Page 50 - Banking Finance August 2019

BUDGET HIGHLIGHTS

5. New benefit of deduction U/S 80EEB- Interest on loan
For update news on Banking & Finance Industry
for purchase of electronic vehicle up to Rs. 1.5 lakhs. BANKING FINANCE
Applicable to individual
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6. Amendment to Sec 115QA- DDT @20% payable in case
Covers Schemes
of buy back of listed shares Previously only on unlisted
RBI Banking 1 Year 990
shares Finance Rural/Co-op 3 Year 2460
7. Amendment to Sec 139- IT Return filling mandatory if- Stock Market Risk Management 5 Year 3825
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a. Deposit in current account in a FY exceeding Rs. 1 Subscribe Now !!
Cr.
ORDER FORM
b. Expenditure on foreign travel exceeding Rs. 2 Lakh
New Rental Subscription No.
c. Expenditure on electricity consumption exceeding (Please tick)
Rs. 1 Lakh Name of Executive :
8. Amendment to Sec 139A- Aadhar can be quoted Designation:
instead of PAN for income tax purposes Company's Name :
9. Amendment to Sec 194DA- TDS rate changed from 1% Address :
to 5% in case of payment of bonus from life insurance Pincode :
policy Phone : Mobile :
Fax : E.Mail :
10. Amendment to Sec 194IA- Consideration for immovable
property include all charges of the nature of club Publication Order :
membership fee, car parking fee, electricity or water *Scheme Opted : No.of Copies
facility fee, maintenance fee, advance fee or any other (Please mention the scheme name example : It-1, Lit-1 or Combo 4-1)
charges of similar nature, which are incidental to Period of Subscription : From to
transfer of the immovable property Details of payment : Cash/M.O./D.D./Cheque* No
11. New section 194M- Individual or HUF (other than those
who are required to deduct income-tax as per the Dt drawn Rs.
provisions of section 194C or section 194J) paying to any Ordinary Registered Post (Please tick)
resident for carrying out any work (including supply of *For outstation cheque please add Rs.50/- towards bank charges.
Outstation cheques of metro cities accepted only. No Charges ap-
labour for carrying out any work) in pursuance of a
plicable for payable at per cheques.
contract or by way of fees for professional services
Do not make any Cash Payment
during the financial year exceeding Rs. 50 Lakhs, have
for Subcription of Journals Signature of Subcriber
to deduct TDS @5 %.
Please tear and send it along with your letter
12. New section 194N- 2% TDS applicable in case of cash
withdrawal exceeding Rs.1 Cr. from a banking company Mode of Payment
or a co-operative society engaged in carrying on the
1. Payable at per Cheque/Demand Draft favouring Sashi Pulbications
business of banking or a post office. Private Limited, Payable at Kolkata
13. New section 269SU- Every person, carrying on business 2. You can directly ECS/Deposit cash in our bank account number
below in your city and send us copy of Pay in slip by email.
having, total sales, turnover or gross receipts exceeding A/C Name : Sashi Publications Private Limited
50 cr. during the immediately preceding previous year A/C No. : 402120110000327
shall provide facility for accepting payment through Bank : Bank of India
Branch : V V K Road Branch., Kolkata, India
prescribed electronic modes.
IFSC Code : BKID0004021
14. New section 271DB- Failure to comply sec 269SU Make Online Payment by Credit Card/Debit Card or your net banking
attract penalty of Rs.5000/day. T account at our website www.sashipublications.com

50 | 2019 | AUGUST | BANKING FINANCE