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Budget 2019 summary

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Nyk
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Posted on Friday, February 01, 2019 - 08:56 am:       


Baatasari:




It was WhatsApp forward
 

Wellsfargo
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Posted on Friday, February 01, 2019 - 08:26 am:       


Boston_baba:

as per current ITC, there is 10% surcharge on income tax, if ur income is more than 50lac. this surcharge is on whole of income tax.
e.g., for 49.9lac, income tax is lets say 14lac.
for 50.1 lac, total tax is 14lac + 10% of 14lac.




Ok. got it.
2019 lo Modi for PM...
 

Baatasari
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Posted on Friday, February 01, 2019 - 08:25 am:       


Nyk:




did you copy this from somewhr.. can you quote the source ? might be other details .. they updated in mean-time..
brahma satyam jagan-mithyä jivo brahmaiva näparah
 

Ballasticmissile
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Posted on Friday, February 01, 2019 - 08:05 am:       

India must implement progressive taxation...rather than tax slabs like now....

This whole thing is a mess....just remove the income tax and collect the taxes from goods and companies....which will boost consumer spending and ultimately landing as tax to government again
Capacity vundi, laziness, and uninspired life is a waste of time.
YOLO kada....
But experiences is how you bring meaning to life. Worthiness should be earned with adequate efforts.
 

Boston_baba
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Posted on Friday, February 01, 2019 - 07:48 am:       


Wellsfargo:

ardham kaledu.



as per current ITC, there is 10% surcharge on income tax, if ur income is more than 50lac. this surcharge is on whole of income tax.
e.g., for 49.9lac, income tax is lets say 14lac.
for 50.1 lac, total tax is 14lac + 10% of 14lac.
TDP accepts that YSR govt irrigated 19lac acres in seemandhra,

in 1991, AP debt is 22% of GSDP, in 2004 its 34% of GSDP, in 2014 its 22% of GSDP. now, 35% of AP GSDP.
 

Wellsfargo
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Posted on Friday, February 01, 2019 - 07:35 am:       


Boston_baba:

this daridram is already there with 50lac slab na...




ardham kaledu.
2019 lo Modi for PM...
 

Wellsfargo
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Posted on Friday, February 01, 2019 - 07:34 am:       


Abhysg:

How..? Its alway start at above 5l kada..1rupee ki 20% estar..




ade mastaru rebate ki slab ki teda. aa 1 rupee vasthe, you don't qualify for the rebate and you need to pay the rebate amount and that extra 20% of 1 rupee...
2019 lo Modi for PM...
 

Boston_baba
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Posted on Friday, February 01, 2019 - 06:39 am:       


Abhysg:

How..? Its alway start at above 5l kada..1rupee ki 20% estar..



KF is correct. that tax benefit is only for those whose final taxable income is below 5lac.
TDP accepts that YSR govt irrigated 19lac acres in seemandhra,

in 1991, AP debt is 22% of GSDP, in 2004 its 34% of GSDP, in 2014 its 22% of GSDP. now, 35% of AP GSDP.
 

Boston_baba
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Posted on Friday, February 01, 2019 - 06:38 am:       


Wellsfargo:

Actually ee rebate is against the fundamental principle of taxation. at any stage your income growth should always be more than your tax growth. Kaani ikkada adi avavtledu.



this daridram is already there with 50lac slab na...
TDP accepts that YSR govt irrigated 19lac acres in seemandhra,

in 1991, AP debt is 22% of GSDP, in 2004 its 34% of GSDP, in 2014 its 22% of GSDP. now, 35% of AP GSDP.
 

Awara1984
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Posted on Friday, February 01, 2019 - 06:22 am:       


Wellsfargo:




yes last year pettadu

kalipeyochu kaani malli kalipesthe business people office expenses etc kind deductions teesukuntaru mari common people ki chillara expenses ki tax deductions ivochu kada antaaru ani pettaru
 

Abhysg
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Posted on Friday, February 01, 2019 - 05:24 am:       


Wellsfargo:

If you earn 5 lakhs and 1 rupee, your tax is 12500.2. So if you earn 1 rupee more, your tax burden increases by 12500 rupees and 20 paisa.




How..? Its alway start at above 5l kada..1rupee ki 20% estar..

