These cookies will be stored in your browser only with your consent. Download ClearTax App to file returns from your mobile phone. As per Article 112 of the Indian Constitution, the Union Budget is defined as a statement of the estimated receipts and expenditure of the government for that particular year.

Just upload your form 16, claim your deductions and get your acknowledgment number online. We request you to respect our Hard Work. Change in residential status: (Section 6), An individual, being a citizen of India, shall be deemed to be resident in India in any previous year, if he is not liable to tax in any other country, An individual being a citizen of India, or a person of Indian origin who, being outside India, comes on a visit to India in any previous year and is in India for 120 days or more, shall be resident in India, A person is said to be “not ordinarily resident” in India in any previous year, if such person is. ClearTax is a product by Defmacro Software Pvt. ixamBee Online Courses are curated by experts after a thorough research and analysis. Finance Minister (FM) Nirmala Sitharaman has presented the Union Budget 2020 of India on the 1st of February, 2020. We request you to respect our Hard Work. Provision to extend the time limit to return the inputs and capital goods from job worker. Budget 2020 Highlights, Analysis and Summary - Union Budget 2020-21 PDF Download in iasscore .

Please utilize them for building your knowledge and don't make them Commercial. Also, payment made in the P.Y in cash does not exceed 5%. Accordingly, these offences will be congnizable and non-bailable. Robust mechanism is in place to monitor and ensure health of all scheduled commercial banks and depositors’ money is absolutely safe.

What is the Union Budget? 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. Provision of subordinated debt for MSMEs by Banks which is guaranteed by Credit Guarantee Trust. Ladakh has been included in the definition of Union Territory. Furthermore, the eligibility period to deduct is increased to 10 years from 7 years. Short Video Lessons covering all important aspects of exam. Necessary cookies are absolutely essential for the website to function properly. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. Vision IAS Summary Of Union Budget 2020-21 PDF All PDF which are provided here are for Education purposes only. Section 50C, in case of transfer of capital asset being land or building or both, if value adopted for the purpose of stamp duty does not exceed 110% of the actual consideration received, then consideration so received shall be deemed to be the full value of consideration for computing capital gains on transfer of such capital assets.Before the amendment it was 105% instead of 110%. File your Income Tax Return for FREE in 7 mins, ClearTax is used by 5 Mn Indians to file their taxes. Fighting Depression in times of UPSC and the endless wait. Our GST Software helps CAs, tax experts & business to manage returns & invoices in an easy manner. A document containing a fiscal summary of the 2020 budget; a budget forecast for Milwaukee; detailed narrative descriptions of each department’s mission, services, outcome measures and related activities; and a summary of appropriations by expenditure category. Save taxes with ClearTax by investing in tax saving mutual funds (ELSS) online. J&K will have its appellate tribunal. We also use third-party cookies that help us analyze and understand how you use this website. 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. The government aims to double farmers’ income by 2022, Help 15 lakh farmers solarise their grid-connected pump sets, “KisanRail” and “KrishiUdaan” for seamless transport of perishable farm goods, Increasing coverage of artificial insemination to 70%, Raise fishery exports to Rs 1 lakh crore by 2024-25, About 150 higher educational institutions will start apprenticeship embedded courses, Special bridge courses to improve skill sets of those seeking employment abroad, Ind-SAT to be conducted in Africa and Asia under study in India programme, Allocation of Rs 99,300 crore for the educational sector in 2020-21, Allocation of Rs 3,000 crore for skill development, Deposit Insurance Coverage to increase from Rs 1 lakh to Rs 5 lakh per depositor, Eligibility limit for NBFCs for debt recovery under SARFAESI Act proposed to be reduced to asset size of Rs 100 crore or loan size of Rs 50 lakh, Separation of NPS Trust for government employees from PFRDAI, Proposal to sell balance holding of government in IDBI Bank, More than 20, 000 empanelled hospitals under PM Jan Arogya Yojana, “TB Harega Desh Jeetega” campaign launched to end TB by 2025, Expansion of Jan AushadhiKendra Scheme to all districts by 2024, Focus on liquid and greywater management along with waste management, You can do it yourself by uploading form-16.