SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Govt exempts cash payments above Rs 1 crore made through APMCs from 2% TDS

17 Sep 2019 Evaluate

Finance Minister Nirmala Sitharaman stated that the government has decided not to levy 2 percent tax deduction at source (TDS) on cash payments of above Rs 1 crore made through Agriculture Produce Market Committees (APMCs) in order to make immediate payments to farmers for their produce. In the Union Budget, the government had made the provision of levying 2 percent TDS on cash withdrawals exceeding Rs 1 crore to discourage the practice of making payments in cash.

Sitharaman has said that an additional 15 percent depreciation will be allowed on motor vehicles purchased between August 23, 2019, and March 31, 2020. She said the move is expected to give a boost to the automobile sector by driving sales.

The minister further said that the depreciation on cars purchased during the period will be 30 percent as against the normal rate of 15 percent. In the case of buses, lorries and taxis, she said the depreciation rate has been enhanced to 45 percent from 30 per cent. She added that depreciation helps companies reduce tax liabilities. 

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through: