NAVEEN CHAND (Just keep going. You never know how far you can go.) 05 July 2019
Hello Members ,
as the #TODAYBUDGET is focusing on MSME and Start Up , however we can conclude that Budget is moderate.
Following Key Points on Taxes as follows :
* No change in personal income tax rates
* Petrol, diesel to get pricier: Govt hike custom duty on fuel, gold and precious items
* Increase in surcharge on super rich: 3% surcharge for Rs 2 crore income; 7% on Rs 5 crore and above
* Annual turnover limit for 25% Corporate tax raised to Rs 400 crore from Rs 250 crore
* Taxpayers with annual turnover of less than Rs 5 crore to have to file only quarterly
* Direct tax revenue has increased by 78%
* Additional Rs 1.5 lakh deduction on home loans
* Interchangeability of PAN and Aadhaar for ITR who don't have PAN cards
* 2% TDS on withdrawals of Rs 1 crore in a year from bank accounts for business payments
* Govt waives MDR changes on cashless payment
what is your point of view on TODAY BUDGET ?