PROVISIONS RELATING TO DIRECT TAXES
The provisions of Finance Bill, 2020(hereafter referred to as “the Bill”), relating to direct taxes seek to amend the Income-tax Act, 1961 (hereafter referred to as ‘the Act’), Prohibition of Benami Property Transactions Act, 1988 (hereafter referred to as “PBPTAct”), 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, transparency and accountability of the tax administration.
With a view to achieving the above, the various proposals for amendments are organised under the following heads:—
(A) Rates of income-tax;
(B) Tax incentives;
(C) Removing difficulties faced by taxpayers;
(D) Measures to provide tax certainty;
(E) Widening and deepening of tax base;
(F) Revenue mobilisation measures;
(G) Improving the effectiveness of tax administration;
(H) Preventing tax abuse; and
(I) Rationalisation of provisions of the Act.
Click here to download Full Budget 2020 as well as Finance Bill for the Financial Year 2020.
Download Automated Income Tax Preparation Excel Based Software All in One for the Government & Non-Govt(Private) Employees for the F.Y.2020-21 and A.Y.2021-22
Feature of this Excel Utility:-
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4) Automated Income Tax Arrears Relief Calculator U/s 89(1) with Form 10E from the F.Y.2000-01 to F.Y.2020-21 (Update Version)
5) Automated Income Tax Revised Form 16 Part A&B for the F.Y.2020-21
6) Automated Income Tax Revised Form 16 Part B for the F.Y.2020-21
7) Individual Salary Sheet