Union Budget 2020
In the Union Budget 2020, finance minister Nirmala Sitharaman announced that the turnover threshold for auditing will be raised from INR 1 crore to INR 5 crore for MSMEs who carry less than 5 per cent of their business transactions in cash
At INR 69, 000 crore for FY21, the outlay for the health sector in Union Budget 2020 is a marginal improvement over INR 62,659 crore provided in the previous Budget
The new tax regime is expected to result in more tax outgo for lower salary incomes and impact savings but on the contrary it can benefit senior citizens and non-salaried individuals
Dividend Distribution Tax abolished for companies, but tax on dividend income shifted to investors
Startups are hopeful that the government drops the requirement for IMB certification for this and creates a level playing field for startups in India as compared to their global counterparts.
Data centre parks , national mission on quantum technologies and applications and digitization via BharatNet on the offing
Rejigging of tax slabs appears a welcome move at first however, it is important to look closely into the implications of forgoing your deductions u/s 80C, 80D, 8024(b) etc
Finance minister Nirmala Sitharaman said start-ups "have emerged as engines of growth for our economy" and announced some key policies benefiting the community
The expectations were to hear some sweeping changes which is why most seem to think of this as a lackluster budget.
While passenger earnings hit the target, freight earnings revised downwards for FY20; budgetary support for FY21 goes up.
The government will sell partial stake in the insurer through an initial public offering.
Building on India's vision to be a $5 trillion economy by 2025, Nirmala Sitharaman announced a series of measures aimed at bolstering the flagging economy. The end result was a mixed bag of plans and policies eliciting a lukewarm response from the markets.
India's finance minister Nirmala Sitharaman on Saturday presented the first budget of the new decade, with a broad focus around three themes: aspirational India, economic development and a caring society.
Budget 2020 should give a new definition of MSMEs wherein the businesses are classified on the basis of their turnover
Some start-up founders and company leaders share their thoughts about the current situation in their respective sectors and what they would be expecting from the budget on February 1.