We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. Tax audit threshold has been increased from Rs 1 crore to Rs 5 crore provided turnover/ gross receipts in cash does not exceed 5% during the previous year. DDT has been discontinued. You also have the option to opt-out of these cookies. All PDF which are provided here are for Education purposes only. Provision of subordinated debt for MSMEs by Banks which is guaranteed by Credit Guarantee Trust. Power to condone the delay in applying for revocation of cancellation has been provided to the additional commissioner and commissioner for a period of 30 days. Section 194: Dividend paid by Indian companies, to a shareholder, who is resident in India, TDS @ 10% if the dividend amount exceeds 5000 during the FY.
In the case of startups, employees possessing Employee Stock Option Plans (ESOPs) may defer paying taxes up to five years from the time of exercise, till the time they leave the startup, or until they sell their shares, whichever is earlier. ClearTax can also help you in getting your business registered for Goods & Services Tax Law. Instead, the recipients of the dividend will have to pay tax at their applicable rate. Efiling Income Tax Returns(ITR) is made easy with ClearTax platform. Supply of fishmeal provided a retrospective GST exemption from 1st July 2017 to 30th September 2019. Section 206AA: in relation to 194O has been amended to 5% instead of 20% in case of not furnishing the PAN. Order for determining expense in special audit will not require the Board’s approval. Understanding of the Union Budget is very important from various competitive exams point of view as every year many questions are asked in various exams like RBI Grade B , NABARD Grade A , NABARD Grade B , SEBI Grade A and other Banking exams based on this. Eligible startups with a turnover of up to Rs 25 crore is permitted to deduct 100% of its profits for three continuous assessment years of seven years if the overall turnover is under Rs 25 crore. Why are ixamBee Online Courses so highly acclaimed?
Budget 2020 Highlights, Analysis and Summary - Union Budget 2020-21 PDF Download in iasscore . Ladakh has been included in the definition of Union Territory. the budget philosophy and approach have been briefly explained.
We also use third-party cookies that help us analyze and understand how you use this website. Accordingly, these offences will be congnizable and non-bailable. Just upload your form 16, claim your deductions and get your acknowledgment number online. Our Goods & Services Tax course includes tutorial videos, guides and expert assistance to help you in mastering Goods and Services Tax. File your Income Tax Return for FREE in 7 mins, ClearTax is used by 5 Mn Indians to file their taxes. Section 194K: Dividend paid by MF to a resident TDS 10% will be deducted only if the dividend amount exceeds 5000 during the FY, Section 194: Dividend on shares paid by company exceeding Rs 5000 will be subject to TDS @ 10%. Finance Minister (FM) Nirmala Sitharaman has presented the Union Budget 2020 of India on the 1st of February, 2020.
These cookies do not store any personal information. Union Budget 2020-2021 has been structured on the overall theme of “Ease of Living” and focused on three important areas: Aspirational India, Economic Development, A Caring Society.
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