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