India: Tax proposals in interim budget 2019 - KPMG Global
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India: Tax proposals in interim budget 2019

India: Tax proposals in interim budget 2019

The Finance Minister on 1 February 2019 presented the “interim union budget 2019.”

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The interim budget 2019 includes:

  • Direct tax proposals—including measures concerning deductions for developers of affordable housing; the threshold amount for withholding tax on rental payments; withholding tax on interest income from deposits with a banking company
  • Tax proposals for individuals—including measures concerning “rebates” for certain taxpayers whose income does not exceed a threshold amount; an increased standard deduction amount; an exemption from long-term capital gains tax from the sale of certain residences
  • Stamp tax proposals—including measures to impose stamp tax (duty) on transfers of certain financial instruments

 

Read a February 2019 report [PDF 751 KB] prepared by the KPMG member firm in India

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