Chirag Mistry & Co

24/02/2019

Council meet.

In metro cities, houses with a carpet area up to 60 sq mtr will be classified under affordable housing.

In non-metro cities, houses with a carpet area of up to 90 sq mtr will be classified under affordable housing.

Will be implemented from April 1 @ Chirag Mistry & Co

23/02/2019

The proposed ordinance will immediately tackle the deposit taking activities in the country launched by rapacious operators, which at present are exploiting regulatory gaps and lack of strict administrative measures.

Among the provisions is a ban on unregulated deposit taking schemes, punishment and repayment of deposits in cases where such schemes nonetheless manage to raise deposits illegally.

The Ordinance also provides for severe punishment ranging from 1 year to 10 years and pecuniary fines ranging from Rs 2 lakh to Rs 50 crore to act as deterrent.

01/02/2019

Budget highlights

• No Income Tax for income up to ₹5 lakh
• Individuals with gross income of up to ₹6.5 lakh will not need to pay any tax if they make investments in provident funds and prescribed equities
• Standard tax deduction for salaried persons raised from ₹40,000 to ₹50,000
• TDS threshold on interest on bank and post office deposits raised from ₹10,000 to ₹40,000
• TDS threshold on rental income increased from ₹1.8 lakh to ₹2.4 lakh
• I-T processing of returns to be done in 24 hours
• Within next 2 years all verification of tax returns will be done electronically without any interface with the tax payer
• Package of ₹6000 per annum for farmers with less than 2 hectares of land. Scheme will be called Pradhan Mantri Kisan Samman Nidhi.
• Vande Bharat Express, an indigenously developed semi high speed train, to be launched
• One lakh digital villages planned in the next five years
• Fund allocation to Northeast region increased to Rs. to 58,166 crore in this year, a 21% rise over last year for infrastructure development
• Anti-camcord regulations to be introduced in the Indian Cinematograph Act to prevent piracy and contact theft of Bollywood films.
• Single window clearance for Indian filmmakers will be introduced.
• 25 per cent of sourcing for government projects will be from MSME, of which three per cent will be from women entrepreneurs.
• National Artificial Intelligence portal to be developed soon
• The ESI cover limit has been increased to ₹ 21,000. Minimum pension was also increased to ₹ 1000.
• Mega pension scheme for workers from the organised sector with income of less than ₹15,000. They will be able to earn ₹ 3000 after the age of 60 years. The scheme will be called PM Shramyogi Maan Dhan Yojana.
• 2% interest subversion for farmers pursuing animal husbandry.
• All farmers affected by severe natural calamities will be given interest subversion for the entire period of three per cent of loans.
• The 22nd AIIMS will come up in Haryana

Chirag Mistry & Co
Tax Consultant

06/11/2018

May this Diwali Light up
New dreams, Fresh hopes,
Undiscovered avenues,
Different perspectives,
Everything bright & beautiful
And fill you days with pleasant
Surprises and moments.

Happy Diwali 2018

26/09/2018

verdict: Aadhaar mandatory for PAN linking; not compulsory for UGC, NEET & CBSE exams & school admissions. Aadhaar not needed for opening a bank a/c, no mobile company can demand Aadhaar, private companies can't seek Aadhaar data

20/09/2018

PPF and NSC will fetch annual interest rate of 8 per cent as compared to existing 7.6 per cent
Kisan Vikas Patra will yield 7.7 per cent and will now mature in 112 months
Sukanya Samriddhi account will earn higher interest rate of 8.5 per cent

India Business News: The rates of interest on various small savings schemes for the third quarter of financial year 2018-19, starting October 1 and ending on December 31,

01/09/2018

Upsurge of 71% in the no of income tax

26/08/2018

रक्षाबंधन की हार्दिक शुभकामनाएं💐

05/08/2018

Thanks for the million little things. Our Customers are our best friend. Happy Friendship Day. Chirag Mistry

20/03/2018

Want to invest in Mutual Funds, but not doing it because you know nothing about it? Worry not, its not rocket science! Watch the video to understand the concept of Mutual Funds.

Want to invest in Mutual Funds, but not doing it because you know nothing about it? Worry not, its not rocket science! Watch the video to understand the conc...

13/03/2018

આધાર કાર્ડને લઈને SCએ આપી મોટી રાહત, ચુકાદો આવે ત્યાં સુધી આધાર લિંક જરૂરી નથી