Author: administrator
Deductions u/s 80-JJAA of The Income-Tax Act Extended To Footwear And Leather Industry To Help Employment Generation The Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley has proposed to extend the benefits under Section 80-JJAA of the Income-tax Act to footwear and leather industry. While presenting the …
Long-term capital gains on sale of equity shares taxable @ 10% – New section 112A applicable from AY 2019-20 Under the existing provisions, long term capital gains arising from equity shares of a company or an unit of equity oriented fund or an unit of business trusts is exempt …
Tax Relief to Senior Citizens in Budget 2018-19. Health insurance premium, medical treatment of specified diseases, interest income and non deduction of tax at source (A) Deductions in respect of health insurance premium and medical treatment Section 80D, inter-alia, provides that a deduction upto Rs 30,000/- shall be allowed …
Requirement to obtain Permanent Account Number enlarged for entities Section 139A has been amended to provide that entities (other than individuals) shall apply for a PAN if it enters into a financial transaction of Rs. 250000/- or more in a financial year. Also applying for PAN has been made …
Standard deduction of Rs. 40000/- for salaried employees for the AY 2019-20 is reintroduced in the Budget 2018-19 Proposals presented in Lok Sabha today As per the speech of the Finance Minister, the standard deduction is being made available in lieu of transport and reimbursement of miscellaneous medical allowance. Presently, …
Budget 2018-19 Highlights of Income Tax Proposals The Finance Minister has presented the Union Budget 2018 today in Lok Sabha. The major highlights of his Income Tax Proposals are as under, more shall be updated as soon as they are announced. For Income Tax benefits/exemptions given in Interim Budget …
Rebate under section 87A for Assessment Year 2019-20 – No changes proposed No changes have been proposed by the Finance Bill 2018 in the rebate u/s 87A for AY 2019-20 100 percent Section 87A tax rebate up to income of Rs. 5 lakhs for AY 2020-21 Click Here >> The …
Income Tax slabs and rates for the AY 2019-20 FY 2018-19 No changes have been proposed in either Individual tax rates or slabs for the AY 2019-20. The slabs and rates shall remain the same as are currently for the AY -2018-19 which are as under: (A) Individual resident aged …
EPF contribution for women employee reduced to 8% in Budget Proposal 2018-19 presented by the Finance Minster. Details shall be updated as soon as the Budget Documents are made available
Income Tax Rule 8D is prospective in operation and could not apply to any assessment year prior to AY 2008-09 – Supreme Court settles the law ABCAUS Case Law Citation: ABCAUS 2188 (2018) (01) SC Important Case Laws Cited/relied upon by the parties: Commissioner of Wealth Tax, Meerut Vs. Sharvan Kumar Swarup & Sons, …
