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Old 29th February 2008, 13:57   #31
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Quote:
Originally Posted by LLL View Post
yep its a nice amount, but now which bank will lend to farmers?
Read somewhere 4% of SBI's loan-portfolio is agri loans. It seems there was a push by FM to have even the private banks lend to agri sector.
Quote:
Originally Posted by LLL View Post
And why not write off all small housing loans - like for all houses with 3bhk or less?
Nice idea . I for one, would die of jealousy, if such a thing were to happen.
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Old 29th February 2008, 13:57   #32
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Although figures will be known soon, a cut in excise duty from 16% to 12% on small cars should cause a 5-10 K reduction. Perhaps discount would go down in March then.
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Old 29th February 2008, 13:59   #33
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Quote:
Originally Posted by vasudeva View Post
Provided they make it here. AFAIK, no one is making any hybrids here either now or expected to do in the short term.
There are companies working on hybrids in India. We should see them on the road in 2 years.
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Old 29th February 2008, 14:02   #34
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Maruti dealer is saying that I should book today to get the benefit of Feb's discounts, plus new reduced pricing. If discount goes down tomorrow, I still get today's higher discount. In case, discount goes up I get that increased discount. Believable???? Is such a thing possible for the dealer to do in the first place?

Pls help with ur views urgently - in this case, I need to book today !!!!

Neeraj
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Old 29th February 2008, 14:05   #35
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Budget highlights

Service tax
- Four services brought under service tax net namely, asset management service
provided under ULIP, services provided by stock/commodity exchanges and clearing
houses; right to use goods, in cases where VAT is not payable; and customised
software, to bring it on par with packaged software and other IT services.

- Threshold limit of exemption for small service providers increased from Rs.8 lakhs
per year to Rs.10 lakh per year; about 65,000 small service providers go out of the
tax net.

Direct Taxes
- Threshold limit of exemption from personal income tax in the case of all assesses
increased to Rs.150,000. The slabs and rates of tax are :
Up to Rs.150,000 NIL
Rs.150,001 to Rs.300,000 10 per cent
Rs.300,001 to Rs.500,000 20 per cent
Rs.500,001 and above 30 per cent

- In case of a woman assessee, the threshold limit increased from Rs.145,000 to
Rs.180,000; for a senior citizens, the threshold limit increased from Rs.195,000 to
Rs.225,000.

- No change in the corporate income tax rates.

- No change in the rate of surcharge.

- Senior Citizen Saving Scheme 2004 and the Post Office Time Deposit Account
added to the basket of saving instruments under Section 80C of the Income Tax
Act.

- Additional deduction of Rs.15,000 allowed under Section 80D to an individual
paying medical insurance premium for his/her parent or parents.

CST and a Roadmap towards GST
- Central Sales Tax rate being reduced from 3 per cent to 2 per cent from
April 1, 2008.
- Roadmap for Goods and Service Tax being prepared for introduction of GST from
April 1, 2010.

http://indiabudget.nic.in/ub2008-09/bh/bh1.pdf

(Source:Government of India: Union Budget and Economic Survey (http://indiabudget.nic.in)

Last edited by nishantgandhi : 29th February 2008 at 14:14.
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Old 29th February 2008, 14:10   #36
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Quote:
Originally Posted by suman View Post
Didn't get what you meant by that. Anyway, for someone in the 30% bracket, the change in slab plus the hike in the exemption limit translates to a saving of around Rs 39,000 a year in income tax alone (plus savings in surcharge & cess where applicable)

I, for one, am hitting the nearest Pub this eveningcheers:
Ya it is a great benefit...

