Budgets highlights 2020 by fcma,cs,mba bibek 3mins Budget 2020 | Gender budget sees a drop 3mins 33 students from Wuhan reach Sri Lanka 3mins Budget 2020 | We wanted to make sure money is in people’s hands: Nirmala Sitharaman 6mins Budget 2020 | E-com platforms must deduct 1% TDS on transactions 8mins Budget 2020 | Cheer for science as key departments get a raise 12mins Kumar Mangalam Birla on Budget 2020: Taking the economic challenges head-on 14mins Budget 2020 | No more double taxation on dividends 16mins Budget 2020 | Pat for ‘Beti Padhao’ scheme comes in for flak 17mins ‘CAA-NRC-NPR, part of Hindutva project’ 27mins Budget 2020 | Steep hike in Customs Duty to keep China toys out of reach 29mins Budget 2020 | Spending on space goes up by 8% 32mins Budget 2020: MSMEs turnover limit for audit increased 36mins Bottom-up approach to building economy 37mins Budget 2020 | Health care in focus with ₹69,000 crore outlay 3mins Budget 2020 | Gender budget sees a drop 3mins 33 students from Wuhan reach Sri Lanka 3mins Budget 2020 | We wanted to make sure money is in people’s hands: Nirmala Sitharaman 6mins Budget 2020 | E-com platforms must deduct 1% TDS on transactions 8mins Budget 2020 | Cheer for science as key departments get a raise 12mins Kumar Mangalam Birla on Budget 2020: Taking the economic challenges head-on 14mins Budget 2020 | No more double taxation on dividends 16mins Budget 2020 | Pat for ‘Beti Padhao’ scheme comes in for flak 17mins ‘CAA-NRC-NPR, part of Hindutva project’ 27mins Budget 2020 | Steep hike in Customs Duty to keep China toys out of reach 29mins Budget 2020 | Spending on space goes up by 8% 32mins Budget 2020: MSMEs turnover limit for audit increased 36mins Bottom-up approach to building economy 37mins Budget 2020 | Health care in focus with ₹69,000 crore outlay

1. PM -Modi
FM -Nirmala Sitharaman
2/1/2020 1
Budget 2020 Highlights By FCMA Bibek
Ku

2. I M POSSIBLE
1
I M POSSIBLE
Bibek Prajapati
(FCMA, CS , MBA, M COM, ).
My kind request for you Please like , subscribe ,comment and don’t forget to share
Pray to God for the success in Life
Thank You
2/1/2020 2Budget 2020 Highlights By FCMA Bibek Ku

3.  Residential status
 Income Rate slab
 Income Tax Audit 44AB
 Dividend Distribution Tax
 New Education policy
 Firmer to go solar
 100 more Airports
 Scheme for women SHGS
 National high way 12 lots
 Small startups
 BANKS/LIC
 GST /IT New Returns
Highlights of Budget 2020
Reside
ntial
status Income
Rate
slab
Income
Tax
Audit
44AB
Dividen
d
Distribu
tion Tax
New
Educati
on
policy
IT/GST
Return100
more
Airports
Schem
e
women
SHGS
Nationa
l high
way 12
lots
Small
startup
s
BANKS
/LIC
Firmer
to go
solar
2/1/2020 3Budget 2020 Highlights By FCMA Bibek Ku

4. POINTS Current FY 2019-20 Proposed budget 2020
Resident
in India
A resident taxpayer is an
individual who satisfies one of
the following conditions:
1)Resides in India for a
minimum of 182 days in a
year.
2)Has resided in India for a
minimum of 365 days in the
immediately preceding four
years. In addition, he must
reside in India for a minimum
of 60 days in the current
financial year.
The amendment proposed by
the budget provides for such
an individual to be resident in
India in either of the two
scenarios –
(i) the individual’s stay in
India during the financial year
is 182 days or more; or
(ii) the individual’s stay in
India is 120 days or more in
the current financial year and
365 days or more in the
preceding 4 financial years.
2/1/2020 4Budget 2020 Highlights By FCMA Bibek Ku

5. Not available
-U/S-16 (Rs 50000)
U/S-24b(Rs200000)
No Loss Set up HPI(Rs 200000)
Perks benefits
No CA Required ( Difference in 26AS & Form 16)
Easy Income Tax Return Forms
GST New Returns Forms
2/1/2020 5Budget 2020 Highlights By FCMA Bibek Ku

6. 2/1/2020 6Budget 2020 Highlights By FCMA Bibek Ku

7. POINTS Current FY 2019-20 Proposed budget 2020
Income
Rate
slab
(for
Individuals
below the
age of 60
years)
*
Surcharge and education cess
would apply a* Surcharge and
education cess would apply as per
existing ratess per existing rates
Slab Rates Rate
UPTO 250000 Nil
250001 to 500000 5%
500001 to 750000 10%
750001 to 1000000 15%
1000001 to 1250000 20%
1250001 to 1500000 25%
Above 1500000 30%
Slab Rates Rate
UPTO 250000 Nil
250001 to 500000 5%
500001 to 750000 20%
Above 1000000 30%
2/1/2020 7
Budget 2020 Highlights By FCMA Bibek Ku

8.  MSMEs turnover threshold
for Audit increased 1 cr to 5
times ie Rs 5 Crore
 Increased limit to apply only
to Businesses carring out
less than 5% of their
business transactions in
cash Significant tax relief to
start-ups
 Subject to 95 % payment
received from digital mode.
2/1/2020 8Budget 2020 Highlights By FCMA Bibek Ku

