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FINANCE BILL, 2020 PROVISIONS RELATING TO DIRECT TAXES Introduction The provisions of Finance Bill, 2020 (hereafter referred to as “the Bill”), relating to direct taxes seek to amend the Income-tax Ac...

Income-tax Clause 2 read with First Schedule to the Bill, seeks to specify the rates at which income-tax is to be levied on income chargeable to tax for the assessment year 2020-­2021. Further, it lay...

Union budget proposes Rs. 22000 Crore for Power and Renewable Energy sector in Current FY National Gas Grid to be expanded from the present 16200 km to 27000 km Government to consider corporatizing at...

Press Information Bureau Government of India Ministry of Finance 148 Km long Bengaluru Suburban Transport Project at a cost of Rs 18600 Crore proposed. A National Logistics Policy to create a single W...

Press Information Bureau Government of India Ministry of Finance Major Reforms Proposed in Administration of GST Regime Simplified GST Return to be Implemented from 1st April, 2020 To weed out Dummy o...

Press Information Bureau Government of India Ministry of Finance New Personal Income Tax Regime heralds significant relief, especially for Middle Class Taxpayers New tax regime to be optional for the...

Press Information Bureau Government of India Ministry of Finance MSMEs turnover threshold for Audit increased 5 times to Rs 5 Crore Increased limit to apply only to Businesses carring out less than 5%...

Press Information Bureau Government of India Ministry of Finance Finance Minister proposes wide-ranging facilitation measures in Direct Tax Regime ‘Vivad Se Vishwas’ scheme proposed to reduce litigati...

Press Information Bureau Government of India Ministry of Finance DDT proposed to be removed; to lead to estimated annual revenue forgone of Rs. 25,000 crore Tax Concessions Announced for Sovereign Wea...

Press Information Bureau Government of India Ministry of Finance Increase in Customs Duty on Footwear and Furniture to promote domestic MSMEs 5% Health Cess proposed to give impetus to the Domestic Me...

Article contains Explanatory Memoranda to Notification Nos. 01/2020-Customs to 12/2020-Customs, dated 2nd February, 2020, Explanatory Memoranda to Notification Nos. 09/2020-Customs (N.T.) to 10/2020 a...

February 1, 2020Hon’ble Speaker,I rise to present the Budget for the year 2020-2021.IntroductionIn May 2019, Prime Minister Modi received a massive mandate to form the government again. With renewed v...

Presenting the first Union Budget of the third decade of 21st century, Finance Minister Smt. Nirmala Sitharaman has releases Prominent Themes of Union Budget 2020-21 / Finance Bill 2020.Budget Highlig...

Article gives Exhaustive summary of changes in Income Tax Provisions proposed by Union Budget 2020 -21 or Finance Bill 2020. Proposals for amendments are organised under the following heads:— (A) Rate...

PRESS INFORMATION BUREAUGOVERNMENT OF INDIA******KEY HIGHLIGHTS OF UNION BUDGET 2020-21New Delhi, 1st February 2020Presenting the first Union Budget of the third decade of 21st century, Finance Minist...

Income-taxClause 2 read with First Schedule to the Bill, seeks to specify the rates at which income-tax is to be levied on income chargeable to tax for the assessment year 2020-­2021. Further, it lays...

UNION BUDGET 2020- 21PRESS INFORMATION BUREAUGOVERNMENT OF INDIANew Delhi, 1st February, 2020PART-APresenting the first Union Budget of the third decade of the 21st century, Finance Minister Smt. Nirm...

ECONOMIC SURVEY:Economic Survey is an annual document of the finance ministry, which provides comprehensive details about the state of the Indian economy, and reviews the economic progress made and is...

Hi Friends!!I am ‘Business’.In India, I exist in different forms and structures. I may be carried out by a proprietory concern, a partnership firm, LLP or a corporate entity. I can act as the critical...

The epic treatise of modern economics, written by Adam Smith in 1776, was interestingly titled ‘An Inquiry into the Nature and Causes of the Wealth of Nations’. With India having become the fifth larg...