IT slab now is
Taxable Income =
1) < 150,000 = No Tax
2) 150,001 - 300,000 = 10% of income excess 150,000
3) 300,001 - 500,000 = 15K + 20% of income excess 300,000
4) 500,001 - above = 55K + 30% of income excess 500,000

This means, People whose taxable income is more than 5 lakhs are already 44K + cess benefit compared to present levels...Thats party time about 4K less tax / month

Abhi
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Old 29th February 2008, 14:11   #37
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There will be a reduction of 4% on small cars and 8% on sedans,full news is not out as yet.We will have a better picture by 4 pm.
ram
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Old 29th February 2008, 14:14   #38
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There is no mention of excise duty reduction on non- small cars. As you would know, small cars are 1.2L petrol, 1.5L diesel, and <4000 mm in length. For the entire auto sector, these are the excise reductions:

(a) Small cars from 16% to 12%.
(b) Hybrid cars from 24% to 14%.
(c) Electric cars from 8% to nil.
(d) Specified parts of electric cars from 16% to nil on end-use basis.
(e) Buses and other vehicle for transport of more than 13 persons from 16% to 12%, and on the chassis of such vehicles from ‘16% +Rs.10,000/-’ to ‘12% +Rs.10,000/-‘.
(f) Two-wheelers and passenger three-wheelers (upto 7 persons) from 16% to 12%.
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Old 29th February 2008, 14:15   #39
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@Mods, please merge with
http://www.team-bhp.com/forum/shifti...-wheelers.html
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Old 29th February 2008, 14:16   #40
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Quote:
Originally Posted by LLL View Post
And why not write off all small housing loans - like for all houses with 3bhk or less?
Good Suggession, I for one will gift a 5 lakh car to PC then

Abhi
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Old 29th February 2008, 14:20   #41
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Quote:
Originally Posted by vasudeva View Post
(e) Buses and other vehicle for transport of more than 13 persons from 16% to 12%, and on the chassis of such vehicles from 16% +Rs.10,000/- to 12% +Rs.10,000/-.
Most tbhpians will tell FM that tata safari can transport 13 persons...hence it is also elgible for duty reduction...
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Old 29th February 2008, 14:24   #42
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Quote:
Originally Posted by ram_hyundai View Post
There will be a reduction of 4% on small cars and 8% on sedans,full news is not out as yet.We will have a better picture by 4 pm.
ram
pls let us know whats the reduction on sx4 now? should be 50k with 8% reduction...
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Old 29th February 2008, 14:25   #43
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if personal income tax slabs can be raised to have a benefit of RS 39K is passed on to each employee earning more than 5lakh per annum why not waive farm loans of 5 to 10K or even 20 K one time?

income tax exemption is every year where as farm waiver is one time only or once in 4-5 years

in case of income tax the middle class get it easily passed on to them with out any effort. they don't have to bribe any one, the benefit is 100%

where as in case of farmers they have run around govt officers to get a certificate of small and marginal farmer to avail the benefit. spend some time with farmers in village to know how difficult it is get the so called certificate. how much time and effort he has to endure

so who got the most of the budget? middle class and industry or farmer?

farmers are the ones who are providing food to us. we may earn lakhs and crores but if farming is made unremunarative who will produce rice/wheat for us to eat? can we eat the currency?

that is why is USA farmers are provided with a subsidy of more than 70% so that they keep on doing farming. otherwise he will also jump to more lucrative sectors leaving a country to the dangers of food security issues.

don't grudge farm loan waiver. it is needed. please come to AP and see how banks are spending thousands to recover few hundred or even Rs 50 from farmers. this has lead to spate of farmers suicides.

a nationalised bank advertised in news papers that XYZ farmers is defaulter and the amount defaulted is Rs 60/ ( sixty only).

the same banks waive hundred's of crores as bad loans lent to industries. then no body cries.

i feel ( my personal opinion only) that those who cribbing about farm loan waiver are doing not for sake economy but because their share of loot is reduced
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Old 29th February 2008, 14:29   #44
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If maruti reduces the prices of Swift D , what will be the waiting period then??? if we book , may be we will get it after the next budjet???..
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Old 29th February 2008, 14:29   #45
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Dear rkg

You are absolutely right. It is required, provided it reaches those for whom the waiver is intended.
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