Anyways...after deductions many comes under 5l ..i guess
 

Andhrawala
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Posted on Friday, February 01, 2019 - 05:23 am:       

Budget 2019 effect: How you can earn tax-free Rs 10 lakh per annum
The rebate under Section 87A of the Income Tax Act, has been enhanced to Rs 12500 from Rs 2500 earlier
http://www.moneycontrol.com/news/business/personal-finance/b udget-2019-effect-how-you-can-earn-tax-free-rs-10-lakh-per-a nnum-3471481.html
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Wellsfargo
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Posted on Friday, February 01, 2019 - 03:55 am:       


Awara1984:

intaka mundu medical bill and travel allowance ani bill submit cheste edo deduction undedi kaada

avanni peekesi direct ga standard deduction (with out any proofs/docs) over and above of tax limit ki and extra 50000 ki tax pay cheyyakarledu




18-19 fin year nundi unda adi... ee 50k edo lower tax bracket lo add cheyyocchu kada. Malli inkoka term enduku daniki
2019 lo Modi for PM...
 

Nyk
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Posted on Friday, February 01, 2019 - 03:52 am:       


Wellsfargo:




a fixed amount is deducted from the annual salary, it reduces the taxable income, and hence the tax paid amount will also reduce.
 

Awara1984
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Posted on Friday, February 01, 2019 - 03:50 am:       


Wellsfargo:




intaka mundu medical bill and travel allowance ani bill submit cheste edo deduction undedi kaada

avanni peekesi direct ga standard deduction (with out any proofs/docs) over and above of tax limit ki and extra 50000 ki tax pay cheyyakarledu
 

Wellsfargo
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Posted on Friday, February 01, 2019 - 03:47 am:       


Nyk:

Bank deposits meeda vache interest ki kooda slab penchadu

Earlier it was 10k ...now 40k




slab kaadu. TDS cut cheyyakkarledu 10-40 madhya unte. You still have to pay
2019 lo Modi for PM...
 

Wellsfargo
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Posted on Friday, February 01, 2019 - 03:47 am:       


Nyk:

Income up to 5lakhs
1.5 lakhs pf
2.5 lakhs house loan
0.25 lakh medical
0.5 lakh standard deduction
0.5 NPS




Business vallu tappa paina cheppina amounts evadu cheyyadu if they are getting 10.5 lakhs per annum. BTW what is this standard deduction?
2019 lo Modi for PM...
 

Nyk
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Posted on Friday, February 01, 2019 - 03:45 am:       

Bank deposits meeda vache interest ki kooda slab penchadu

Earlier it was 10k ...now 40k
 

Wellsfargo
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Posted on Friday, February 01, 2019 - 03:44 am:       


Awara1984:

ikkada earning 5 lakhs ante taxable income 5 lakhs ana, leda total income 5 lakhs ana?




taxable income
2019 lo Modi for PM...
 

Nyk
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Posted on Friday, February 01, 2019 - 03:44 am:       


Awara1984:

ikkada earning 5 lakhs ante taxable income 5 lakhs ana, leda total income 5 lakhs ana?




Taxable income.... not total income
 

Nyk
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Posted on Friday, February 01, 2019 - 03:43 am:       


Wellsfargo:

Vallu clear gaa ne unnaru. Numbers koosa cheppadu kada 3 crore tax payers will be benefitted ani. meeru anukunnadi aithe 6.6 crores tax payers will be benefitted ane vaadu kada




Since this is a rebate and not a slab change, it will not impact the tax incidence of those with larger incomes though it will have some impact for those whose salaries are under Rs 10 lakh as they can add home loans and tuition fees to get additional benefits.
 

Awara1984
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Posted on Friday, February 01, 2019 - 03:41 am:       


Wellsfargo:

if you earn 5lakhs, your tax is 0




ikkada earning 5 lakhs ante taxable income 5 lakhs ana, leda total income 5 lakhs ana?
 

Nyk
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Posted on Friday, February 01, 2019 - 03:40 am:       

Gross package 6.5L unnollu tax kattakkarledhu... private companies lo pf and pension cuttings undavu... Ee rebate valla people may start investing
 

Wellsfargo
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Posted on Friday, February 01, 2019 - 03:34 am:       


Awara1984:

language issue ayi untadi govt wont screw things like this in election year




Vallu clear gaa ne unnaru. Numbers koosa cheppadu kada 3 crore tax payers will be benefitted ani. meeru anukunnadi aithe 6.6 crores tax payers will be benefitted ane vaadu kada
2019 lo Modi for PM...
 

