Tag: budget 2019-20
Deduction u/s 80EEB for interest on loan taken for purchase of electric vehicle With a view to improve environment and to reduce vehicular pollution, the Union Budget 2019-20 has proposed to insert a new section 80EEB in the Income Tax Act so as to provide for a deduction …
Deduction u/s 80EEA for interest up to 150000 on loan taken for affordable house property The Union Budget 2019-20 has proposed to insert a new section 80EEA in the Income Tax Act so as to provide a deduction in respect of interest up to one lakh fifty thousand …
2% TDS on cash withdrawals from banks/post offices with effect from 01.09.2019-New Section 194N In order to further discourage cash transactions and move towards less cash economy, the Union Budget 2019-20 has proposed to insert a new section 194N. Section 194N – Payment of certain amounts in cash …
Consequence of not linking PAN with Aadhaar-Validity of transactions previously carried out through such PAN The existing proviso to the sub-section (2) of section 139AA, provides that the PAN allotted to a person shall be deemed to be invalid, in case the person fails to intimate the Aadhaar …
Return of 1/6 Scheme for compulsory filing of returns on entering high value transactions Finance Act, 2005, had introduced one by six scheme requiring compulsory filing of return on meeting any of the six criterion. However, the Presently, a person (ither than a company/firm) entering into certain high …
For TDS u/s 194IA consideration to include charges for all amenities Section 194-IA of the Act relates to payment on transfer of certain immovable property other than agricultural land and provides for levy of TDS at the rate of one per cent. on the amount of consideration paid …
Printing process for General Budget 2019-20 commences with Halwa Ceremony As per Press Release issued by the Finance Ministry, Halwa ceremony marking the commencement of Budget printing process for the General Budget 2019-20 was held in North Block today afternoon in the august presence of the Union Minister …