Income Tax : 32 Amendments relating to Assessment Year 2020-21 (Finance Act 2019) alongwith Section 111A, 112, 112A, 115JB, 115JC, 115BAA and 1...
Income Tax : FINANCE ACT 2019- AMENDMENTS (Applicable for AY 2020-21 i.e FY 2019-20) Some important amendments made by Finance Act 2019 to be n...
Income Tax : What is Section 194M, Reason for the introduction of Section 194M, What is the meaning of ‘work’, ‘contract’, and ‘profe...
Excise Duty : Who is eligible to file declaration under SABKA VISHWAS (LEGACY DISPUTE RESOLUTION) SCHEME, 2019? Any person falling under the fol...
Excise Duty : Dispute Resolution scheme came by Finance (No. 2) Act ‘2019 to give major relief to the taxpayers having unpaid outstanding ...
Excise Duty : Free Updated E-Book on Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 as on October 09, 2019 by Mr. Bimal Jain In the Unio...
Excise Duty : Sabka Vishwas – Legacy Dispute Resolution Scheme notified ; to be operationalized from 1st September 2019 Government expects...
Income Tax : DIRECT TAXES THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA NEW DELHI POST-BUDGET MEMORANDUM – 2019 A. INTRODUCTION 1.0 The Cou...
Income Tax : List No. 3′ LOK SABHA ——– FINANCE (NO.2) BILL, 2019 [As introduced in Lok Sabha] Notice of Amendments S.No...
CA, CS, CMA : As the Announcement under UNION BUDGET 2019 had proposed a new section 194 M of the Income Tax Act,1961, which requires an Individ...
Excise Duty : Only the persons who are eligible in terms of Section 125 can file a declaration under the Scheme. The eligibility conditions are ...
Income Tax : Taxation Laws (Amendment) Ordinance, 2019 amends Section 92BA, section 115BA Section 115JB, Section 115QA and Finance (No.2) Act, ...
Excise Duty : As you may be aware. the `Sabka Vishwas Legacy Dispute Resolution Scheme’ will come into effect on 1st September 2019. There...
Excise Duty : Circular No. 1071/4/2019-Central Excise.8 F. No. 267/78/2019/CX-8-Pt.III Government of India Ministry of Finance Department of Rev...
Income Tax : Government hereby appoints the 9th day of August, 2019, as the date on which the provisions of Part I, IV, VI & VII of Chapter...
Common man’s expectations form the Finance Minister. The budget will be presented on 5th July by the first full time woman finance minister. As a writer on income tax matters, I wish to pen down expectation of common tax payers from her. Changes in the tax rates The finance minister should retain the initial income […]
It is expected that FM will announce a number of big decisions considering the focus of Interim budget on small taxpayers. The Government could throw several surprises to please the biggest drivers of economy which are middle class citizens and salaries class taxpayers. Their expectations from Full Budget 2019 are elaborated in following paragraphs.
We are left with just a few days for first full budget for the Financial Year 2019-20. From average taxpayer to tax experts, all eyes are transfixed on the Union Budget 2019 which will be presented on July 5, 2019 by the Finance Minister, Smt. Nirmala Sitharaman. In recent years, India has witnessed huge surge […]
While the Interim Budget did not have an expanded section for tax proposals, there are increasing expectations from this full Budget. As the industry eagerly awaits Union Budget 2019, we list down expectations, which are imperative from business restructuring perspective:
Union Budget 2019 – New Finance Minister Smt. Nirmala Sitharaman’s first budget after the huge and unprecedented electoral win of Sh. Narendra Modi Government has the backing of a mammoth public mandate and as such is expected to be a reform oriented budget and not a populist one. However, along with the bold and reform […]
As per the existing provisions an Individual tax payer who is resident under the tax laws is entitled to a rebate of upto Rs. 12,500/- provided his total taxable income does not exceed Rs. 5 lakhs for the year after all the available deductions and exemptions.
Advocate Sameer Bhatia Introduction The Union Budget, 2019 catering to both direct and indirect tax avenues will be tabled before the Parliament by the Hon’ble Finance Minister Smt.Nirmala Sitharaman as on 05th July, 2019. Since, with the passage of time, the parent legislation under the direct taxes i.e. the Income Tax Act has acquired a […]
EXPECTATIONS FROM FINAL UNION BUDGET 2019 TO SMALL INDUSTRY & COMMON MAN The Union Budget for 2019-20 will be presented in the Lok Sabha on Friday (5th July, 2019) at 11.00 am by newly-appointed Finance Minister Nirmala Sitharman. Expectations from Union Budget 2019 are as below:- A. Goods & Service Tax (Goods & Simple tax) […]
It is understood that the Union Budget, 2019 is likely to be tabled in the Parliament on 5th July, 2019 by your goodself, the prestigious Income Tax Bar, Jalandhar would like to give few recommendations/suggestions by way of Memorandum as called for by your office for considering them while framing and tabling the budget in the Lok Sabha.
I want The Hon. Finance Minister to consider my suggestion on the above subject. Surcharge @10% of Income tax is levied when taxable income exceeds Rs. 50 lacs and upto 1 crore. Income tax for Rs.50 lacs works out to Rs. 1312500/-.
