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of <h1>Finance Bill 2010: Tax Relief, Simplified Compliance, LLP Conversions, R&D Incentives, and Revised TDS Provisions</h1> The Finance Bill, 2010 introduces amendments to the Income-tax Act aimed at reducing tax burdens, simplifying compliance, and promoting economic growth. Key proposals include widening tax slabs for individuals, enabling small companies to convert to LLPs without capital gains tax, and increasing turnover limits for mandatory audits. The Bill also incentivizes R&D investments, infrastructure savings, and streamlines TDS provisions. Amendments address the taxation of non-resident income, SEZ units, and LLP conversions. Additionally, it proposes changes to deductions for infrastructure bonds, health schemes, and housing projects, while enhancing MAT rates and centralizing return processing. The Bill also revises TDS thresholds and extends the Settlement Commission's scope and timelines.
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