Kerala Finance Minister T.M. Thomas Isaac will present the Kerala State Budget for financial year 2011-2012 in the Legislative Assembly on Thursday, 10 February 2011. And this will be The last budget of the current VS Achuthanandan government is being presented by finance minister Dr. Thomas ssac at the Kerala State.
Here are some TAX Highlight's of Kerala for the year 2011 - 2012.
The 2011 Kerala State Budget, also proposed a special package for improving roads and building new links throughout the state, where polls are due in May. The Kerala 2011 Budget made special provisions for improving amenities in five major cities, including the state capital.
Tax on beer and wine reduced by 10 percent.
Tax on liquor other types of liquor increased by 10 percent.
Stamp duty registration of property sales reduced on notified fair value of land. Surcharge in this regard stands abolished.
The effective rate of stamp duty, surcharge and registration fee is down to 11 per in City Corporation areas, 10 percent in municipal areas and 9 percent in panchayat areas.
Direct to Home services will be taxed under the luxury tax bracket by one percent on gross charges.
Cable television operators with less than 5000 connections will be exempt from luxury tax.
8 percent increase in life time tax on motor cars and omni buses with engine capacity above 1500cc
Autorickshaws can pay vehicle tax on lump-sum for five years. The rate is Rs. 2000. One-shot settlement will be extended to payment of motor vehicle arrears too.
Luxury tax on hotel rooms reduced by 2.5 percentage points, new rates are no 7.5 percent and 12.5 percent.
VAT on sugar and textiles to remain the same. Imported sugar will be exempt from tax.
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