TaxTMI 
TaxTMI 
TaxTMI 
Budget 2019
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....udget 2019<br>By: - CSSwati Rawat<br>Budget - Tax Proposals<br>Dated:- 5-7-2019<br><br>Budget 2019 Highlights Direct and Indirect tax 1. Mantra of Modi sarkar - reform, perform and transform 2. Dir....
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....ect tax revenue increased to 11.37 lakh crores 3. Corporate Tax- Tax Rate of 25% on Companies with turnover of upto ₹ 400 crores. This will cover 99.3 % companies. 4. GST rate reduced on elect....
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....ric vehicle from 12% to 5%. 5. Tax deduction on loan taken for purchase of electric vehicle:- Additional Income tax deduction of ₹ 1.5 lakh of interest on loan taken for purchase of electric ve....
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....hicle. 6. Start up's would not be require Scrutiny by IT Department. 7. Additional deduction of ₹ 1.5 lakh for interest on loans borrowed for housing. 8. STT change in case of Options 9. In....
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....terchangeability of PAN and Aadhaar for Income Tax Returns. 10. Faceless E-assessment for Tax Scrutiny 11. TDS of 2% on cash withdrawal exceeding ₹ 1 cr. from a Bank account per year. 12. No....
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.... charges for customer on Digital modes of payment. 13. Propose to enhance surcharge on taxable income of ₹ 2 to 5 cr. 14. Automated GST refund system to be initiated 15. Custom duty raised o....
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....n Auto Parts and CCTV's 16. 5% Custom duty increased on imported books 17. Increase of custom duty on Gild 18. Decrease of excise duty on petrol<br> Scholarly articles for knowledge sharing by auth....
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....ors, experts, professionals ....