https://www.taxtmi.com/news?id=21631 The Budget increases effective tax rates for the highest individual income groups while reporting substantial growth in direct tax revenues. It restricts Securities Transaction Tax on option exercise to the difference between settlement and strike price, grants an additional interest deduction for affordable housing loans and an additional deduction for interest on loans to purchase electric vehicles, proposes compulsory return filing for persons meeting prescribed high-value transaction thresholds, aligns NBFC taxation of bad debt interest to receipt basis, and offers direct tax incentives to promote the International Financial Services Centre. en-us Fri, 05 Jul 2019 16:44:32 +0530 Fri, 05 Jul 2019 16:44:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=21631 The Budget increases effective tax rates for the highest individual income groups while reporting substantial growth in direct tax revenues. It restricts Securities Transaction Tax on option exercise to the difference between settlement and strike price, grants an additional interest deduction for affordable housing loans and an additional deduction for interest on loans to purchase electric vehicles, proposes compulsory return filing for persons meeting prescribed high-value transaction thresholds, aligns NBFC taxation of bad debt interest to receipt basis, and offers direct tax incentives to promote the International Financial Services Centre. News - Fri, 05 Jul 2019 16:44:32 +0530 https://www.taxtmi.com/news?id=21631