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.
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Highlights of his Income Tax Proposals of Union Budget 2018-19
1. Relaxations given under section 80JJA
2. Real Estate Transactions-No adjustment where circle rate do not exceed 5% of the sale consideration.
3. Corporate Tax rate reduced to 25% for companies with turnover pf Rs. 250 crores in FY 2016-17
5. Corporate tax rate reduced to 25% to companies which have reported turnover of up to Rs 250 crore in financial year 2016-17
9. Disallowance of 30% on non deduction of Tax
11. E-assesment new scheme
12. Section 80D deduction for medical premium increased to Rs. 50000/-
13. Education Cess has been replaced by “Health and Education Cess on income-tax” at the rate of four per cent of the total of Income Tax and Surcharge.
How would you rate the Income Tax proposals of the Finance Bill 2018?https://t.co/7dAygXKRKL
— ABCAUS (@abcaus) February 1, 2018
Download Finance Bill 2018 Click Here >>
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