Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Union Budget

| More

Interim Budget Reaction 2019 - ICAI

Posted On: 2019-02-02 11:38:18

The Interim Finance Minister, Shri Piyush Goyal, being a Chartered Accountant with deep insight of the state of affairs of the Indian economy, while presenting his maiden Union Budget 2019-20, emphasized that the country witnessed its best phase of macro-economic stability during the last four years, with a high annual average GDP growth since 1991, the year when significant economic reforms were first initiated.

He iterated that generation of high growth rate, curtailing inflation and restoring fiscal balance, has taken India to the 6th position in world economy. This period also witnessed a rapid liberalisation of the FDI policy, a wave of next generation structural reforms, including the path breaking implementation of Goods and Services Tax (GST).

The Insolvency and Bankruptcy Code was introduced in this period and the same has institutionalised a resolution-friendly mechanism, helping in recovery of non-performing loans while preserving the underlying businesses and jobs. The Real Estate (Regulation and Development) Act, 2016 (RERA) and Benami Transaction (Prohibition) Act, 1988 were also introduced in this period to bring transparency in the real estate sector.

As per this Government's vision reflected through Union Budget, India is poised to become a Five Trillion Dollar Economy in the next five years and the country aspires to become a Ten Trillion Dollar Economy in the next 8 years thereafter.

This is proposed to be achieved through a comprehensive ten dimensional vision, which includes building physical as well as social infrastructure, creating a Digital India reaching every sector of the economy, becoming a major source of energy supply, employing micro-irrigation techniques, developing inland waterways, becoming the launch-pad of satellites, working towards distress-free health care and last, but not the least, transforming India into a minimum Government maximum Governance nation.

CA. Naveen N. D. Gupta, President, ICAI today said "Chartered Accountant Finance Minister presents maiden Union Budget with ten dimensional vision for India's growth & nation building".

The Interim Finance Minister detailed the tax reforms on the direct taxes and GST front, and the benefits of the same to the citizens of India. He highlighted that tax collections as well as the tax base have shown significant increase and India has made considerable progress towards achieving a moderate taxation-high compliance regime. He acknowledged the valuable contribution of tax payers to nation building and in particular, for providing a better life to the poor and marginalized sections of society. In order to pass on the benefit of tax reforms to such tax payers without any delay, tax proposals have been introduced in this interim budget itself favouring small taxpayers especially middle class salary earners, pensioners, and senior citizens.

The beneficial tax proposals include complete tax rebate for individual taxpayers having total income up to RS. 5 lakhs, increase in standard deduction from Rs.40,000 to Rs. 50,000, extension of benefit of Nil annual value for self-occupation to two residential houses and increase in TDS threshold on interest earned on bank/post office deposits from Rs.10,000 to Rs.40,000 and on rent from Rs.1,80,000 to Rs.2,40,000. Further, investment in two residential houses would be permissible for claiming capital gains exemption under section 54.

Overall, the budget proposals on the personal taxation front would put more money in the pockets of small taxpayers and increase their purchasing power. In short, it is a progressive budget from a Chartered Accountant FM.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Views on Interim Budget 2019 - Sangeeta Prasad, MD & CEO, Mahindra Lifespaces

Reaction on Interim Budget 2019 - AdvaMed

Reaction from Fintech and Payments industry on interim budget 2019

Interim Budget 2019 Reaction - Ashish Mehrotra, MD & CEO, Max Bupa Health Insurance

Interim Budget 2019 Reaction - Mr. Ramratthinam S - CEO, Muthoot Homefin India Limited

Budget could have had incentives for coworking sector

The Market Moves: Angel Broking

Interim Budget 2019 Reaction - Dr. Alok Roy, Chairman, Medica Hospitals Pvt Ltd

Budget Review - Acuité Ratings and Research

Interim Budget 2019 Reaction - Mr. Sanjay Chamria, Vice Chairman and Managing Director, Magma Fincorp Limited

