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2778735 - Union Budget changes 2019-2020 FAQs

Symptom

  • Section 80TTA TDS limit has been changed.
  • Tax exemption on Long Term Capital Gains (LTCG) from sale of residential house has been extended to re-investment in two house properties in India (once in lifetime), subject to LTCG being below INR 2 crores.
  • No notional rent required to be offered on second Self-Occupied Property (SOP).  Earlier more than one SOP was considered as deemed let out and notional rent was to be offered to tax.
  • Amendment of Section 24 which deals with interest on housing loan has been amended to include two residential houses for interest paid with the total limit of deduction remaining INR 200,000.

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Environment

  • SAP ERP Human Capital Management
  • SAP ERP Payroll India
  • SAP R/3
  • SAP R/3 Enterprise
  • SAP ERP
  • SAP ERP Central Component
  • SAP enhancement package for SAP ERP

Product

SAP ERP 6.0 ; SAP ERP Central Component all versions ; SAP ERP all versions ; SAP R/3 Enterprise all versions ; SAP R/3 all versions ; SAP S/4HANA, on-premise edition 1511 ; SAP enhancement package for SAP ERP all versions

Keywords

80TTA, LTCG, IT0584, PA0584, budget, 2019, interim , KBA , PY-IN , India , PY-IN-PS , INDIA PUBLIC SECTOR , PA-PA-IN , India , How To

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