Direct Tax summary booklet for May/June 2020

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FEMA Document Containing ECB

By 👨‍🏫 CA Amit Popli sir.

✍️63 Pages

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To get minute to minute updates of Budget 2020 follow us on twitter at
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It’s 11 am

Time for #Budget2020

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*Union Budget 2020*

* Proposed Direct Tax Reforms*

* New Simplified Personal Income Tax Regime for Individual Tax Payers
• no deduction or exemption
• 5-7.5 Lakhs - 10 %
• 7.5 - 10 Lakhs - 15 %
• 10 - 12.5 Lakhs - 20 %
• 12.5 - 15 Lakhs - 25 %
• Above 15 Lakhs - 30 %
• optional for tax payers
• simplified income tax return
• removal of 70 deductions

* Dividend Distribution Tax on companies removed and dividend to be taxed in hands of the recipient.

* 15% concessional rate of corporate tax extended to Power Sector

* Foreign Investment encouraged by extending lower withholding tax rate to interest on various securities in respect of foreign investment

* Start ups provided with more income tax benefits

* Cooperative societies provided an option to be taxed at 22 % with no exemption

* Tax Audit threshold increased to 5 crores if less than 5 % turnover is in cash

* New Charitable Institution registration process to be completely electronic

* Faceless Appeals to be enabled in lines of faceless assessments

* Vivaad se Vishvash
• no Dispute but Trust Scheme
• Direct Tax Dispute Resolution
• payment of all taxes will lead to waiver of penalty and interest
• applicable for all pending appeals at all levels

* PAN to be allotted instantly on basis on Adhar

How to stay motivated ?

In the jungle which animal is the :

biggest ........ Elephant ?

tallest ........ Giraffe.?

wisest ........ Fox ?

fastest ........ Cheetahs ?

Yet, the Lion is the KING of the jungle even without ANY of these qualities.!!

Why??

Because...

The Lion is courageous, bold, walks with confidence, dares anything and is never afraid.

The Lion believes he is unstoppable.

The Lion is a risk taker.

The Lion believes any animal is food for him.

The Lion believes any opportunity is worth giving a try and never lets it slip from his hands.

So...

- What is it that we get to learn from the Lion ??

• You don't need to be the fastest.

• You don't need to be the wisest.

• You don't need to be the smartest.

• You don't need to be the most brilliant.

• All you need is courage

• All you need is the will to try.

• All you need is the faith to believe it is possible.

• All you need is to believe in yourself, that you can do It.!!

It's TIME to bring out the Lion in you..!!

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CALLING ALL CS PROFESSIONAL STUDENTS

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Fill up this Google form to book your seats NOW - https://docs.google.com/forms/d/e/1FAIpQLSfNZq9YREwtZx-VkVoEguvhy3bbcqXtNPgwoXE6WJe7TaGOGw/viewform?usp=sf_link

BOOK YOU SEATS NOW!!
Call or WhatsApp at +91 6362748967 them to know more or drop in a DM on their Instagram at @_b.e.i_

https://www.youtube.com/watch?v=aXmaLUyXWWQ&feature=share

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