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FBT gone? Your take-home pay may be less now!
Under the 2009-10 Budget, FBT has been abolished. While this is going to be received very favourably by the finance departments at companies, the impact on your personal finances might not be the most optimal for you.
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The new tax slabs
With basic exemption for individual tax payers increased by Rs 10,000 for general tax payers and women and Rs 15,000 for senior citizens (i.e. 65 years and above), the tax slabs will stand as follows:
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How Budget has changed your personal taxation
As far as personal taxation goes, there were positive changes overall, even if the magnitude might not have been as high as expected. Here are 7 changes that you will be affected by:
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Highlights of the Interim Budget 2009-10
Presenting the interim Budget for 2009-10 in Lok Sabha, acting Finance Minister Pranab Mukherjee claimed in Parliament on Monday that every effort has been made to fulfil promises made to the common man.
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Employers may restructure your pay
The removal of the Fringe Benefit Tax (FBT) proposed in the Budget is being regarded as a welcome move for companies and may also provide them scope to restructure employee remuneration, HR experts said.
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Interviews: How to negotiate your salary
It's good idea to avoid salary discussions before the intent of hiring you has been clearly communicated.
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Monsoon recipes: Moong Parathas & Dahi Vada
Three scrumptious rainy-day recipes.
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Know your insurance rights as employees
The Workmen's Compensation Act provides for insurance and compensation that an employer has to give to employees in case of an injury or death.
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Sex queries: 'What's the normal duration of sex?'
Andrologist and microsurgeon Dr Sudhakar Krishnamurti responds to rediff readers' sexual queries.
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Budget gobbledygook, simplified!
Here is a financial glossary of words and phrases linked to the budgetary exercise to help you manoeuvre your way through the maze that is the Budget.
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