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1. Last date of filing the belated return is 31st March 2008 and beyond which the return would attract a penalty of Rs. 5,000/-

2. For the Assessment Year 2008-09 last date for filing the return of Income is 30th September for the assessee whose accounts are audited or the assessee is a Company. In other cases 31st July.

3. Income Tax Rate for the Assessment Year 2008-09 (For Individual Man and HUF) * 1.1 Lakh to 1.5 : 10% * 1.5 to 2.5 : 20% * 2.5 to above : 30% Except (For Individual Woman) * 1.45 to 1.5 : 10% (For Senior Citizen) * 1.95 to 2.5 : 20% + Education Cess 2% + S.H.E.C 1% (Surcharge 10% if income is more than 1 crore)

4. Firms and Domestic Company : 30% + Education Cess 2% + S.H.E.C 1% (Surcharge 10% if income is more than 1 crore)

5. Banking Cash Transaction Tax has been withdrawn after 31st March 2009.

6. Interest on borrowed capital paid during the previous year for a residential house is deductible upto Rs. 1,50,000 ( One Lakh Fifty Thousand Only ).

Wealth Tax
» 1% of the amount by which net wealth exceeds Rs. 15,00,000/-.

Gift Tax
» No tax if gift is upto Rs. 50,000/- from any person.

Service Tax
» Upto Rs. 10 Lakhs there is no service tax liability.

» The annual turnover limit for obtaining registration has been increased from 7 lakh to 9 lakh w.e.f. 1st April, 2008.

Sales Tax
» C.S.T. Reduced to 2% from 3% w.e.f. Ist June, 2008

Direct Taxes
» Short-term capital gains tax hiked to 15% o Securities Transactions Tax unchanged.

» Threshold exemption limit increased from 1,10,000 to 1,50,000 o Exemption limit for women increased to 1,80,000 o Exemption limit for senior citizens up from 1,95,000 to 2,25,000. New Tax Slabs for Assessment Year 2009-10.

» 1.5 lakh to 3 lakh: 10% o 3 lakh to 5 lakh: 20% o 5 lakh and above: 30% Indirect Taxes.

Marathon Finlease Limited (Non Banking Finance Company) was established in 1995. Marathon Finlease Limited focussed on providing finance to those client who are honest, reliable and have the goodwill in there specific industry. Our finance system is based on low interest rates, tax effective structures with minimum conditions and a high level of service. We believe in developing long term relationships with individuals and companies and provide the services to serve the needs of persons who require the funds. Marathon Finlease Ltd.,a non-banking finance company is the company of "B Category" which can provide the loans and make investments. The loans can be given to individuals and non-individuals and investment can be made in the Companies and other movable and immovable assets.

As on March 31st 2008, In the company Share Capital and Reserve and Surplus are more than Rs.3.50 crores out of which the company has made the investment in securities around Rs.2.00 crores and balance amount has been given as loans and advances to individuals and companies.

About Marathon Finlease Limited (NBFC)