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Budget 2020 Key highlights Part 2

Budget 2020 Highlights Regarding Direct Taxes 

1-Tax Payer Charter will announce soon
2-Tax Payer Statute coming Soon 
3-Deposit Insurance raised up to Rs.500000/
4- government stake in IDBI Bank will be sold 
5- Government to sell part of his stake in LIC
6- Significant Tax Reforms undertaken
7-Removed 70 deduction around in new Tax resume
8-removed Dividend Distribution Tax , receiver will pay tax on such income . Now Dividend income will be taxable 
9-New Manufacturing company tax rate will 15% 
10- Start up exempt from tax turnover  upto 25 crore for 3 year 
11- 44AB limit 5 crore for MSME
12-Circle rate and Actual Sale price difference increase to 10% 
13-Faceless Appeal introduced 
14-Sabka Vishwas scheme , pay tax and no penalty and interest upto June 2020.

#Orporate


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