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India to become a 3 trillion Dollar Economy this year and a 5 trillion Dollar Economy by 2024-25 India requires Investments averaging Rs. 20 lakh crores every year Gone are the days of policy paralysi...

The Union Minster of Finance and Corporate Affairs, Nirmala Sitharaman said that the Government proposes to start a channel within the DD bouquet of channels exclusively for start-ups.Presenting the U...

Ministry of FinancePolicy Measures to promote Growth and Employment Generation in Indian EconomyPosted On: 05 JUL 2019 1:50 PM by PIB DelhiThe Union Budget 2019-20 presented today by Union Minister of...

Union Budget envisions India as a global hub for manufacturing electric vehicles Says inclusion of solar storage batteries and charging infrastructure in the fame scheme will Boost production Governme...

Government will work with regulators RBI/SEBI to enable stock exchanges to allow AA rated bonds as collateralsA number of measures to further deepen bond markets have been proposed by the Union Minist...

General Economy1. Rural Economy/ Agriculture and FisheriesGovt to invest widely in agriculture infrastructureEvery single rural family, except those who are unwilling to take the connection will have...

Income Tax1. No change in personal Income Tax Rates.2. Home Loan Interest on Self Occupied Property increased from Rs. 2 Lacs to Rs. 3.5 Lacs for loan taken upto 31st March 2020. The Finance Minister...

Part A: Indirect TaxA simplified single monthly return for taxpayers with an annual turnover of less than Rs 5 crore to file only quarterly returns;Fully automated GST Refund Module is proposed to be...

1. TDS on payment by Individual/HUF to contractors and professionalsSection 194M levy of Tax Deduction at Source (TDS) at the rate of five per cent. on account of contractual work or professional fees...

1) Interest for delay in payment to be made only on the tax to be paid in Cashi. In case of delay in filing of returns, it is enough to pay the interest on the tax paid using the balance of cash ledge...

The proposed amendments by Union Budget 2019 can broadly be classified into two categories:(i) Tax Incentives Measures aimed at Encouraging Voluntary Compliance by Taxpayers;(ii) Measures aimed at wid...

Notes on clausesIncome-taxClause 2, read with the First Schedule to the Bill, specifies the rates at which income-tax is to be levied on income chargeable to tax for the assessment year 2018-2019. Fur...

Income Tax Highlights of Budget 20191. No change in Income Tax in case of income up to Rs 2 crores.2. Income Tax return can be filed using either Aadhar Number or PAN No.3. Surcharge –√ Taxable income...

INDIRECT TAXES 1. Benefiting Domestic Industries: Custom duty on imports of many products have been increased such as Automobile parts, Electronic & electrical equipment etc. This will give boost to t...

Vision for $5 trillion economy driven by investmentTransforming rural livesNew Jal Shakti Mantralaya to ensure Har Ghar JalEnhancing ease of direct and indirect taxationStrengthening connectivity Infr...

Taxes: No change in personal income tax ratesIncrease in surcharge on super rich: 3% surcharge for Rs 2 crore income; 7% on Rs 5 crore and aboveGovernment hike custom duty on fuel by 1 rupee, gold and...

Direct Tax> No income tax, if the annual total income is less than 5 lakhs.> Increase in surcharge for individuals having taxable income from Rs.2 crore to Rs.5 crore and above Rs.5 crore.> Corporate...