Live Updates and discussion on Union Budget 2020

Page no : 6

(Guest)

Investment limit of FPIs in corporate bonds will be increased from 9% to 15%

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Mita Basak (Professional) (1921 Points)
Replied 01 February 2020

The estimated growth of GDP for 2020-21 will be 10%- FM

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(Guest)

Nominal growth of GDP for 2020-21 has been estimated at 10%: N.Sitharaman

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Mita Basak (Professional) (1921 Points)
Replied 01 February 2020

Fiscal Deficit of 3.5% estimated in 2020-21- FM

(Guest)

Expected tax buoyancy will take time: FM

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Mita Basak (Professional) (1921 Points)
Replied 01 February 2020

Lowest in the world: Corporate tax for existing companies slashed to 22% #FM

(Guest)

The collection of taxes go back to the people manifold: FM

(Guest)

New simplified personal income tax regime to lower income tax:
Income tax reforms to promote growth: FM

(Guest)

20% tax on those earnings Rs 10-12.5 lakh, says FM Sitharaman

Mita Basak (Professional) (1921 Points)
Replied 01 February 2020

Direct Tax Proposals:

Under new regime an individual can pay tax at 10% for 5 to 7.5 lacs

For income between 7.5 lacs to 10 lacs @ 15%

For income between 10lacs to 12.5 lacs @ 20%

For income between 12.5 lacs to 15 lacs @ 25%

For income above 15 lacs @ 30%

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(Guest)

For those earning ₹5 to ₹7.5 lakh, income tax has been reduced to 10% from 20%.

Mita Basak (Professional) (1921 Points)
Replied 01 February 2020

The new tax regime shall be optional for taxpayers

(Guest)

New income tax slab for FY 2020-21: ₹5-7.5 lakh: 10%, ₹7.5 lakh to ₹10 lakh: 15%, ₹10 lakh-12.5 lakh: 20%, ₹12.5 lakh-15 lakh: 25%. For those earning above ₹15 lakh, 30%.

Mita Basak (Professional) (1921 Points)
Replied 01 February 2020

Measures taken to pre-fill income tax return

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(Guest)

New income tax slab for FY 2020-21: ₹5-7.5 lakh: 10%, ₹7.5 lakh to ₹10 lakh: 15%, ₹10 lakh-12.5 lakh: 20%, ₹12.5 lakh-15 lakh: 25%. For those earning above ₹15 lakh, 30%.