Awara1984
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Posted on Friday, February 01, 2019 - 03:34 am:       


Wellsfargo:




ee govt policies ki buda bukkala language enduku vaadutharo artham kaadu

mamulu janalu ku artham kavoddu ani fix aipotharemo,

sagam court cases aa language interpretation midane untai, CAs, Lawyers bathakadaniki maatram paniki vasthai

lets wait till tomorrow to understand what actually is given and what not
 

Wellsfargo
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Posted on Friday, February 01, 2019 - 03:32 am:       

Actually ee rebate is against the fundamental principle of taxation. at any stage your income growth should always be more than your tax growth. Kaani ikkada adi avavtledu.

if you earn 5lakhs, your tax is 0.
If you earn 5 lakhs and 1 rupee, your tax is 12500.2. So if you earn 1 rupee more, your tax burden increases by 12500 rupees and 20 paisa. US lanti places lo idi eppudu avvadu.
2019 lo Modi for PM...
 

Nyk
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Posted on Friday, February 01, 2019 - 03:28 am:       

Income up to 5lakhs
1.5 lakhs pf
2.5 lakhs house loan
0.25 lakh medical
0.5 lakh standard deduction
0.5 NPS

Total 10.5 lakh.... No tax
 

Awara1984
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Posted on Friday, February 01, 2019 - 03:28 am:       


Kadapafan:




language issue ayi untadi govt wont screw things like this in election year

oka vela language issue aina or meeru anukune laagane adi decide chesina janalu 5 lakhs varaku ani fix ayyaru so they will make necessary changes
 

Wellsfargo
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Posted on Friday, February 01, 2019 - 03:27 am:       


Awara1984:

is it from any trustable source?

I don't think Tax structure will work like that




Trustable source enti. akkada piyush cheppindi ade kada. I think ivvala budget speech lo drama ekkuva ayyindi. Basic gaa they changed only one thing. earlier it used to be 2500 rebate for people with taxable income less than 5 lakhs. Ippudu danni 12500 ki pencharu.

Drama add chesi confuse chesaru
2019 lo Modi for PM...
 

Kadapafan
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Posted on Friday, February 01, 2019 - 03:12 am:       


Awara1984:

anta kanna ekkuva unte etuvanti benefit ledu you have to pay 5% tax for the amount from 2.5 to 5 lakhs that is 12,500 ani cheptunnadu KF


Alaage undi because its rebate, in a way its basically increasing tax slab of 5-10 lakhs for those earning more than 5 lakhs for keeping less than 5 lakhs to 0
 

Shikari
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Posted on Friday, February 01, 2019 - 03:06 am:       

matti..neellu..lol
http://i.imgur.com/eUYcc.gif
 

Junior_no1
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Posted on Friday, February 01, 2019 - 03:05 am:       


Awara1984:

anta kanna ekkuva unte etuvanti benefit ledu you have to pay 5% tax for the amount from 2.5 to 5 lakhs that is 12,500 ani cheptunnadu KF


100% correct,naa concen eti ante tax percentage taggginchi vunteyy max middle class benefit ayyevaru
Fox Life
 

Awara1984
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Posted on Friday, February 01, 2019 - 03:02 am:       


Junior_no1:




adi clear ga undi

kakapothe aa zero tax till 5 lakhs is applicable only if taxable income is 5 lakhs and

anta kanna ekkuva unte etuvanti benefit ledu you have to pay 5% tax for the amount from 2.5 to 5 lakhs that is 12,500 ani cheptunnadu KF
 

Sicago
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Posted on Friday, February 01, 2019 - 03:01 am:       

Tax ni 5 Lakhs ki penchi vunte veedi mummy husband sommu yemanna poyedaa, chithakarthe yadava, tax lu, katti, GST lu katti Software bemmi lu adukku thinalaa....

Pothav raa reyy....
 

