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...
1. No increase in threshold limit of Rs 2,50,000. 2. Wrong perception about no income tax upto Rs. 5 lakh to all tax payer, income tax is still payable @ 5% on income upto Rs. 5 lakh 3. Rebate under section 87A increased from Rs. 2,500 to Rs. 12,500. And eligibility of total income not […]
Finance Bill,2019 has proposed amendments to Standard deduction, Notional Income of two self-occupied property, Interest on capital borrowed for acquisition / construction of two self occupied House properties, Exemption under Section 54, Interest on capital borrowed for acquisition / construction of two self occupied House properties, Tax Rebate under Section 87A for Taxable Income up […]
Rationalization of customs duty and procedures to give boost to ‘Make in India’ initiative RFID technology to be used to improve export logistics The Government has undertaken rationalization of customs duties and procedures to promote the “Make in India” initiative. While presenting the Interim Budget 2019-20 in Parliament today, the Union Minister for Finance, Corporate […]
GST, the biggest taxation reform, led to increase in tax base, higher collections and ease of trade Rates continuously reduced providing relief of about r. 80,000 crore annually to consumers Most items of daily use of poor and middle class now in the 0% or 5% tax slab Average GST collection in the current financial […]
FM: India now 6th largest economy in the world with high growth Fiscal deficit down to 3.4%; average inflation 4.6% FDI of USD 239 BN in five years Banks recover Rs 3 Lakh Crores in outstanding loans Under the leadership of the Prime Minister, Shri Narendra Modi, the country has witnessed its best phase of […]
Tax collections increased from Rs 6.38 Lakh Crore in year 2013-14 to almost Rs 12 Lakh Crore this year 80% growth in tax base; number of returns filed increased from 3.79 crore to 6.85 Crore Within the next 2 years, almost all verification and assessment of returns selected for scrutiny to be done electronically The […]
Government Unveils vision for the Next Decade The Government has unveiled its vision for the next decade, listing thereby ten most important dimensions in 2030. “With this comprehensive ten-dimensional Vision, we will create an India where poverty, malnutrition, littering and illiteracy would be a matter of the past. India would be a modern, technology driven, […]
Government takes several measures to strenghthen MSMEs Gem platform extended to all CPSES Government undertakings to procure a fixed proportion of materials from women owned SMEs The Government has taken several measures to strengthen the Medium Small and Micro Enterprises (MSMEs). While a Scheme of sanctioning loans upto Rs. 1 crore in 59 minutes has […]
Rs. 1330 Crore provided in the Interim Budget 2019-20 for the Mission for Protection and Empowerment for Women An amount of Rs.1330 Crore has been provided in the Interim Budget for 2019-20 for the Mission for Protection and Empowerment for Women. This is an increase of Rs. 174 Crore over the Revised Estimates of 2018-19 […]
TDS THRESHHOLD INCREASED While presenting interim Budget 2019-20 FM has raised TDS threshold on interest earned on bank/post office deposits. In Tax Deduction at Source (TDS) threshold on interest earned on bank/post office deposits has been proposed to be raised from Rs.10,000 to Rs.40,000. Shri Goyal said, “This will benefit small depositors and non-working spouses”. […]
