Budget 2020 | Live Updates

Direct Taxes Updates -

• New simplified personal tax regimes introduced
• No tax for income upto 5 lakhs
• Individuals earning income between 5 lakhs to 7.5 lakhs to be taxed @10%
• Individuals earning income between 7.5 lakhs to 10 lakhs to be taxed @15%
• Individuals earning income between 10 lakhs to 12.5 lakhs to be taxed @20%
• Individuals earning income between 12.5 lakhs to 15 lakhs to be taxed @25%

*Terms and conditions apply - Exemptions to be foregone ??

• DDT removed. Dividend to be taxed in the hands of assessee.
• ESOPs tax to be deferred by 5 years.

General Budget Updates

• Key areas to watch out in this budget - LTCG, DDT, Income Tax Slabs, Divestment.
• FM reaches the Parliament to present Budget 2020 before the Cabinet
• Cabinet approves Union Budget 2020
• FM Nirmala Sitharaman presents the first budget of this decade
• Government debt stands at 48.7% of the GDP
• A new and simplified GST return system coming this April 2020
• FDI in India rises to $284 billion during 2014-19
• Rs. 99,300 crores outlay for the education sector.
• Allocation of Rs. 27,300 crores for Industry and Commerce
• Delhi Mumbai Expressway to be ready by 2023.
• 100 more airports to be developed by 2025
• A tax payer charter being introduced as a part of law to avoid Tax harrasment
• Deposit Insurance limit increased from Rs. 1 lakh to Rs. 5 lakh.
• Stake sale proposed in LIC
• Fiscal deficit at 3.8% for 2019-20 and target of 3.3% for 2020-21