Happy With...
- Corporates tax surcharge helved to 7.5%.
- Bonanza for infrastructure and textiles.
- Long - term capital gains tax for domestic companies cut by 10%.
- Customs duty cut on many items like chemicals, plastic, electronics, medicines, metals, telecom equipment.
- Non - voting share issue up to 25% of capital allowed.
- Flls allowed to invest in unlisted companies.
- Tax holiday for investment in irrigation,sanitation and water supply.
Unhappy With...
- Minimum alterate tax on zero - tax companies,power and infrastructure exempt.
- Services tax extended to advertising radio - paging and courier services.
- Unused commercial property to be subject to wealth tax.
- Limit of Fll investment ina single company raised from 5% to 10%.
- No lowering of peak customs duty.
- Opening up of insurance postponed.
- 2% special levy on all imports.
- Dilution of exemption for export income.
