Union Budget News

Memorandum Finance Bill 2019

05 July 2019 at 14:42

FINANCE (No.2) BILL, 2019PROVISIONS RELATING TO DIRECT TAXES & RELATED LAWSIntroductionThe provisions of Finance (No. 2) Bill, 2019 relating to direct taxes seek to amend the Income-tax Act, 1961 (hereafter referred to as the Act),

Posted in Union Budget | 20457 Views

Union Budget 2019: Tax on HNI having inc above 2 crore increase by 3%

05 July 2019 at 14:12

Tax rates for individuals having taxable income from Rs. 2 cr - 5 cr and Rs. 5 cr & above to be increased by around 3 % and 7 % respectivelyDirect Tax revenue increases by over 78 % in FY2018-19 from FY 2013-14; rose to Rs. 11.37 lakh crore from

Posted in Union Budget | 1473 Views

Start-ups and their investors filing requisite declarations not to be subjected to any scrutiny regarding Angel tax

05 July 2019 at 14:12

Start-ups and their investors filing requisite declarations not to be subjected to any scrutiny regarding valuations of share premiumsE-verification mechanism proposed for establishing identity of the investor and source of his fundsTV programme prop

Posted in Union Budget | 1290 Views

Government to consider issuing Aadhaar Card for NRIs with Indian Passports

05 July 2019 at 14:09

Government to consider issuing Aadhaar Card for NRIs with Indian PassportsGovernment to open four new Embassies in 2019-2017 iconic Tourism Sites being developed into world class tourist destinationsIndian Development Assistance Scheme (IDEAS) to be

Posted in Union Budget | 1503 Views

Lower rate of 25 % Corporate Tax extended to companies with Annual Turnover up to Rs. 400 crore

05 July 2019 at 14:09

Lower rate of 25 % Corporate Tax extended to companies with Annual Turnover up to Rs. 400 crore from earlier cap of upto Rs 250 croreInterchangeability of PAN and Aadhaar to file tax return proposed2 % TDS on cash withdrawal exceeding Rs. 1 crore in

Posted in Union Budget | 1656 Views

Businesses with less than 5 crore annual turnover to file quarterly GST returns

05 July 2019 at 14:06

GST processes further simplified; businesses with less than Rs. 5 crore annual turnover to file quarterly GST returns; threshold for goods supplier to be enhanced from Rs. 20 lakhs to Rs. 40 lakhsSabka Vishwas Legacy Dispute Resolution Scheme to reso

Posted in Union Budget | 3042 Views

Complete official summary of Union Budget 2019-20

05 July 2019 at 14:05

SEVERAL TAX PROPOSALS AIM TO PROMOTE INVESTMENTS IN START-UPS AND SUNRISE INDUSTRIES IN THE COUNTRYLOWER 25% CORPORATE TAX RATE IS TO BE APPLICABLE TO THOSE WITH ANNUAL TURNOVER UPTO RS.400 CRORE INSTEAD OF THE CURRENT LIMIT OF RS.250 CROREINCREASE I

Posted in Union Budget | 2235 Views

All the Key features of Union Budget 2019 by FM Nirmala Sitharaman

05 July 2019 at 13:54

The Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman made her maiden Budget Speech today and presented the Union Budget 2019-20 before the Pa

Posted in Union Budget | 4611 Views

Key Highlights of Direct and Indirect Tax Proposals in Budget 2019

05 July 2019 at 13:52

Key Highlights of Direct and Indirect Tax Proposals Indirect Tax Electronic invoice system will be introduced to prefill the taxpayers return. Roll out from January 2020 There will be no need for separate for e-way bill. A simplified single month

Posted in Union Budget | 19305 Views

Read & Download updated Finance Bill 2019-20

05 July 2019 at 13:48

THE FINANCE (NO.2) BILL, 2019 _________ARRANGEMENT OF CLAUSES__________CHAPTER IPRELIMINARYCLAUSES 1. Short title and commencement.CHAPTER IIRATES OF INCOME-TAX2. Income-tax.CHAPTER IIIDIRECT TAXESIncome-tax3. Amendment of section 2.4. Amendment of s

Posted in Union Budget | 18852 Views