Union Budget 2020: A balancing act for taxpayers, govt8 min read . Updated: 06 Feb 2020, 06:05 PM IST
- Abolishing of the DDT regime should benefit foreign investors/companies having subsidiary in India, as they should now be eligible to claim credit for the tax paid on dividends in India
- The Finance Bill 2020 introduces a new scheme of tax rates for individuals and Hindu undivided families, providing an option to pay taxes at reduced tax rates from financial year 2020-21
The Union finance minister presented Budget 2020 in Parliament on 1 February against the backdrop of a slowing economy at home and globally. It was indeed a tough balancing act for the government amid high expectations from all stakeholders. Keeping the multiple demands in mind, the budget is woven around the three key themes of an ‘aspirational India’, ‘economic development’ and a ‘caring society’, with an aim to stimulate growth, simplify tax structure and bring ease of compliance and doing business in India.
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