Major Tax Changes By Budget 2019

Modi government has articulated 7 noteworthy changes in Income Tax to assist the working class citizens. These are as under –

1. Complete assessment refund u/s 87A has been reported to those gaining yearly assessable pay upto Rs 5,00,000

2. No assessment to those having gross salary till Rs. 6.5 lakh if the speculation has been made in determined reserve funds. for example in the wake of profiting the advantage of area 80C of Rs 1.5 lakh an individual can spare total assessment on the Gross pay upto Rs 6,50,000.

3. Standard Deduction has been expanded from Rs 40,000 to Rs 50,000.

4. Break Budget 2019 has acquired an extreme increment the points of confinement of TDS on enthusiasm on sparing bank and mail station. From the current intrigue finding of Rs 10,000, the points of confinement have manifolded multiple times to Rs 40,000. This has been done to advance funds by non-working ladies and little store holders.

5. TDS on lease is deducted if the yearly lease receipts in the year surpassed Rs 1,80,000 however at this point the limit has been expanded to Rs 2,40,000.

6. Under Section 54 now speculation to spare capital gain upto Rs 2Cr be made in two house properties. The advantage can be benefited once in a real existence time by the citizen.

7. Likewise, assess on Notional lease was recently charged if an individual had more than one self-involved property however at this point the equivalent would not be assessable for 2 self-involved properties.

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Certicom Consulting [ Kedia Arpana & Co ] is a group of Chartered Accountants in the business of Small Business Setup & Statutory Compliance including for Professionals for the past 15 years. We have been an established and popular company with an excellent track record for the best customer satisfaction.

Certicom Consulting

Certicom Consulting [ Kedia Arpana & Co ] is a group of Chartered Accountants in the business of Small Business Setup & Statutory Compliance including for Professionals for the past 15 years. We have been an established and popular company with an excellent track record for the best customer satisfaction.