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.
Feature of this Excel Utility:-
1) This
Excel utility prepares and calculates your income tax as per the New Section 115
BAC (New and Old Tax Regime)
2) This
Excel Utility has an option where you can choose your option as New or Old Tax
Regime
3) This
Excel Utility has a unique Salary Structure for Government and Non-Government
Employee’s Salary Structure.
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
