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Swot Analsis For Levis

BUDGET 2007-08

Finance Minister P Chidambaram presented the Union Budget for 2007-08 in Parliament on Wednesday.
• While Chidambaram kept income tax limit unchanged, he increased the threshold limit by Rs 10,000 giving every assessee a relief of Rs 1,000.
• Deduction in respect of medical insurance under Section 80 (D) increased to Rs 15,000 and Rs 20,000 for senior citizens.
• Exemption limit for women was increased to Rs 145,000 and for senior citizens to Rs 195,000.
• Dividend distribution tax raised from 12.5 to 15 per cent.
• ESOPs to be brought under FBT.
• Expenditure on samples and free distribution items to be exempted from fringe benefit tax.
• Additional revenue from direct taxes to yield Rs 3000 crore and indirect taxes revenue neutral.
• Tax exemption on aviation turbine fuel sold to turbo prop aircraft extended to all small aircraft less than 40,000 kg.
• Withdrawals by central and state governments exempted from Banking Cash Transaction Tax. The limit for individuals and HUF raised from Rs 25,000 to Rs 50,000.
• Two lakh people to benefit out of service tax exemption. Govt to lose Rs 800 crore as a result.
• Service tax on Residents Welfare Associations whose members contribute more than Rs 3,000.
• Surcharge on Corporate income tax on companies below Rs one crore removed.
• Tax free bonds to be issued by state-owned urban local bodies.
• Five year tax holiday for two, three, four star hotels and convention centres with a seating capacity of 3,000 in NCT of Delhi, Gurgaon, Ghaziabad, Faridabad and Gautam
• Minimum Alternate Tax being extended.
• Benefits of investment in venture capital funds confined to IT, bio-technology, nano-technology, seed research, dairy among some others.
• Excise duty on cement reduced from Rs.400 per tonne to Rs.350 per tonne for cement bags sold at Rs.190 per bag at retail market. Those sold above Rs.190 will attract excise duty of...