Finance Minister Nirmala Sitharaman on Saturday proposed reduction of tax on cooperative societies to 22 per cent plus surcharge and cess, from 30 per cent at present. Presenting the Budget for 2020-21, Sitharaman also announced extending by one year the date of approval of affordable housing projects for availing tax holiday on profit earned by developers.
Finance Minister Sitharaman cuts her Union Budget 2020 after feeling unwell towards fag end, reports PTI. Sitharaman was presenting her second Budget for FY 2020-2021 in Parliament. Her blood pressure reportedly fell and she was advised to sit.
Finance Minister Nirmala Sitharaman on Saturday said that health cess on import of medical equipment imposed in Budget.
Finance Minister Nirmala Sitharaman on Saturday said that To ease allotment of PAN, new process of instantly allotting PAN through Aadhaar will be introduced.
Finance Minister Nirmala Sitharaman on Saturday said that litigation in direct taxation scheme will be reduced. There are 4.83 lakh direct cases pending in various appellate forums.
Budget 2020: Making a big announcement in her Budget speech, Finance Minister Nirmala Sitharaman said the government will sell a part of its stake in Life Insurance Corporation (LIC) through an Initial Public Offering (IPO). At present, the government owns the entire 100 per cent stake in Life Insurance Corporation of India (LIC).
Finance Minister Nirmala Sitharaman on Saturday said that tax payment by employees will be deferred on ESOPs from startups by five years.
The government plans to increase investment limit of foreign portfolio investors (FPI) in corporate bonds from 9 per cent to 15 per cent, Finance Minister Nirmala Sitharaman said on Saturday.
During Budget speech, Finance Minister Nirmala Sitharaman announced that the Indian Railways will set up Kisan Rail through PPP model so that perishable goods can be transported quickly.
In a major relief to the common man, the Finance Minister on Saturday announced to raise the insurance cover on bank deposits to Rs 5 lakh from the current Rs 1 lakh.
Finance Minister Nirmala Sitharaman on Saturday said that concessional withholding rate of 5 percent on interest payment to non-residents extended up to June 30, 2022.
Income tax slab revised Latest News: Ushering in a new income tax regime, Union Finance Minister Nirmala Sitharaman announced cuts on Saturday as she presented Union Budget 2020. But there's a catch. Under the new proposed regime, which is optional, you will not be able to avail any deductions or exemptions that earlier allowed you to lower the amount of your salary that was taxed.
Finance Minister Nirmala Sitharaman presented the full Budget of the second term of the Narendra Modi government.
Union Finance Minister Nirmala Sitharaman on Saturday said that the work on Prime Minister Narendra Modi's ambitious 508-km Ahmedabad-Mumbai High Speed train project will be actively pursued and also said that it will set up 'Kisan Rail' through public private partnership (PPP) for transportation of perishable goods.
Power plants with emissions above prescribed limits will be asked to close down, Finance Minister Nirmala Sitharaman said on Saturday. Presenting the Budget for 2020-21, she said India's commitment towards tackling climate change made at Paris conference kick starts from January 1, 2021.
Fiscal deficit is pegged at 3.8 percent in current fiscal and 3.5 percent in the next, Union Finance Minister Nirmala Sitharaman said as she presented Budget 2020 in Parliament.
Budget 2020 announcement: The nominal GDP growth for the year 2020-21 is estimated at 10 percent, Union Finance Minister Nirmala Sitharaman announced on Saturday as she presented Budget 2020.
Bank deposit insurance cover hiked: Finance Minister Nirmala Sitharaman on February 1, 2020, announced a hike in insurance cover for bank depositors and said depositors' money is absolutely safe. Deposit Insurance and Credit Guarantee Corporation has been permitted to increase deposit insurance coverage to Rs 5 lakh per depositor from Rs 1 lakh.
Presenting the Budget for 2020-21, Sitharaman said Rs 9,500 crore has been provided for senior citizens and Divyangs, while Rs 35,600 crore has been allocated for nutrition related programme in FY21.
Budget 2020 announcement: Finance Minister Nirmala Sitharaman on Saturday proposed to increase the investment limit of FPIs in corporate bonds from 9 per cent to 15 per cent.
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