Finance Minister Pranab Mukherjee has announced that Fringe Benefit Tax (FBT) has been abolished. Income Tax exemption limit Increased in union budget 2009 Watch Highlights of Union Budget 2009 related to Direct Taxation The commodity transaction tax (CTT) has also been abolished. The Goods and Services Tax (GST) will come into effect from April 01, 2010, Mukherjee said. The corporate tax also remains unchanged. He said additional revenue would be mobilised through disinvestment of government .....
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