Personal finance sector Budget 2020
In the 2019-20 Interim Budget Finance Minister Piyush Goyal proposed an array of incentives for both middle-class and farmers. Making a big populist push in its final budget before elections, the Narendra Modi-government exempted people with an earning of up to Rs 5 lakh from payment of income tax, announced an annual cash dole-out of Rs 6,000 to small farmers and provided a monthly pension of Rs 3,000 to workers in the unorganised sector. Over 3 crore salaried class, pensioners, self-employed and small businesses with total income of up to Rs 5 lakh will save Rs 10,900 in income tax annually after considering the relief Goyal provided in form of a 'rebate'. For those making investments of Rs 1.5 lakh in tax saving instruments, the tax-free income would be Rs 6.5 lakh.
Showing of 0 - 10 from 11 results
Personal Finance Sector - Total results - 11
Feb 01, 2020
Budget 2020: Govt introduces five income tax slabs with lower rates for those foregoing exemptions, earlier regime to coexist for nowFinance Minister Nirmala Sitharaman on Saturday introduced new slabs and reduced the tax rate for different slabs for an individual income of up to Rs 15 lakh per annum, if a taxpayer opts for foregoing exemptions and deductions
Jan 29, 2020
Budget 2020: From initiatives to boost consumption, promote growth, here's a slew of expectations from Nirmala SitharamanWhen it comes to saving instruments, the types of instruments where relief for interest earned is available is different for different categories of taxpayers, adding complicity to tax laws and making it burdensome for the average taxpayer
Jan 28, 2020
Budget 2020: After corporate tax reduction, it is time Nirmala Sitharaman gives some relief to individual taxpayersThe reduction in individual tax will leave the taxpayers with more room to spend and consequently will improve demand, consumption and investment, which is the need of the hour to boost India’s economic growth.
Jan 27, 2020
Various tax exemptions for salaried class has outlived utility; time for Nirmala Sitharaman to enhance themCurrently, the maximum tax rate of 30 percent is triggered at an income exceeding Rs 10 lakh per annum
Jan 24, 2020
Budget 2020: Income tax cuts will not only give more money to employees but boost consumptionWith changes being brought in year after year, India’s taxation system has become very complex, difficult to comprehend and recall
Jan 21, 2020
Budget 2020: Having showered confetti on corporates, Nirmala Sitharaman cannot disappoint salaried classThe one-size-fits-all standard deduction of Rs 40,000 from salary needs to be upped to a third of the salary or Rs 1 lakh whichever is less
Jan 20, 2020
Budget 2020: Former finance secretary SC Garg favours 4 rate income tax structure without cessThere are as many as eight slabs of income tax with the highest effective tax rate exceeding 40 percent.
Jan 16, 2020
Union Budget 2020-21: AMFI pitches for debt-linked saving schemes with tax benefits; sends proposal to Finance MinistryMutual funds industry body AMFI has requested the government to allow low-cost debt-linked saving schemes, with tax benefits, to deepen bond market, and lower holding period in gold and commodity ETFs to one year from existing three years for LTCG purposes
Dec 23, 2019
Union Budget 2020-21: Pension fund regulator wants govt to double tax benefit under NPS to Rs 1 lakhPension fund regulator PFRDA is pitching for doubling the tax benefit under the NPS to Rs 1 lakh in the upcoming Budget, according to a whole-time member of the authority
Dec 19, 2019
Union Budget 2020-21: Trade unions urge Nirmala Sitharaman to hike income tax ceiling, minimum wages, pensionTrade unions urged the government to provide minimum wage of Rs 21,000, minimum pension of Rs 6,000 under Employees' Pension Scheme and tax exemption on annual income of up to Rs 10 lakh in a pre-budget meeting with Finance Minister Nirmala Sitharaman on Thursday