Friday, February 1, 2019

Copy of Finance Bill, 2019

The interim Finance Minister, Mr. Piyush Goyal, has presented the interim Budget in the Parliament. A few key amendments have been proposed in the Finance Bill, 2019.

from taxmann.com News http://bit.ly/2GjCudY

Interim Budget 2019- Standard deduction for salaried employees raised from Rs. 40,000 to Rs. 50,000

This is the first time in Indian history that Interim Budget has been announced as on 1 February. Modi’s Government current tenure is about to over as this is the last budget before 2019 Lok Sabha elections. The final budget will be presented in July by the newly elected Government after elections.

from taxmann.com News http://bit.ly/2RqESSl

Interim BUDGET 2019- No tax on individuals having income upto Rs. 500000

This is the first time in Indian history that Interim Budget has been announced as on 1 February. Modi’s Government current tenure is about to over as this is the last budget before 2019 Lok Sabha elections. The final budget will be presented in July by the newly elected Government after elections.

from taxmann.com News http://bit.ly/2BhB6Fz

Interim BUDGET 2019- Rs. 3000 per month pension for workers of unorganised sector

This is the first time in Indian history that Interim Budget has been announced as on 1 February. Modi’s Government current tenure is about to over as this is the last budget before 2019 Lok Sabha elections.

from taxmann.com News http://bit.ly/2BcZmJ8

Interim BUDGET 2019- Rs. 3000 per month pension for workers of organised sector

This is the first time in Indian history that Interim Budget has been announced as on 1 February. Modi’s Government current tenure is about to over as this is the last budget before 2019 Lok Sabha elections.

from taxmann.com News http://bit.ly/2B9FQwL

RBI issues Ombudsman Scheme for digital transactions

In the public interest and in the interest of conduct of business relating to payment system, The Reserve Bank of India (RBI), has issues ombudsman scheme for digital transactions.

from taxmann.com News http://bit.ly/2BehfXE

Due date for filing Form GST TRAN-1 has been extended from January 31, 2019 to March 31, 2019

Govt. has extended the due date for submitting the declaration in FORM GST TRAN-1 from January 31, 2019 to March 31, 2019 for the class of registered persons who could not submit the said declaration by the due date on account of technical difficulties on the common portal and whose cases have been recommended by the Council.

from taxmann.com News http://bit.ly/2GetQNW

AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

INCOME TAX : Where assessee had purchased a flat and incurred expenditure of Rs. 23 lakhs for purpose of renovating house and Assessing Offi...