Budget 2019: From lowering personal income tax rate to rationalisation of GST rates, industry hopes Piyush Goyal can tackle pending issues - Firstpost

Budget 2019: From lowering personal income tax rate to rationalisation of GST rates, industry hopes Piyush Goyal can tackle pending issues - Firstpost
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  • A decision may also be taken to lower the highest personal income tax rate from existing 30 percent to 25 percent.
  • No major change is expected in income tax before the release of Direct Tax Code Report on February 28.
  • In addition to this, it would be great to see the Budget focusing on lowering the personal income tax slabs, and tax saving schemes which would lead to higher disposable income and directly benefit the normal taxpayer.
  • Since 2012, companies are required to pay tax on subscription money received on issuance of shares, where the subscription price is higher than the fair market value (FMV) of the shares, also known as angel-tax.


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