Atmanirbhar Bharat- Actual Fiscal cost of the INR 20 lakh crore package & Who gets what?

The Finance Minister of India, Nirmala Sitharaman announced the various measures of the 20 lakh crore relief package over five tranches. However, these also included the relief announced by the Finance Minister earlier and liquidity measured provided by the RBI. Here is the breakup of the INR 20 lakh crore package-   However, as per …

Atmanirbhar Bharat: Taxation Relief – Is it a Real Relief?

Starting off with a genuine question, does mere deferment of taxes mounts to reliefs? The taxation reliefs provided in the "Aatmanirbhar India Economic Relief Package" may be more of the nature of deferment of incidence, rather than providing actual monetary relief. The Taxation Reliefs announced by Hon’ble Finance Minister are as follows :TDS/TCS Rate reduction …

Atmanirbhar Bharat- A 20 lakh crore project underway- All you need to know

On 12th May 2020, India's honourable PM addressed the nation and announced an economic stimulus package of INR 20 lakh crore, amounting to ~10% of the country's GDP. The primary aim of the package was to make India self-reliant and self-dependant in terms of production and services. https://www.youtube.com/watch?v=P4QjOhu9eIQ This is how India compares to other …

New tax rates- are they actually lower?

During the presentation of the Fiscal Budget, the Finance Minister announced revised slab rates of taxation for individuals, which are lower than the prevailing rates. However, there is a certain catch to it. Under the new rates, the assessee has to forego certain exemptions and deductions while computing the taxable income. Hence they might actually …