Is it true ?

I have just saw on Tax Guru on CNBC awaaz that

1. Assessment Year & Previous Year concepts will be abolished by New Tax Code & Financial Year Concept will only be there for the simplicity of the People.

2. Tax Exemption for Individual will be Rs. 2,00,000.

Is the above information is right ?

Waiting for the reply from all.

Thanks in advance.

YES SIR ITS ABSOLUTELY TRUE.

IN STOCK MARKETS THE FOLLOWING ARE MOST LIKELY TO HAPPEN

1.STT ABOLISHED

2. COMMON TAX RATE FOR LTCG AND STCG... HOWEVER CALCULATED DIFFERENTLY.

3. CORPORATE TAX @ 30%

---> SUBJECT TO FINAL CONFIRMATION FROM OFFICIAL SOURCES.

Regards

Yes, even I saw that programme a few minutes back.... and the info true. Infact, I dnt think that there are many changes in the proposal that was made last year.

But, we should wait for the official announcement in the Monsoon session of the Parliament...the confirmation should come by tomorrow regarding the same.

yup.... i also saw

Yes its true.......