Taxcharcha
Income TaxLatest

Key takeaways from Union Budget 2019

key takeaways of union budget 2019

1.The Corporate tax of 25% has been extended to the Companies having turnover of upto Rs. 400 crores. This would cover 99.3% of the Companies

2.Deduction of Rs. 1.5 Lakh on purchase of electric vehicles

3. Invitation to global investors under investment linked tax benefits u/s. 35AD

4.Enhanced Deduction of 1.5 lakhs on interest for purchase of affordable housing upto Rs. 45 lakhs

5.TDS of 2% on cash withdrawal of Rs. 1 crore from a bank account in FY.

6. Increase in surcharge for individuals by 3% having Income of Rs. 2 to 5 Crores.

 

Related posts

Companies (Indian Accounting Standards) Amendment Rules, 2019

Team Taxcharcha

Relaxation in filing of applications for issue of certificates for lower rate / nil deduction / collection of TDS or TCS u/s. 195, 197 and 206C(9)

Team Taxcharcha

Notification No. 72/2018-Central Tax ,dt. 31-12-2018 – Seeks to extend the time limit for furnishing the details of outward supplies in FORM GSTR-1 for the newly migrated taxpayers.

Team Taxcharcha