CII, Tiruchi Zone analyses Union Budget 2010
TIRUCHI: Refund of income-tax to assesses for the period ending 2008-09 will be effected by April, said R. K. Kakkar, Commissioner of Income-Tax, Tiruchi.
Speaking at a meeting on ‘Analysis of Union Budget 2010' organised by Confederation of Indian Industries, Tiruchi Zone, here on Wednesday, Mr. Kakkar said that the Income-Tax Department has made all arrangements for refund of income-tax due till 2008-09. Any assesses not getting the refund due by the end of April, could contact him or his office for immediate action, he said.
On the budget proposals for 2010-11, Mr. Kakkar said that the widening of the tax slab would benefit the salaried persons in a big way. It also encouraged savings through investment on long-term infrastructure bonds. Promotion of research and development would enhance competitiveness of our country's economy in the global scenario, he added.
S. Jaikumar, an advocate, said that the introduction of service taxes would evoke a mixed result.
While the tax plan on cultural or commercial events, involving huge sum of money for the organisers or sponsors, would bring adequate revenue, the proposed tax on domestic air travel would cripple the domestic air services which were already incurring losses.
G. Rajendran, Superintendent of Customs, said that the Tiruchi air-port should be developed into a full-fledged air-cargo complex with additional infrastructure.
P. Kalaiazhagan and V. Sathiyanarayanan, both Superintendents of Central Excise and Leo Ananth J., Chairman of Confederation of Indian Industries, Tiruchi Zone, spoke.