BUDGET 2011-12 : IT SECTOR HIGHLIGHTS

Given are the Union Budget 2011-12 highlights concerning IT Industry and employees.

· Unambiguous definitions of input services proposed + Service taxpayers with turnover of Rs 60 lakh exempted from Audit + Penal provisions in Service tax streamlined
· Service tax levied on hotel accommodation above Rs 1000 per day with 50% abatement + AC Restaurants providing liquor + diagnostic labs + air travel (Rate hiked by Rs 50) + legal services provided by individuals to business
· Service tax – Cenvat Credit rules to be rationalised
· Excise proposals to generate Rs 7000 Cr revenue
· Jumbo rolls import granted exemption
· MAT rate hiked from 18% to 18.5%
· Foreign dividend in hands of resident Indians to attract 15% tax
· Surcharge on domestic companies reduced to 5%; MAT levied on developers as well as units of SEZ
· Tax exemption limit raised to Rs 1.8 lakh; Sr Citizens’ age reduced from 65 to 60; New category of Sr citizens created for 80 above – Rs five lakh exemption limit fixed
· Service tax refund to exporters and SEZ Units: A new scheme to be notified soon
· DTC Bill to be finalized soon + Constitutional Amendment Bill for GST to be tabled in Parliament during Budget Soon + Pilot GST Portal to be put online by June

– Mr. Sharad Poddar
Director Finance
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Bookmark webpages through Delicious.com

On day to day basis we feel the need to store so many interesting
websites/web pages as book marks for future reference. We do it by saving it
to our browsers, but book marks stored on a browser will be lost if our
system gets formatted or we are working on some other system than
ours.Delicious.com can be used in that case.

Delicious.com is a social bookmarking web service for storing, sharing, and
discovering web bookmarks.

Delicious is a social bookmarking website – the primary use of Delicious is
to store your bookmarks online, which allows you to access the same
bookmarks from any computer and add bookmarks from anywhere, too. On
Delicious, you can use tags to organize and remember your bookmarks, which
is a much more flexible system than folders.

Screenshot of Delicious.com

You can also use del.icio.us to see the interesting links that your friends
and other people bookmark, and share links with them in return. You can even
browse and search Delicious to discover the cool and useful bookmarks that
everyone else has saved – which is made easy with tags.

It uses a non-hierarchical classification system in which users can tag each
of their bookmarks with freely chosen terms. A combined view of everyone’s
bookmarks with a given tag is available; for instance, the URL
“http://www.delicious.com/tag/android” displays all of the most recent links
tagged “andriod”. Its collective nature makes it possible to view bookmarks
added by other users.

Delicious has a “hotlist” on its home page and “popular” and “recent” pages,
which help to make the website a showcase of Internet trends.

Delicious is one of the most popular social bookmarking services due to many
features , including the website’s simple interface, human-readable URL
scheme, a novel domain name.

All bookmarks posted to Delicious are publicly viewable by default, although
users can mark specific bookmarks as private, and imported bookmarks are
private by default. The public aspect is emphasized; the site is not focused
on storing private (“not shared”) bookmark collections.

– Komal Arora
Manager – Technologies
Compare Infobase Limited