Budget Manual consolidates Union Budget procedures and roles, standardising accounting, timelines and transparency for public finance management.
The Budget Manual consolidates dispersed executive instructions into a single guidance document describing Constitutional provisions, contents of budget documents, accounting and classification systems, and the operations of the Consolidated Fund of India, the Contingency Fund of India and the Public Account of India. It delineates roles of Parliament, parliamentary committees and executive wings, and outlines the full sequence of budget formulation from the Budget Circular to Budget Day, including timelines, officer duties, security and lock-in procedures, implementation and reporting, with annexes for related subjects.

Extension of Income Tax return filing deadline: filing and tax audit submission postponed due to law-and-order disruptions.
The Central Board of Direct Taxes invoked section 119 to extend the due date for filing returns of income for the State of Jammu and Kashmir to 30th November and simultaneously extended the time for obtaining and furnishing tax audit reports under section 44AB, as administrative relief in view of law-and-order disruptions.

Rate of interest change for employee provident funds announced, altering credited returns and funding approach for the benefit year.
The Central Board of Trustees recommended increasing the rate of interest to be credited to members' EPF accounts for 2010-11 to 9.5 percent from surplus in the interest suspense account. It approved closure of inoperative accounts by ceasing interest after thirty-six months of inactivity, recommended delinking EDLI assurance benefit from PF balances and fixing it at twenty times the deceased employee's average monthly wages (subject to a maximum), initiated steps to appoint a consultant for new fund managers, discussed investment pattern and fund safety with the Ministry of Finance, and deferred review of the Employees' Pension Scheme.

Extension of ITR V filing deadline grants a final opportunity to mail verification to CPC for electronic tax returns.
Extension of the time limit is announced for filing the ITR-V verification form for electronically filed returns for assessment year 2009-10, allowing submission up to the extended deadline or within 120 days from filing, whichever is later. ITR-V must be mailed only by ordinary post or speed post to the CPC in Bengaluru; forms sent elsewhere or by other means will not be accepted. Taxpayers without CPC acknowledgement must re-mail ITR-V, since returns without CPC acknowledgement will not be processed or yield refunds.

Business or commercial licence: membership card treated as intangible asset eligible for depreciation under section 32.
The membership right in a stock exchange is a personal permission akin to a licence, granting the holder economic rights to access the market and participate in trading; by virtue of Explanation 3 it is an intangible asset and therefore a business or commercial right of similar nature that satisfies the statutory test for being a depreciable asset under the provision governing licences and like rights.

Cross-border taxation: assets located in India subject cross-border mergers to Indian income-tax jurisdiction and tax liability.
Cross-border transactions involving assets located in India are chargeable to Indian income tax, and Indian tax authorities have jurisdiction over such transactions when the relevant assets are situated within India; asset location in cross-border mergers determines taxable nexus and enables Indian tax assessment and collection.

ITR-V mailing requirement: returns filed electronically must be mailed to CPC Bengaluru to enable processing and refunds.
Extension requires taxpayers who filed unsigned electronic returns for AY 2009-10 to mail the ITR-V to the Centralized Processing Center (CPC) Bengaluru by the extended deadline or within the extended filing window; ITR-Vs are accepted only by ordinary post or speed post to the specified Post Bag address. Taxpayers who filed with local offices, did not file ITR-Vs, or did not receive CPC acknowledgement should (re)mail their ITR-V. Processing of returns and refunds depends on CPC receipt and acknowledgement of the ITR-V.

Direct tax collections rise year-on-year, corporate tax growth outpacing personal income tax in the April-August period.
Net direct tax receipts for the April-August fiscal period rose 13.91 percent to Rs.1,00,112 crore, driven by a 17.05 percent increase in Corporate Income Tax to Rs.57,750 crore and a 9.68 percent rise in Personal Income Tax to Rs.42,217 crore, with marked regional variations in collection growth across specified tax jurisdictions.

Extension of filing deadline for ITR-V permits submission until 31 December 2010 or within 120 days of upload.
Extension granted for filing ITR-Vs for electronically filed returns (without digital signature) for A.Y. 2009-10: ITR-Vs may be furnished by 31 December 2010 or within 120 days of uploading the electronic return data, whichever is later. The measure targets ITR-Vs not received at the Centralised Processing Centre or received after 31 March 2010 or filed with Assessing Officers, offering a final opportunity to comply. ITR-Vs must be sent by ordinary post or speed post to Post Bag No.1, Electronic City Post Office, Bengaluru - 560100.