BUDGET 2019-II INCOME TAX PROPOSAL- INDIVIDUAL Those having annual income of Rs 5 lakh exempt from paying taxes Additional income tax deduction of Rs 1.50 lakh on the interest paid on loans for Electronic Vehicle Interest subvention for up to Rs 2.5…
Author: commerceclub
Deduction on Interest Income for Senior Citizen’s only from AY 2019–20
Section 80TTB has been included after Section 80TTA as a big relief to Senior citizens. Section 80TTB will be effective from AY 2019–20 onwards. This deduction will be available for Senior citizen’s resident of India only. NRI would not get…
DIR‑3 KYC Date Extended
The Ministry of Corporate Affairs has received representations from stakeholders expressing certain difficulties in filing e‑form DIR‑3 KYC in accordance with Rule 12A of the Companies (Appointment and Qualification of Directors) Rules, 2014. Requests have also been made for extension of…
GST Council decisions on rate changes on supply IN 35th GST Council Meeting
The 35th GST Council Meeting was held here today under the chairmanship of Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman. This was the first meeting of the Council after the swearing in of the new Government. The meeting was…
35th GST Council Meeting Press Release and Recomandation
GST Council decision relating to changes in law and procedure The 35th GST Council Meeting was held here today under the chairmanship of Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman. This was the first meeting of the Council after…
GST Rate reduced for Real Estate Sector
Recommendations of the 33rd GST Council meeting Real estate sector is one of the largest contributors to the national GDP and provides employment opportunity to large numbers of people. “Housing for All by 2022” envisions that every citizen would have…
Key highlights of the Interim Budget 2019–20
The key highlights of the Interim Budget 2019–20 presented by Shri Piyush Goyal in Parliament today are as follows: Income Tax Persons having Total Income upto Rs. 5 lakh exempted from Income Tax. Basic Exemption limit and Tax Slab has been…
Finance Bill 2019 of Interim Budget 2019
Share on: whatsapp
Major Changes in GST effective from 01.02.2019
Following Amendments would take effect under GST from 1st Feb 2019. Upper limit of turnover for opting composition scheme shall be raised from Rs. 1 Cr to Rs. 1.50 Cr. A Composite dealer(in goods) shall be allowed to supply services (other than…
Taxability of Perquisites Under Income Tax
Taxability of Different Perquisites paid to Employees by Employers in the hand of Employee for the financial year 2018–19 under Income Tax. Section wise details has been given in tabular Format. 17(2)(i)/(ii) read with Rule 3(1) Rent free unfurnished accommodation provided…