{"id":14505,"date":"2020-02-01T14:22:10","date_gmt":"2020-02-01T08:52:10","guid":{"rendered":"http:\/\/itatonline.org\/info\/?p=14505"},"modified":"2020-02-01T14:22:10","modified_gmt":"2020-02-01T08:52:10","slug":"download-finance-bill-2020","status":"publish","type":"post","link":"https:\/\/itatonline.org\/info\/download-finance-bill-2020\/","title":{"rendered":"Download Finance Bill 2020"},"content":{"rendered":"<p>The Finance Bill 2020 was presented in Parliament today, 1st February 2020. A copy of the same is available for download. <\/p>\n<p><script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script><br \/>\n<!-- responsive --><br \/>\n<ins class=\"adsbygoogle\"\n     style=\"display:block\"\n     data-ad-client=\"ca-pub-6440093791992877\"\n     data-ad-slot=\"6406297397\"\n     data-ad-format=\"auto\"><\/ins><br \/>\n<script>\n(adsbygoogle = window.adsbygoogle || []).push({});\n<\/script> <\/p>\n<div class=\"journal2\"><a href=\"https:\/\/itatonline.org\/info\/finance-bill-2020\/#blurbdl\">Click here to download the Finance Bill 2020<\/a><\/div>\n<div class=\"journal2\"><a href=\"https:\/\/itatonline.org\/info\/finance-bill-memo-2\/#blurbdl\">Click here to download the Memorandum explaining the Finance Bill 2020<\/a><\/div>\n<p>The provisions of Finance Bill, 2020 (hereafter referred to as &#8220;the Bill&#8221;), relating to direct taxes seek to amend the Income-tax Act, 1961 (hereafter referred to as &#8216;the Act&#8217;), Prohibition of Benami Property Transactions Act, 1988 (hereafter referred to as \u201cPBPT Act\u201d), and Finance Act, 2013, to continue to provide momentum to the buoyancy in direct taxes through tax-incentives, reducing tax rates for co-operative society, individual and Hindu undivided family (HUF), deepening and widening of the tax base, removing difficulties faced by taxpayers, curbing tax abuse and enhancing the effectiveness,<br \/>\ntransparency and accountability of the tax administration.<\/p>\n<p>With a view to achieving the above, the various proposals for amendments are organised under the following heads:\u2014<\/p>\n<p>(A) Rates of income-tax;<br \/>\n(B) Tax incentives;<br \/>\n(C) Removing difficulties faced by taxpayers;<br \/>\n(D) Measures to provide tax certainty;<br \/>\n(E) Widening and deepening of tax base;<br \/>\n(F) Revenue mobilisation measures;<br \/>\n(G) Improving effectiveness of tax administration;<br \/>\n(H) Preventing tax abuse; and<br \/>\n(I) Rationalisation of provisions of the Act.<\/p>\n<p><iframe loading=\"lazy\" width=\"560\" height=\"315\" src=\"https:\/\/www.youtube.com\/embed\/NqLekhkNxi4\" frameborder=\"0\" allow=\"accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Those earning up to Rs 5 lakhs are exempt from paying taxes<br \/>10% tax for  Rs 5-7.5 lakh pay 20%<br \/>15% tax for Rs 7.5- 10 lakhs pay 20%<br \/>20% tax for Rs 10-12.5 lakhs pay 30%<br \/>25% tax for Rs 12.5-15 lakhs pay 30%<br \/>Those earning more than Rs 15 lakhs get no exemptions<a href=\"https:\/\/twitter.com\/hashtag\/Budget2020?src=hash&amp;ref_src=twsrc%5Etfw\">#Budget2020<\/a><\/p>\n<p>&mdash; Prabhudas Lilladher (@PLIndiaOnline) <a href=\"https:\/\/twitter.com\/PLIndiaOnline\/status\/1223512808844746754?ref_src=twsrc%5Etfw\">February 1, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">LTCG tax stays; budget 2020 disappoints mutual fund investors and returns on investments in equity mutual funds held over a year are treated as long-term capital gains and taxed at 10% on gains of over Rs 1 lakh in a financial year.<a href=\"https:\/\/twitter.com\/hashtag\/Budget2020?src=hash&amp;ref_src=twsrc%5Etfw\">#Budget2020<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/PLIndiaOnline?src=hash&amp;ref_src=twsrc%5Etfw\">#PLIndiaOnline<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/PLBudgetUpdates?src=hash&amp;ref_src=twsrc%5Etfw\">#PLBudgetUpdates<\/a><\/p>\n<p>&mdash; Prabhudas Lilladher (@PLIndiaOnline) <a href=\"https:\/\/twitter.com\/PLIndiaOnline\/status\/1223522487813566464?ref_src=twsrc%5Etfw\">February 1, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Budget 2020 proposes a scheme to bring down litigation in direct taxation scheme; 4.83 lakh direct cases pending in various appellate forums.