A populist yet balanced budget with a grand vision: Srei

Prioritised populism over fiscal prudence: Angel Broking

Interim Budget 2019 Reaction - Mr. Kushal Nahata, CEO & Co-founder, FarEye

Interim Budget 2019 Reaction - Mr. Parag Agarwal, Founder & CMD, Janajal

Interim Budget 2019 Reaction - Neel Juriasingani, Co-Founder & CEO, DataCultr

Interim Budget 2019 Reaction - Kumaresh Ramakrishnan, Head-Fixed Income DHFL Pramerica MF

Interim Budget 2019 Reaction - Raman Mittal, VP-Marketing, TO THE NEW

Interim Budget 2019 Reaction - Micromax

Interim Budget 2019 Reaction - Mr. Arun Thukral, MD & CEO, Axis Securities

Tax implications for the common man from Interim Budget 2019-2020: Angel Broking

Interim Union Budget 2019: A road map for developing India

Interim Budget 2019 Reaction - Mr. K. Ravichandran, Senior VP & Group Head - Corporate Ratings, ICRA

Focus on 'Healthy India' is the key takeaway: NATHEALTH

Comprehensive Wellness for Healthy India needs bigger collaborations

Big boost for consumer stocks: Angel Broking

A populist budget that gives major boost to the real estate sector

Interim Budget 2019 Reaction - Mr. Navneet Munot, Executive Director & Chief Investment Officer, SBI Mutual Fund

Interim Budget 2019 Reaction - Mr. Anuj Gulati, MD and CEO, Religare Health Insurance

Interim Budget 2019 Reaction - Power Sector - Mr. Sabyasachi Majumdar, Senior VP & Group Head - Corporate Ratings, ICRA

Interim Budget 2019 Reaction - Mr. Kamal Nandi, President - CEAMA and Business Head & Executive VP - Godrej Appliances

Interim Budget 2019 Reaction - Mr. Sabyasachi Majumdar, Senior VP & Group Head - Corporate Ratings, ICRA

Interim Budget 2019 Reaction - Epic Research

Interim Budget 2019 Reaction - Mr. Harsh Jagnani, Vice President & Sector Head-Corporate Ratings, ICRA

Interim Budget 2019 Reaction - Auto Components - Ms. Pavethra Ponniah, VP and Sector Head - Corporate Sector Ratings, ICRA

Interim Budget 2019 Reaction - Two-wheelers - Ms. Anupama Arora, VP & Sector Head - Corporate Ratings, ICRA

Post Budget Reaction 2019 - Sennheiser

Interim Budget 2019 Reaction - Tractors - Ms. Anupama Arora, VP & Sector Head - Corporate Ratings, ICRA

Interim Budget 2019 Reaction - Commercial Vehicles (CVs) - Impact: Neutral

Interim Budget 2019 Reaction - Sathguru Management Consultants

Interim Budget 2019 Reaction - Passenger Vehicle - Mr. Ashish Modani, VP & Co-Head, Corporate Ratings, ICRA

Interim Budget 2019 Reaction - Pharmaceuticals - Mr. Gaurav Jain, Vice President - Corporate Ratings, ICRA

Union Budget 2019: Empowering MSMES grows faster from Dinesh Agarwal, Founder and CEO, India Mart

Interim Budget 2019 Reaction - FMCG - Mr. Subrata Ray, Senior Group Vice President, ICRA

Interim Budget 2019 Reaction - Gold Jewellery Retail Industry - Impact - Neutral

Interim Budget 2019 Reaction - K. Ravichandran, Group Head, Corporate Sector Ratings - ICRA Ltd

Interim Budget 2019 Reaction - Shubham Jain, Group Head, Corporate Sector ratings - ICRA Ltd

Interim Budget 2019 Reaction - Mr.Anand Vilayannur, CEO & Co-founder, Tattva Mittal Group

Interim Budget 2019 Reaction - Balaji Rao, Managing Partner - Real Estate, Axis AMC

Interim Budget 2019 Reaction - Mr. H. P. Rama Reddy - Chairman, Reliaable Developers

Interim Budget 2019 Reaction - Mr. Snehashish Bhattacharjee, Global CEO, Denave







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019