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Daily News Analysis (Feb 02, 2019) (PART 1) (in Hindi)
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News analysis

Sushant Puri
Verified star educator.I am a Network Engineer by profession. follow me on fb page, YouTube ,Telegram channel: General studies with Sushant

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  1. DAILY NEWS ANALYSIS (THE HINDU) (FEBRUARY 2019) by SUSHANT PUR


  2. About me - Verified Star Educator at Unacademy Graduate in Electronics and communication engineering Certified trainer by Electronics sector skill council of India 2 years of experience in teaching httosi unacademy.com/user/iSushant unacademy


  3. Unacademy Plus subscription 34 UPSC CSE UPSC CSE Subseription plus 7,000 /month 5,250/month 42 000 931.500 for 6month 30+ hours of live sessions every day Structured courses in English and Hindi 23.50O/month 2 25 top educators New courses published every month Dilled asonetime payment of31 500(6 months My courses


  4. SOP OPERA With a keen eye on the election, the interim Budget 201920 contained elements that are aimed at benefiting three major segments of the population farmers, informal sector workers, and salaried taxpayers with announcements of an income support scheme for farmers, a new pension scheme for informal sector workers, and tax exemptions for salaried workers.


  5. Individual taxpayers with annual income up to R5 lakh will not have to pay any income tax, adding that the present I-T rates would continue. More than Rs. 23,000 crore tax relief to 3 crore middle class taxpayers. Individuals with gross income of up to 6.5 lakh would not have to pay any tax if they make investments in provident funds and other prescribed methods ( Life Insurance, Mutual Funds,National Pension scheme)


  6. Particular Situation 1 Situation 2 500100 INCOME COMPUTATION OF TAX 0-250000 @ 0% 250001-500000 @ 5% 500001-500100 @ 20% REBATE U/S 87A NET TAX ADD: CESS @4% NET TAX LIABILITY 500000 0 12500 0 12500 0 12500 20 0 12520 501 13201 0


  7. ILLUSTRATION FOR SALARIED CLASS PEOPLE GROSS TOTAL INCOME DEDUCTIONS . Standard 985000 50000 150000 50000 deduction I. 80C (PPF ,LIC etc) 25000 485000 III. NPS IV. 80D (Medical 200000 10000 insurance) home lone bank interest V. Interest on VI. 80TTA saving 500000 NET TAXABLE INCOME INCOME TAX ON ABOVE NIL


  8. Finance Minister Piyush Goyal proposed amending Section 87A of the Income Tax Act to increase the rebate for taxpayers at the lower end of the spectrum. Currently, the Section provides for a rebate of 2,500 for all taxpayers with an income of less than 3.5 lakh a year. So, a taxpayer earning 5 lakh a year effectively paid tax (at 5%) on only 2 lakh of that amount


  9. Tax exempted on notional rent on a second self- occupied house Housing and real estate sector to get boost. increased from Rs. 1,80,000 to Rs. 2,40,000. Tax exemption period on notional rent, on unsold TDS threshold for deduction of tax on rent to be inventories, extended from one year to two years


  10. Particulars Standars deduction to salaried class Threshold limit for TDS on on interest from banks & 10000 post office Threshold limit for TDS on rent Excemption of income tax on notional rent from self 1 house occupied house property Excemption of income tax on notional rent from unsold inventory of flats etc Exemption of income tax on reinvestment of capita 1 house gains u/s 54 FY 2018-19 FY 2019-20 40000 50000 40000 180000 240000 2 house properties 2 year property 1 year 2 house properties property