<a href=\"https:\/\/twitter.com\/hashtag\/Budget2020?src=hash&amp;ref_src=twsrc%5Etfw\">#Budget2020<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/PLIndiaOnline?src=hash&amp;ref_src=twsrc%5Etfw\">#PLIndiaOnline<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/PLBudgetUpdates?src=hash&amp;ref_src=twsrc%5Etfw\">#PLBudgetUpdates<\/a><\/p>\n<p>&mdash; Prabhudas Lilladher (@PLIndiaOnline) <a href=\"https:\/\/twitter.com\/PLIndiaOnline\/status\/1223517447312957443?ref_src=twsrc%5Etfw\">February 1, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Govt. extends additional Rs 1.5 lakh tax benefit on interest paid on affordable housing loans to March 2021.<a href=\"https:\/\/twitter.com\/hashtag\/Budget2020?src=hash&amp;ref_src=twsrc%5Etfw\">#Budget2020<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/PLIndiaOnline?src=hash&amp;ref_src=twsrc%5Etfw\">#PLIndiaOnline<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/PLBudgetUpdates?src=hash&amp;ref_src=twsrc%5Etfw\">#PLBudgetUpdates<\/a><\/p>\n<p>&mdash; Prabhudas Lilladher (@PLIndiaOnline) <a href=\"https:\/\/twitter.com\/PLIndiaOnline\/status\/1223517840570904576?ref_src=twsrc%5Etfw\">February 1, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Budget2020?src=hash&amp;ref_src=twsrc%5Etfw\">#Budget2020<\/a> Proposed removal of Dividend Distribution tax on dividends receivable for Holding Cos &#8211; Positive for Bajaj Finserv, Bajaj Holdings, Grasim <a href=\"https:\/\/twitter.com\/hashtag\/SharekhanResearch?src=hash&amp;ref_src=twsrc%5Etfw\">#SharekhanResearch<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/SharekhanFNA?src=hash&amp;ref_src=twsrc%5Etfw\">#SharekhanFNA<\/a><\/p>\n<p>&mdash; Sharekhan (@Sharekhan) <a href=\"https:\/\/twitter.com\/Sharekhan\/status\/1223517047981776896?ref_src=twsrc%5Etfw\">February 1, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Govt proposes deferment of tax payment by employees on ESOPs from startups by 5 years<a href=\"https:\/\/twitter.com\/hashtag\/Budget2020?src=hash&amp;ref_src=twsrc%5Etfw\">#Budget2020<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/PLIndiaOnline?src=hash&amp;ref_src=twsrc%5Etfw\">#PLIndiaOnline<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/PLBudgetUpdates?src=hash&amp;ref_src=twsrc%5Etfw\">#PLBudgetUpdates<\/a><\/p>\n<p>&mdash; Prabhudas Lilladher (@PLIndiaOnline) <a href=\"https:\/\/twitter.com\/PLIndiaOnline\/status\/1223516406672609280?ref_src=twsrc%5Etfw\">February 1, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Budget2020?src=hash&amp;ref_src=twsrc%5Etfw\">#Budget2020<\/a> government proposed to remove dividend distribution tax; Positive for high dividend paying companies like ONGC, Coal India, IOCL, Infosys, TCS, NTPC, Power Grid, Bajaj Auto, Hero Motocorp, ITC, HUL, Nestle, Bajaj Finserv <a href=\"https:\/\/twitter.com\/hashtag\/SharekhanResearch?src=hash&amp;ref_src=twsrc%5Etfw\">#SharekhanResearch<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/SharekhanFNA?src=hash&amp;ref_src=twsrc%5Etfw\">#SharekhanFNA<\/a><\/p>\n<p>&mdash; Sharekhan (@Sharekhan) <a href=\"https:\/\/twitter.com\/Sharekhan\/status\/1223513489366450178?ref_src=twsrc%5Etfw\">February 1, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Finance Bill 2020 was presented in Parliament today, 1st February 2020. A copy of the same is available for download<\/p>\n<div class=\"read-more\"><a href=\"https:\/\/itatonline.org\/info\/download-finance-bill-2020\/\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1,7],"tags":[],"class_list":["post-14505","post","type-post","status-publish","format-standard","hentry","category-all-information","category-others"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/posts\/14505","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/comments?post=14505"}],"version-history":[{"count":0,"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/posts\/14505\/revisions"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/media?parent=14505"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/categories?post=14505"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/tags?post=14505"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}