India Budget 2011 Income Tax Slabs

• Standard rate of excise duty on all non-petroleum products to be maintained at 10%.

 

• Minimum Alternate Tax (MAT) rate to be increased from 18% to 18.5%.

• Rate of service tax retained at 10%, but coverage extended.

• Disinvestment receipts for 2011-12 estimated at Rs 40,000 cr.

• Government to move towards direct transfer of cash subsidy for kerosene and fertilizers.

• Foreign investors who meet Know Your Customers (KYC) norms to be allowed to invest in

Indian equity mutual funds.

• FII limit for investment in corporate bond with residual maturity of over five years issued by

companies in infrastructure sector, is raised by US$ 20 billion to US$ 25 billion

• Rs 6,000 cr allotted to public sector banks to maintain a Tier 1 CRAR of 8% during 2011-12

• Direct Tax Code to be implemented by April 1, 2012

• Allocation to infrastructure at Rs. 2,14,000 cr for 2011-12, 23.2% higher over previous year

 

 

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