Budget 2019

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..... Budget 2019 - By: - CS Swati Dodhi - Budget - Dated:- 5-7-2019 - - Budget 2019 Highlights Direct and Indirect tax 1. Mantra of Modi sarkar - reform, perform and transform 2. Direct tax revenue increased to 11.37 lakh crores 3. Corporate Tax- Tax Rate of 25% on Companies with turnover of upto ₹ 400 crores. This will cover 99.3 % companies. 4. GST rate reduced on electric v .....

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..... ehicle from 12% to 5%. 5. Tax deduction on loan taken for purchase of electric vehicle:- Additional Income tax deduction of ₹ 1.5 lakh of interest on loan taken for purchase of electric vehicle. 6. Start up s would not be require Scrutiny by IT Department. 7. Additional deduction of ₹ 1.5 lakh for interest on loans borrowed for housing. 8. STT change in case of Options .....

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..... 9. Interchangeability of PAN and Aadhaar for Income Tax Returns. 10. Faceless E-assessment for Tax Scrutiny 11. TDS of 2% on cash withdrawal exceeding ₹ 1 cr. from a Bank account per year. 12. No charges for customer on Digital modes of payment. 13. Propose to enhance surcharge on taxable income of ₹ 2 to 5 cr. 14. Automated GST refund system to be initiated 15. Cus .....

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..... tom duty raised on Auto Parts and CCTV s 16. 5% Custom duty increased on imported books 17. Increase of custom duty on Gild 18. Decrease of excise duty on petrol - - Scholarly articles for knowledge sharing authors experts professionals Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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