{"id":1532,"date":"2019-08-30T12:47:15","date_gmt":"2019-08-30T07:17:15","guid":{"rendered":"https:\/\/aktassociates.com\/blog\/?p=1532"},"modified":"2019-08-30T12:48:23","modified_gmt":"2019-08-30T07:18:23","slug":"tax-planning","status":"publish","type":"post","link":"https:\/\/aktassociates.com\/blog\/tax-planning\/","title":{"rendered":"Tax Planning for the FY 19-20\u00a0(AY 20-21)"},"content":{"rendered":"

Every year, in the first week of February, Finance minister of the ruling government presents the budget for the upcoming financial year. However, in case of election year like this year 2019, an interim budget is presented because it is not practical for the winning government to taking charge after the election to prepare the budget and pass the bill before the new financial year begins.<\/span><\/p>\n

So in the election year, the ruling government present the interim budget in parliament and the full budget is presented only after the new government comes to the power.<\/span><\/p>\n

In February 2019, Mr. Piyush goyal, on the behalf of Our late finance minister Mr. Arun Jaitely Ji, has presented the interim budget in parliament and on 5<\/span>th<\/span> July 2019, the finance minister of winning government i.e. Mrs. Nirmala Sitharaman presented the full budget. Generally, the Interim Budget and Full budget are almost the same.\u00a0<\/span><\/p>\n

\"Tax<\/p>\n

In this article, we will discuss the benefits given in the budget by the government in the FY 19-20, Income tax<\/a> deductions and best ways to save tax for the FY 19-20 (AY 20-21).<\/p>\n

First, lets me tell give you the highlights of the tax deductions applicable from 01.04.2019:<\/strong><\/p>\n