1. Income Tax (A.Y. 2009-10 & 2010-11)

4. 08/07/2009

9. 08/07/2009

15. Incidence of Tax Index 08/07/2009 Particulars Tax Incidence R NOR NR Income received in India by or on behalf of assessee Yes Yes Yes Income deemed to received in India by or on behalf of assessee Yes Yes Yes Income accruing or arising in India Yes Yes Yes Income deemed to accrue or arise in India Yes Yes Yes Income which accrues or arise outside India Yes No No

16. 08/07/2009

20. Contd… 08/07/2009 PERSONS TAX RATE FIRMS 30% DOMESTIC COMPANY 30% FOREIGN COMPANY 40% LOCAL AUTHORITIES 30% CO-OPERATIVE SOCIETIES Up to 10000 10000-20000 Above 20000 10% 20% 30%

21. Surcharge & Cess Index 08/07/2009 PERSON RATE OF SURCHARGE Individual / AOP / BOI / HUF / Artificial Juridical Person 10% of tax liability if Income Exceeds Rs 10 Lacs Firm 10% of tax liability, if Income exceeds Rs. 1 Crore Domestic Company 10% of tax liability, if Income exceeds Rs. 1 Crore Foreign company 2.5% of tax liability, if Income exceeds Rs. 1 Crore Co-operative Society N.A. Local Authority N.A. Education Cess and Secondary & Higher Education Cess is applicable on every person @ 2% & 1% respectively on tax liability and surcharge applicable, if any.

22. 08/07/2009

32. Contd… 08/07/2009 Name of Allowance Exemption as Specified in Rule 2BB Compensatory modified area allowance Exemption is limited to Rs.1,000 per month in some cases. Counter insurgency allowance Exemption is limited to Rs.3,900 per month in some cases. Transport allowance It is exempt up to Rs. 800 per month (Rs. 1,600 per month in the case of an employee who is blind or orthopedically handicapped) Underground allowance Exemption is limited to Rs. 800 per month. High altitude allowance It is exempt from tax up to Rs. 1,060 per month (for altitude of 9,000 to 15,000 feet) or Rs. 1,600 per month (for altitude above 15,000 feet). Highly active field area allowance It is exempt from tax up to Rs. 4,200 per month. Island duty allowance It is exempt up to Rs. 3,250 per month.

47. 08/07/2009

50. Computation of Gross Annual Value (GAV) Step 1 : Calculate Expected Rent as follows:- 08/07/2009 Particulars Amount Amount (a) Fair Rent of the House xxx (b) Municipal Value of House xxx (c) Whichever is more of (a) and (b) XXX (d) Standard Rent xxx Expected Rent [whichever is less of (c) and (d)] XXX

60. 08/07/2009

86. 08/07/2009

100. Computation of Short-term Capital Gains 08/07/2009 Particulars Amount Full Value of Consideration XXX Less: Expenses incurred wholly and exclusively for such transfer xxx Net Consideration XXX Less: Cost of Acquisition xxx Less: Cost of Improvement xxx Less: Exemption u/s 54B, 54D, 54G, 54GA xxx Taxable Short -term Capital gains XXX

101. Computation of Long-term Capital Gains 08/07/2009 Particulars Amount Full Value of Consideration XXX Less: Expenses incurred wholly and exclusively for such transfer xxx Net Consideration XXX Less: Indexed Cost of Acquisition xxx Less: Indexed Cost of Improvement xxx Less: Exemption u/s 54, 54B, 54D, 54EC, 54F, 54G, 54GA xxx Taxable Long- term Capital gains XXX

102. Indexed Cost Indexed Cost of Acquisition / Improvement Cost of acquisition / improvement x Cost inflation Index of the year of transfer Cost Inflation Index (CII) for the first year in which the asset was held by the assessee or for the year beginning on 1.4.1981, whichever is later / the year of improvement 08/07/2009 Index

103. 08/07/2009

108. 08/07/2009

118. 08/07/2009

123. Provisions relating to carry forward and setoff of losses Index 08/07/2009 Sec. Loss to be carried forward Income against which the loss can be setoff No. of years for which it can be carried forward 71B Loss from house property Income from house property 8 years from the end of the relevant A.Y. 72 Losses under ‘Profits & Gains of Business or Profession’, except speculation business loss. Profits of any Business/Profession (including speculation business profits also) 8 years from the end of the relevant A.Y. 73 Losses in speculation business. Income from speculation business 4 years from the end of the relevant A.Y. 74 Losses under the head Capital gains. Capital Gains 8 years from the end of the relevant A.Y. 74A Loss incurred in activity of owning and maintaining race horses. Income from owning and maintaining race horses 4 years from the end of the relevant A.Y.

124. 08/07/2009

126. Partially Agricultural & Partially Business Income [Rules 7, 7a, 7b And 8] 08/07/2009 INCOME BUSINESS INCOME AGRICULTURAL INCOME Growing and manufacturing tea in India 40% 60% Sale of centrifuged latex or cenex or latex based creps (such as pale latex crepe) or brown crepes (such as estate brown crepe, remilled crepe, smoked blanket crepe or flat bark crepe) or technically specified block rubbers manufactured or processed from field latex or coagulum obtained from rubber plants grown by the seller in India 35% 65% Sale of coffee grow and cured by seller 25% 75% Sale of coffee grown, cured, roasted and grounded by seller in India with or without mixing chicory or other flavoring ingredients 40% 60%

129. 08/07/2009

145. 08/07/2009

147. Due Dates 08/07/2009 Due Date Amount payble by Corporate Assessee Amount payble by Non-Corporate Assessee On or before June 15 of the previous year Up to 15 percent of advance tax payable - On or before September 15 of the previous year Up to 45 percent of advance tax payable Up to 30 percent of advance tax payable On or before December 15 of the previous year Up to 75 percent of advance tax payable Up to 60 percent of advance tax payable On or before March 15 of the previous year Up to 100 percent of advance tax payable Up to 100 percent of advance tax payable

150. 08/07/2009