This PPT will give you details about the policy changes that will directly affect the individual including income tax and motor vehicle act related changes.

1. Major Income Tax, TDS, Motor Vehicle Act &
other changes from 1st Sept that affects
common man
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3. Overview
1st September is an important
dates as many govt. Changes / act
amendments get implemented from
this date
We will cover major changes
● Income Tax & TDS
● IRCTC
● Motor Vehicle Act
● Bank Loans & few more
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4. ● Cash will burn - Cash withdrawal of more than 1Cr in a year, 2%
TDS at bank (194 N)
● TDS on Property - 1 % TDS deduction on property above 50
lakh, inclusive of additional charges such as club membership,
parking etc. ( Sec 194-IA)
● Shaadi par tax - Individual / HUF need to deduct 5% TDS on
payment to a single contractor above 50 Lakh in a year
● LIC - The maturity proceeds in a life insurance policy is tax-free
only if the sum assured is at least ten times of the premium.
Earlier Tax 1%, now 5%
Tax Matters
More Tax & Regulations

5. ● Chori Pakdi Jaaegi - Earlier bank transactions above 50,000/-
were reported, Now IT Department can ask for full statement of
financial transaction (SFT)
● PAN + AADHAAR-- PAN not linked with AADHAR will become
inoperative.
You can send an SMS to 567678 or 56161 from your registered
mobile number in the following format - UIDPAN<12 digit
Aadhaar number> <10 digit PAN number> For example:
UIDPAN 012345678910 ABCDE1964F
● PAN <> AADHAAR - AADHAAR can be used to file ITR as per
press conference of FM, implementation pending
Tax Matters

6. Courses For Career
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7. ● Online Ticket - Indian Railways re-introducing services charges
on its e-tickets. After demonetization govt scrapped service
charge to boost digital payments, now it's back.
○ Service charge on sleeper: 15 (earlier it was 20)
○ Service charge on AC classes: 30/- (earlier it was 40)
● Dynamic Pricing -- discounted fare scheme of up to 25 percent
for AC chair car and Executive class chair car accommodation in
trains like Shatabdi, Gatimaan, Tejas, Double Decker, Intercity,
among others. as per dynamic pricing
The Great Indian Railways

8. ● 10X Penalty - Start following rules - Ab challan Mehnga Padega
● Insurance - Good News! Insurance companies has to give claim
without any cap, claim must be given for natural calamities,
riots. Claim to be processed within 1 month
Motor Vehicles (Amendment)’19
Section/ Offence Old Penalty New Penalty (Mn)
Driving without licence 500 5000
Drunk Drive 2,000 10,000
Tripling 100 2,000
Speeding 500 5,000

9. ● SBI Home Loan - From September 1, SBI home loans would
become cheaper by 20 bps. interest rate would become 8.05%
● Loan Fatafat-- Public Sector banks have launched
psbloanin59minuites scheme, Auto and personal loan in 59
minutes. More info - www.psbloansin59minutes.com by SIDBI
● Kisan Ko Card - KCC would be issued within 15 days. The
Central Government has already issued a notice to banks
● KYC for wallet - As per RBI notice, wallet accounts without
KYC will be closed after 31st Aug, 2019
● Bank Merger - Process Starts for merger of 10 PSBs into 4
Banking - Udhar Jaldi aur Jyada?

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