The Union Budget 2020 was presented by Hon’ble Finance Minister Smt. Nirmala Sitharaman on 01.02.2020 and the Finance Bill, 2020 was laid down in the Parliament with amendments to proposed budget which was passed on 23.03.2020.
The Government proposes towards a defiant and resilient Indian economy frilled with its vision for the USD 5 trillion mark by the year 2025. The Budget 2020 has been presented in the backdrop of a slowdown in economic growth and employment. The objective of the Budget 2020 is to revive economic growth and investments with thrust on infrastructure, agriculture and reduce tax disputes.
Our note is not the entire finance bill and we have tried to cover all such relevant points of income tax which we believe needs your attention or action. All the amendments are applicable with effect from F.Y 2020-21 relevant to A.Y 2021-22 unless otherwise specified.
Please Find Attached herewith the detailed analysis in .PDF