9. POINT
S
Budget FY 2019-20 Proposed budget
2020
Divid
end
Distri
butio
n Tax
Currently, DDT is paid by the
companies before paying dividend to
their shareholders.
Therefore, it made dividend received
by the shareholders of the company of
tax-free in their hands.
Further, taxpayers earning dividend
income of more than Rs 10 lakh are
required to pay tax at the rate of 10
per cent.
Taxation of dividends – Dividends paid
by a domestic company are subject
to dividend distribution tax (DDT) at
15% of the
aggregate dividend declared,
distributed or paid.
The minister said revenue
foregone due to DDT removal
will be Rs 25,000 crore.
The finance minister said
dividends will now be taxed in
the hands of recipients.
Further tax will be dedcuted at
source on such dividend incomes
at the rate of 10 per cent if it
exceeds Rs 5, 000 in a financial
year.
2/1/2020 9Budget 2020 Highlights By FCMA Bibek Ku

10.  “A degree-level full-fledged online education programme
will be offered by institutes in top 100 in National
Institutional Ranking Framework,”, adding that Centre will
announce a new education policy soon.
 “The government has received over 2 lakh suggestions
on it.
 Propose Rs 99,300 crore for education sector in 2020-21
and Rs 3,000 crore for skill development,”
 . While there is an increase of 4.6 per cent in the
education spending than last year, the budget for skill
development remains almost unchanged.
 announced holding IND-SAT exam in African and Asian
countries, for foreign candidates who wish to study in
India.
2/1/2020 10
Budget 2020 Highlights By FCMA Bibek Ku

11.  Proposed 100 percent tax concession to sovereign
wealth funds on investment in infra projects.
 Concessional tax rate of 15 pc extended to power
generation companies.
 Removed 70 exemptions, deductions with a view to
further simplify tax regime. Rs 40,000 cr per annum will
be revenue foregone from new income tax rates for
individuals.
 Those earning upto Rs 5 lakh in a year will pay no tax.
 Proposed 10 per cent tax for income between Rs 5 lakh
and Rs 7.5 lakh PA for those who forego deductions and
exemptions.2/1/2020 11Budget 2020 Highlights By FCMA Bibek Ku

12. Firmer to go solar – for 6cr farmers 20lakhs
under scheme PM KUSM
National textile mission to be lunch
Nomination of National high way 12 lots by
2024
100 more Airports to be developed by
support of UDAN by 2024
Village storege scheme proposed by women
SHGS2/1/2020 12
Budget 2020 Highlights By FCMA Bibek Ku

13. POINT
S
Current FY 2019-20 Proposed budget 2020
'80-
IAC. Speci
al
provision
in respect
of
specified
business
The benefit under section 80IAC allows
startups with up to ₹25 crore in sales to
deduct their entire income from eligible
operations while calculating taxable
income.
This benefit is available for startups
incorporated within five years starting
April 2016.
The CBDT further stated that all start-
ups recognised by DPIIT which fulfilled
the conditions specified in the
Department for Promotion of Industry
and Internal Trade (DPIIT)
notification ..
CBDT has clarified today small start-ups
with turnover up to Rs 25 crore will
continue to get the promised tax holiday
as specified in Section 80-IAC of the
Income Tax Act, 1961, which provides
deduction for 100 per cent of income of
an eligible start-up for 3 years out of 7
years from the year of its incorporation,
“proposes to extend the period of
eligibility for claim of deduction from the
existing 7 years to 10 years.
"Since the intention was to support the
small startups, the turnover limit of Rs 25
crore was considered reasonable for
granting profit linking deduction,2/1/2020 13Budget 2020 Highlights By FCMA Bibek Ku

14.  The government, a promoter, holds
around 46.5 percent stake in IDBI Bank,
and is classified as a private bank
following LIC's acquisition.
 In September, Life Insurance
Corporation (LIC) of India and the
Government together infused Rs 9,300
crore as equity capital into the bank.
 State-owned LIC, which is the promoter
of the debt-ridden lender with 51 per
cent stake, will pump in an additional
Rs 4,743 crore to improve the bank's
capital position.
 If bank default to pay FD deposited
max .am get Rs 500000.
2/1/2020 14
Budget 2020 Highlights By FCMA Bibek Ku

15. POINTS Proposed budget 2020
Tax benefits under Employee stock
benefits plan (ESBP)-
Taxable in the hands of employee at the time of
exercise.
Extension of time limits loan for buy
housing scheme
Addition deduction interest of rs 150000 ,loan
sanction extension 31/03/2021
PAN NO Adhaar based PAN NO to be introduced
Tax payer / E way bill New tax payer 60lakhs &105 cr E way bill
generated
Agri-credit Set at 15 lakhs
Railways Setup Kishan Rail through PPP MODELso
perishable good can all so transported quickly.
Infrastructure 9000km –economic corridor will be setup
( Chennai to Bangalore & Delhi to Mumbai)
Health sector Allocated 69000 cr.2/1/2020 15Budget 2020 Highlights By FCMA Bibek Ku

16. I M POSSIBLE
1
I M POSSIBLE
Bibek Prajapati
(FCMA, CS , MBA, M COM, ).
My kind request for you Please like , subscribe ,comment and don’t forget to share
Pray to God for the success in Life
Thank You
2/1/2020 16Budget 2020 Highlights By FCMA Bibek Ku