Budget 2009: Small business tax reforms-some ups, some downs
The Union Budget gives some small businesses the benefit of not paying advance taxes in the 2010-11 fiscal year.
Businesses with an annual turnover of less than Rs 40 lakh have the option to not maintain their books of accounts and pay a fixed income tax of 8 percent of their revenue, said the SME Times.
Other positive reforms include doing away with the fringe benefit tax, income tax surcharge and the commodity transaction tax, which could make raw materials cheaper for small business owners.
The introduction of an 8 percent excise duty on man-made fiber and yarn was a surprise hit to small businesses. However, there is an extension of the interest subvention for the textile industry has been extended to March 2010. массаж интим с выездом к клиенту
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