Budget 2020 News

There are a significant number of Indians who work or have businesses outside their country of origin. NRIs (non-resident Indians) are required to pay taxes on income earned or received in India, if it exceeds annual limits set by the Income ...

Now to ease the process for the taxpayer as well as for the tax administration, Budget 2020-21 presented on February 1, 2020 announced the furnishing of instant Permanent Account Number (PAN) online based on aadhaar details. This way individual or ...

To curb tax evasion, and bring transparency, the Budget 2020 proposed to replace Form 26AS with a new Annual Financial Statement (AFS) that will include details of taxpayers' property, shares possessed and mutual fund transactions along with tax deducted at source ...

At the Union Budget presentation, finance minister Nirmala Sitharaman proposed a new tax regime for the financial year 2020-21 that shall remain optional to individuals. Under the new structure, tax rates on various income slab were slashed, however, to avail this ...

While the relief has been extended to taxpayers with new slabs at lowered tax rates but without exemptions, those individuals who make better income would need to recheck their CTC and if there is contribution in excess of Rs. 7.5 ...

Indian markets are expected to fall even further next week, given that the Union Budget lacked the punch to push economic growth. The Sensex is down more than 6.5 per cent since hitting record highs of 42,273 points in Jan, 2020. ...

Finance Minister Nirmala Sitharaman on Saturday proposed new personal income tax slabs in the Union Budget 2020. Under the new tax regime, 7 income slabs have been introduced and tax rates have been slashed on income up to Rs 15 lakh. ...