budget 2020

The fiscal deficit target of FY20 touched 3.8% of GDP. Direct Taxes: New Income Tax Regime for Individual Tax Payers. No Income Tax for Income under 5 Lacs New Rates Are As Follows: Slab New Current Indirect Tax & Corporate Tax: Dividend Distribution Tax (DDT) Abolished Taxes on ESOPs...

In her Budget speech, Finance Minister Nirmala Sitharaman has proposed the setting up five new Smart Cities. The speech did not make any mention of the Budgetary allocation. The government in 2019 had allocated Rs 6,450 crore for the Smart Cities Mission for 2019-2020 against Rs 6,169 crore in...

New income tax slabs 0 - 2.5 lakh - exempted ₹2.5 lakh - ₹5 lakh - 5% ₹5 lakh - ₹7.5 lakh - 10% (20% earlier) ₹7.5 lakh - ₹10 lakh - 15% (20% earlier) ₹10 lakh to ₹12.5 lakh - 20% (30% earlier) ₹12.5 lakh - ₹15 lakh - 25% (30% earlier) No change in tax rates above ₹15 lakh It is to be noted...