:12  Budget realises the need to strengthen food security

11:11  State of the economy better