Income upto Rs 5 Lakh to get full tax rebate; higher standard deduction proposed Relief of over Rs 23,000 crore to estimated 3 Crore small and middle class tax- payers

Ministry of Finance Income upto Rs 5 Lakh to get full tax rebate; higher standard deduction proposed Relief of over Rs 23,000 crore to estimated 3 Crore small and middle class tax- payers TDS threshhold on interests on small savings raised Boost to housing and real estate sector FM announces a slew of tax reliefs for middle class and small tax payers 01 FEB 2019 Individual taxpayers having taxable annual income up to Rs.5 lakhs will get full tax rebate and therefore will not be required to pay any income tax. While presenting...

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HIGHLIGHTS OF BUDGET 2019

HIGHLIGHTS OF BUDGET 2019 Tax 1. Within 2 years, Tax assessment will be done electronically 2. IT returns processing in just 24 hours 3. Minimum 14% revenue of GST to states by Central Govt. 4. Custom duty has abolished from 36 Capital Goods 5. Recommendations to GST council for reducing GST rates for home buyers 6. Full Tax rebate upto 5 lakh annual income after all deductions. 7. Standard deduction has increase from 40000 to 50000 8. Exempt on tax on second self-occupied house 9. Ceiling Limit of TDS u/s 194A has increased from 10000 to...

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Budget 2019 : Income Tax exemption limit raised to Rs. 5 lakh

Budget 2019 : Income Tax exemption limit raised to Rs. 5 lakh Finance Minister Piyush goyal has proposed that individuals with income upto Rs 5 lakh will not have to pay any income tax for FY2019-20. In the previous budgets also, the Narendra Modi led-government provided tax relief to taxpayers. In Budget 2014, the minimum tax-exemption limit was raised from Rs 2 lakh to Rs 2.5 lakh. Along with that deduction, limit under section...

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Extension of benefits of 7th CPC to the pensioners and family pensioners of Autonomous Bodies

Extension of benefits of 7th CPC to the pensioners and family pensioners of Autonomous Bodies F.No. K-58015/9/2018-Plant-Coord Government of India Ministry of Commerce & Industry Department of Commerce [Plantation Division] Udyog Bhavan, New Delhi Dated 27th December, 2018 To The Dy. Chairman. Tea Board, Kolkata The Secretary, Coffee Board, Bengaluru The Executive Director. Rubber Board, Kottayam The Chairman, Spices Board, Kochi. Subject :- Extension of benefits of 7th CPC to the pensioners and family pensioners of Autonomous...

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