Junior_no1
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Posted on Friday, February 01, 2019 - 02:58 am:       


Awara1984:

I don't think Tax structure will work like that




upto 5lacs no tax
5l - 10 l 20%
1OL and above 30%
Fox Life
 

Awara1984
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Posted on Friday, February 01, 2019 - 02:54 am:       


Kadapafan:




is it from any trustable source?

I don't think Tax structure will work like that
 

Junior_no1
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Posted on Friday, February 01, 2019 - 02:50 am:       


Kadapafan:

Attention everyone :

Slabs have not changed. If you hve a taxable income of more than 5 lakh, you have to pay the 5% in the 250,000 to 500,000 slab. Only if your income is less than 5 lakh then you get the Rs12,500 �rebate�.

No change if you earn 5lkhs+
#Budget2019 #IncomeTax


ippude susa,modi baga dimpadu
Fox Life
 

Kadapafan
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Posted on Friday, February 01, 2019 - 02:48 am:       

Attention everyone :

Slabs have not changed. If you hve a taxable income of more than 5 lakh, you have to pay the 5% in the 250,000 to 500,000 slab. Only if your income is less than 5 lakh then you get the Rs12,500 ârebateâ.

No change if you earn 5lkhs+
#Budget2019 #IncomeTax
 

Abhysg
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Posted on Friday, February 01, 2019 - 02:44 am:       


Shikari:

National kamdhenu ayog for cows.




Dairy development ani chaduko..
 

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Posted on Friday, February 01, 2019 - 02:42 am:       


Nyk:

National kamdhenu ayog for cows. Rs. 750 crores for National Gokul Mission





Capacity vundi, laziness, and uninspired life is a waste of time.
YOLO kada....
But experiences is how you bring meaning to life. Worthiness should be earned with adequate efforts.
 

Shikari
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Posted on Friday, February 01, 2019 - 02:38 am:       


Nyk:

National kamdhenu ayog for cows.



http://i.imgur.com/eUYcc.gif
 

Nyk
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Posted on Friday, February 01, 2019 - 02:34 am:       

HIGHLIGHTS OF BUDGET 2019

*Tax*
1. Within 2 years, Tax assessment will be done electronically
2. IT returns processing in just 24 hours
3. Minimum 14% revenue of GST to states by Central Govt.
4. Custom duty has abolished from 36 Capital Goods
5. Recommendations to GST council for reducing GST rates for home buyers
6. *Full Tax rebate upto 5 lakh annual income after all deductions.*
7. Standard deduction has increase from 40000 to 50000
8. Exempt on tax on second self-occupied house
9. Ceiling Limit of TDS u/s 194A has increased from 10000 to 40000
10. Ceiling Limit of TDS u/s 194I has increased from 180000 to 240000
11. Capital tax Benefit u/s 54 has increased from investment in one residential house to two residential houses.
12. Benefit u/s 80IB has increased to one more year i.e. 2020
13. Benefit has given to unsold inventory has increased to one year to two years.
*Other Areas*
14. State share has increased to 42%
15. PCA restriction has abolished from 3 major banks
16. 2 lakhs seats will increase for the reservation of 10%
17. 60000 crores for manrega
18. 1.7 Lakh crore to ensure food for all
19. 22nd AIIMS has to be opened in Haryana
20. Approval has to be given to PM Kisan Yojana
21. Rs. 6000 per annum has to be given to every farmer having upto 2 hectare land. Applicable from Sept 2018. Amount will be transferred in 3 installments
22. National kamdhenu ayog for cows. Rs. 750 crores for National Gokul Mission
23. 2% interest subvention for farmers pursuing animal husbandry and also create separate department for fisheries.
24. 2% interest subvention for farmers affected by natural calamities and additional 3% interest subvention for timely payment.
25. Tax free Gratuity limit increase to 20 Lakhs from 10 Lakhs
26. Bonus will be applicable for workers earning 21000 monthly
27. The scheme, called Pradhan Mantri Shram Yogi Mandhan, will provide assured monthly pension of Rs. 3,000 with contribution of Rs. 100 per month for workers in unorganized sector after 60 years of age.
28. Our government delivered 6 crores free LPG connections under Ujjawala scheme
29. 2% interest relief for MSME GST registered person
30. 26 weeks of Maternity Leaves to empower the women
31. More than 3 Lakhs crores for defence
32. One lakh digital villages in next 5 years
33. Single window for approval of India film makers

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