Page 11 - Union Budget_2019

Union Budget 2019
List of Proposals for Amendment

Effective
Sr. No Proposal Nature
date

1 April,
st
1 Incentives to Non-Banking Finance Companies (NBFCs) Prospective
2020
1st April,
2 Facilitating demerger of Ind-AS compliant companies Prospective
2020
Concessional rate of Short-term Capital Gains (STCG) tax to 1st April,
3 Prospective
certain equity-oriented fund of funds 2020

Exemption of specified transfer by Category III Alternative 1 April
st
4 Prospective
Investment Fund (AIF) 2020
st
1 April,
5 Incentives for Category II Alternative Investment Fund (AIF) Prospective
2020
Prescription of exemption from deeming of fair market value of 1st April,
6 Prospective
shares for certain transactions 2020

st
1 April,
7 Deemed accrual of gift made to a person outside India Prospective
2020
Compliance with the notification of exemption issued under 1st April,
8 Prospective
section 56(2) (viib) 2020

st
1
9 TDS on cash withdrawal to discourage cash transactions Prospective September

2019
1st
Online filing of application seeking determination of tax to be
10 Prospective November,
deducted at source on payment to non-residents
2019
1st
Electronic filing of statement of transactions on which tax has not
11 Prospective September,
been deducted
2019

1st
Relaxing the provisions of sections 201 of the Act in case of
12 Prospective September,
payments to non-residents
2019
Relaxing the provisions of sections 40 of the Act in case of 1st April,
13 Prospective
payments to non-residents 2020

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