Union Budget Articles

The Lok Sabha has passed the Finance Bill (No. 2), 2019 on 18 July 2019 with certain amendments. The key direct tax amendments are summarized as under: SECTION Amendments as introduced by Finance Bill (No. 2), 2019 on 5 July 2019 Amendments as pa..

Posted in Union Budget  2 comments |   6798 Views

The Union Budget 2019 was presented on 5th July in the Lok Sabha by the First Female Finance Minister Mrs. Nirmala Sitharaman.  Highlights of the Budget 2019 for  Real Estate Sector: 1.  Additional tax benefit of Rs 1.5 lakhs to home buyers The government has i..

Posted in Union Budget  2 comments |   812 Views

INDIRECT TAX A. Customs Customs Duty Increased/Imposed - Increase in custom duty on Gold and other precious metals - from 10% to12.5%. - Basic Customs Duty increased on - Cashew kernels PVC, tiles Auto parts marble slabs Optical fibre cable CCTV camera etc. -..

Posted in Union Budget  7 comments |   2391 Views

It is a common understanding that an obligation file the return of income under the income-tax Act arises only if the income exceeds the maximum amount not chargeable to tax or when a person desires a loss sustained by him to be carried forward in future. For example, an individual tax payer is not ..

Posted in Union Budget  8 comments |   6479 Views

GDP - Gross Domestic Product Gross Domestic Product (GDP) is the final value of all Goods and Services produced by a country in a particular period. GDP is widely used to measure any Country's economic growth. A GDP always measures the value of all goods and services at their Market Price..

Posted in Union Budget |   834 Views

Non-Banking Financial Companies (NBFCs), often referred to as the “shadow banking system” are playing an increasingly important role in our country’s financial systems and their growing influence on our nation’s economy is clearly visible in the Union Budget 2019-20 also as a..

Posted in Union Budget |   827 Views

1. There is not any change in slabs of tax rates, but there are following changes in surcharge rates for Individual, Hindu undivided family, association of persons, body of individuals, artificial juridical person w.e.f AY 2020-21. Slab To..

Posted in Union Budget  1 comments |   2692 Views

Arjuna (Fictional Character): Krishna, Union Finance Minister has presented Union Budget for the year 2019-20, so what are the major changes made in GST in Union Budget? Krishna (Fictional Character): Arjuna, Union Finance Minister Nirmala Sitaraman has presented Union Budget for the year 2019-20..

Posted in Union Budget |   5854 Views

Applicability and Process: Before the introduction of GST India was a curious mix of taxation laws, some aligned to global standards, and some not. Traditionally having had a reputation of a difficult tax regime, efforts are being taken to showcase India’s progress in improved ranking in Ea..

Posted in Union Budget |   1387 Views

Section 139(1)(b) mandates that every person being a person other than a company or a firm, if his total income or the total income of any other person in respect of which he is assessable under this Act during the previous year exceeded the maximum amount which is not chargeable to income-tax shall..

Posted in Union Budget |   2053 Views

CA Learning
Online GST Class    |    x