The Finance Bill has proposed some amendments in Budget 2010-11 to provide marginal tax concessions to some sectors.
These include:
Healthcare: If a hospital with at least 100 beds is being built in a city, it can avail of direct tax benefits. This benefit was earlier restricted to metropolitans.
Limited Liability Partnerships: When a company is converted into an LLP, the transfer of shares will be tax-exempt to retain tax neutrality.
Housing: The Budget had proposed a service tax of 10.3 per cent on 33 per cent of the value of property being constructed. This has now been lowered to 25 per cent.
Aviation: Service tax on air travel has been retained, but it will not be levied on a percentage basis. The maximum tax on domestic air tickets will be limited to Rs 100, and in the case of international air travel, the ceiling will be Rs 500.
