Multiple choice

Which of the following statement(s) is/are true about the Union Budget 2008-09?

  1. No change in corporate income tax rates
  2. Short Term Capital gain tax increase to 25%
  3. Banking Cash transaction tax withdrawn w.e.f. April 1, 2009

  1. Only 1

  2. Only 2

  3. 1 and 2 only

  4. 1 and 3 only
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

In the 2008-09 Union Budget, the government maintained corporate tax rates and abolished the Banking Cash Transaction Tax (BCTT) effective April 1, 2009. Statement 2 is incorrect as the short-term capital gains tax was not increased to 25% in that budget.

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