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Slab & Deductions under Income Tax AY 2020-21
Summary of Slab & Deductions under Income Tax AY 2020-21 IN THE PREVIOUS ARTICLE , I HAVE LISTED OUT ALL MAJOR DEDUCTIONS FOR AY 2019-20. After Budget 2019 speech , Here is summary of Income Slabs & d...
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Budget 2019 Brief Analysis
Budget 2019 Highlights & brief Analysis 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 i...
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Summary of Finance Bill, 2019 ‐ Direct Taxes
Executive Summary of Finance Bill, 2019 ‐ Direct Taxes Finance Bill,2019 has proposed amendments to Standard deduction, Notional Income of two self-occupied property, Interest on capital borrowed for...
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Interim Budget 2019-20 is a Progressive Budget: FICCI
Budget addresses both the current challenges faced by the economy and outlines the vision for the future: Sandip Somany, President, FICCINEW DELHI, 1 FEBRUARY 2019: Reacting to the Interim Budget 2019...
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IT Scrutiny and assessment to get fully online in next two year
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 th...
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TDS threshold on interest on bank/post office deposits increased
TDS THRESHHOLD INCREASEDWhile 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 earne...
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Standard deduction limit raised to Rs. 50000 For salaried persons
STANDARD DEDUCTIONS RAISEDWhile presenting interim Budget 2019-20 FM has raised Standard deduction for salaried persons.For salaried persons, Standard Deduction is being raised from the current Rs.40,...
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The Budget for New India will energise the nation, says PM
Press Information Bureau Government of IndiaPrime Minister’s Office01-February-2019 16:41 ISTThe Budget for New India will energise the nation, says PM Budget will empower the poor, give a boost to th...
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Letter to newly registered IPs for attending NCLT proceedings
Insolvency and Bankruptcy Board of India7th Floor, Mayur Bhawan, Connaught Place, New Delhi-110001Tel: +91 11 23462900, +91 11 23462800Fax: +91 11 23462902, Web.: www.ibbi.gov.in30th January 2019Dear...
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FM: India now 6th largest economy in 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,...
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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 SMEsThe Government has taken several measures to strengthen the Medium, Small and...
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Rs. 1330 Crore provided in Budget 2019 for Women Protection & Empowerment
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 Mi...
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Fiscal deficit pegged at 3.4% of GDP for 2019-20
Fiscal Programme for 2019-20 and beyond Fiscal deficit pegged at 3.4% of GDP for 2019-20 In 2019-20 be, total expenditure rises by 13.30% over 2018-19 re 35.6% increase in allocation for welfare of SC...
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Government proposes to launch mega pension yojana
‘Pradhan Mantri Shram-Yogi Maandhan’ for unorganised sector workers with monthly income upto Rs. 15,000; 10 Crore Labourers and workers in the sector to be benefitted The Government proposes to launch...
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Government allocates Rs. 64,587 Crore for Railways in 2019-20
Infra allocation for north eastern areas increased by 21% to Rs. 58,166 Crore in 2019-20 In the Interim Budget 2019-20, the Railways has been allocated Rs.64,587 crore. The Railways’ overall capital e...
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ICAI President’s Message – February 2019
My Dear Professional Colleagues,We will soon see the dawn of February 2019 and that will be the beginning of Council Year 2019-20; that must be the time to take stock of the activities, initiatives an...
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Background Material on GST Law for Commerce Students
GST is a biggest transformation reform in the Indirect Taxation system in India, the likes of which has not been seen in India post-independence. New system has improved the collection of taxes as wel...
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Download Finance Bill 2019 as presented in Lok Sabha by FM
THE FINANCE BILL, 2019 AS INTRODUCED IN LOK SABHA ON 1ST FEBRUARY, 2019 VIDE BILL No. 5 OF 20191. The object of this Bill is to continue the existing rates of income-tax for the financial year 2019-20...
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Highlights of Union Interim Budget 2019-20
The key highlights of the Interim Budget 2019-20 presented by the Union Minister for Finance, Corporate Affairs, Railways & Coal, Shri Piyush Goyal in Parliament today are as follows:New Announcements...
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No Tax Benefit to those having Taxable Income Exceeding 5 Lakh
Individual taxpayers having taxable annual income up to Rs.5 lakhs will not be required to pay any income tax. The Finance Minister said that persons having gross income up to Rs. 6.50 lakhs are not r...