https://www.taxtmi.com/forum/issue?id=2842 The Budget announces enactment of a Direct Tax Code effective April 1, 2012 and a constitutional amendment to introduce a national goods and services tax, while raising the basic income tax exemption and altering senior citizen tax treatment; it reduces corporate surcharge and proposes tax-free bonds. It further liberalises foreign investment into mutual funds and corporate bonds under conditions, contemplates additional private banking licences, and provides targeted capital and refinancing support for banks, rural credit, microfinance and MSME lending. en-us Mon, 28 Feb 2011 09:20:56 +0530 Thu, 23 Jan 2025 15:58:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=2842 The Budget announces enactment of a Direct Tax Code effective April 1, 2012 and a constitutional amendment to introduce a national goods and services tax, while raising the basic income tax exemption and altering senior citizen tax treatment; it reduces corporate surcharge and proposes tax-free bonds. It further liberalises foreign investment into mutual funds and corporate bonds under conditions, contemplates additional private banking licences, and provides targeted capital and refinancing support for banks, rural credit, microfinance and MSME lending. Discussion-Forum Indian Laws Mon, 28 Feb 2011 09:20:56 +0530 https://www.taxtmi.com/forum/issue?id=2842