Union Budget 2019
| Meeting Date | 19 Feb 2019 |
| Meeting Time | 09:00:00 |
| Location | Bal Kalyan Samstha, Ganesh Khind Road, Next to Raj Bhavan (Governer House), Ahead of Pune University Millenium Gate, Pune-411007 |
| Meeting Type | Regular |
| Meeting Topic | Union Budget 2019 |
| Meeting Agenda | normal |
| Chief Guest | Kishore Phadke, Senior Partner, Kirtane and Pandit |
| Club Members Present | 35 |
| Minutes of Meeting | The speaker Mr Kishore Phadke Senior partner and tax consultant at Kirtane & Pandit Chartered accountants explained that the budget was an interim budget in view of the upcoming LOK Sabha elections. He said oveall the economy of India had grown, tax collections were all time high and the GST law was more or less regularlised. However, there was still no clarity if charitable trusts like Rotary fall under GST category especially for fund raising activities. For individuals these points were touched upon. Income upto Rs. 5 lakh exempted from Income Tax More than Rs. 23,000 crore tax relief to 3 crore middle class taxpayers Standard Deduction to be raised to Rs. 50,000 from Rs. 40,000 TDS threshold to be raised from Rs. 10,000 to Rs. 40,000 on interest earned on bank/post office deposits Existing rates of income tax to continue Tax exempted on notional rent on a second self-occupied house Housing and real estate sector to get boost- TDS threshold for deduction of tax on r |
